Social Value Key To Our Future Profit: BHP

BHP says big miners’ profits will not survive if they simply pay lip service to the social and environmental toll of resource extraction, with the “social value” of a business decision increasingly important to a company’s long-term future.

Speaking to investors in London, BHP’s external affairs officer Geoff Healy said it was not viable for companies to ignore that society wants more from them on issues such as climate change, gender equality, and treatment of indigenous communities, with a holistic approach and “social value” a crucial platform for growing profit.

Mr Healy outlined how BHP was seeking to evolve its own focus from “social licence” to “social value” and, in the process, shifting from “tolerance and acceptance” to a “trust and partnership” interaction with the global community.