BHP's exit from petroleum, which made up just 5% of its annual earnings, speeds up its exit from fossil fuels amid pressure from environmentally conscious investors.
Only 11 out of 46 metal and mining companies analyzed by Bloomberg Intelligence have carbon-reduction targets that match levels needed for the UN goal.
Macro headwinds in the form of slowing growth impetus in China and the spread of the Delta variant of covid-19 are currently outweighing copper’s micro-dynamics.