In its revised Climate Change Policy, BHP said it "will take action within our own businesses and work with governments, industry and other stakeholders to address this global challenge and find lasting solutions consistent with our goal of zero harm".

The policy includes new targets to reduce the energy and greenhouse intensity of BHP’s products by a further 13% and 6% respectively by 2012.

“We have also contributed significantly to research and development in clean coal technologies, including geosequestration, and have implemented several related programs across the business," Goodyear said.

He said instead of trying to exclude coal from the energy mix, the resources sector must find ways to safely and permanently capture and store the carbon dioxide emissions from burning coal.

“As a leader in the natural resources industry we have an important role in meeting the world’s growing energy and resources needs,” Goodyear said.

“At the same time, we have an equally important role in minimising the impact of our activities on the global environment and supporting our customers’ efforts to do the same.”

The four action areas identified in the company’s policy are:

• Understanding emissions from the full life-cycle of its products;
• Improving the management of energy and greenhouse gas emissions across its businesses;
• Committing $US300 million over the next five years to support low emissions technology development, internal energy excellence projects and encourage emissions abatement by its employees and its local communities; and
• Using its technical capacity and experience to assist governments and other stakeholders on the design of effective and equitable climate change policies including market-based mechanisms such as emissions trading.