Page 12 - Annual Report 2020

1.4.3 Stakeholder engagement

Section 172 statement
How the Board complied with its section 172 duty
The UK Companies Act 2006 (CA2006) sets out a number of general place at management level and management discusses this with
duties, which directors owe to the company. New legislation has been Directors during Board meetings.
introduced to help shareholders better understand how directors have In addition, the Board considers the likely consequences of decisions
discharged their duty to promote the success of the company, while in the long term, the impact of the Group’s operations on the community
having regard to the matters set out in section 172(1)(a) to (f) of the and the environment and the importance of maintaining a reputation
CA2006 (s172 factors). The Board welcomes the new Section 172 for high standards of business conduct.
reporting requirements.
The Board considers the interests of a range of stakeholders in its More detail about our approach to these matters, along with other
stakeholder considerations, is set out in the Strategic Report as detailed
discussions, decision-making and implementation of BHP’s strategy in this table – in particular the Board and Board Sustainability
and purpose, which will have an impact on the long-term success Committee’s approach to Sustainability, the environment, tailings
of the Group. The Board does not typically engage with every storage facilities and Samarco.
stakeholder group every year; however, engagement does take
S172 factor Key examples Section
Workforce • Approach to workforce in relation to COVID-19 1.4.6
• Culture and capabilities 1.6.1
• Health and safety 1.7.3 and 1.7.4
• Workforce engagement 2.6.2
Community and government • Local economic growth 1.7.9
• Social investment 1.7.9
• Indigenous peoples 1.7.9
Investors • Understanding the views of BHP shareholders 2.6.1
Suppliers and customers • Acceleration of supplier payment terms (case study) 1.4.6
• Working with suppliers 1.6.1
• Responsible sourcing 1.7.7
• Commercial 1.9.5
Environment • Land and biodiversity 1.7.6
• Rehabilitation and closure 1.7.6
• Water 1.7.6
• Climate change 1.7.8
High standards of conduct • Human rights 1.7.9
• Tailings storage facilities 1.7.10
• Samarco 1.8

10 BHP Annual Report 2020