Capitalism trumps climate: Why BHP’s green ambitions turned to empty promises

May 26, 2026 — 3:22pm

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There’s a screaming cognitive dissonance created by BHP’s slowness in investing in renewables and carbon reduction when only seven years ago its chief executive declared climate change an existential crisis.

Was the miner’s then CEO Andrew Mackenzie just virtue signalling when he declared in 2019 to a London room packed with politicians and captains of industry that his company would lead the capitalist pack on greening the world?

Probably not. But Mackenzie’s passion looks to have been replaced by the apparent mindset of today’s BHP leaders, for whom capitalism trumps climate and environmental protection takes a back seat to profit.

As one of Australia’s largest and most recognisable companies, the modern era of BHP’s senior management has been acutely aware of the mining giant’s image and the associated social licence to dig up the country’s natural resources.

But, as it turns out, it’s even more conscious of the need to maximise return on capital. And like at any large company, there is competition between........

© The Sydney Morning Herald