CLIMATE
Your Taxes Are Funding BHP’s Diesel Habit
BHP collected $622 million in fuel tax breaks last year. Now, investors are being warned that this cash is the only reason they haven't gone electric.
The GuardianA new report from the Australasian Centre for Corporate Responsibility (ACCR) reveals that federal fuel tax credits are stalling BHP’s transition to green energy. While BHP calls climate change an 'existential threat,' their reliance on this $622 million government subsidy makes sticking with diesel more profitable than switching to electric trucks.
- BHP received $622 million in federal fuel tax credits during the last financial year.
- The ACCR warns that removing this tax break would make electrifying BHP’s diesel haul truck and rail fleets financially viable.
- Leaked documents show BHP previously shelved major renewable energy projects in Western Australia.
- Investors are now being urged to demand clear, medium-term emissions targets from the mining giant.
WHY THIS MATTERSThis matters because your tax dollars are effectively acting as a 'handbrake' on climate progress. By subsidizing fossil fuel use for one of the world's largest polluters, the government is keeping clean-tech alternatives off the table, directly delaying the transition to a lower-emissions economy.