BHP Group, which is the largest mining company in the world, revealed that it may not be able to achieve zero emissions by 2050 amid its production of huge quantities of iron ore, which is an emissions-intensive material.

However, the group confirmed that it is still working hard to achieve this, pointing to its efforts to make significant progress in its strategy to reduce steel industry emissions.

Graham Winkelman, head of carbon management at BHP, revealed that the group may announce a slight increase in its emissions in its financial year ending on June 30.

During the “COP 28” conference, 50 of the largest oil and gas companies, representing more than 40% of global oil production, signed the “Oil and Gas Sector Emissions Reduction Charter.”

Under the charter, these companies pledged to reach net zero emissions of methane, the most dangerous greenhouse gas.

The companies that signed the charter included 29 national oil companies, most notably Aramco, ADNOC, the Libyan National Oil Corporation, and the Brazilian PETROBRAS.

International oil companies also signed the charter, most notably Exxon Mobil and Shell, along with BP and TotalEnergies, in addition to Chevron and ConocoPhillips.