BHP is facing criticism for lagging in emissions and steel technology advancements, according to a new report from the Institute of Energy Economic and Financial Analysis (IEEFA). The company's Climate Transition Action Plan (CTAP) has been deemed insufficient in addressing its Scope 3 carbon emissions, which account for 98% of its total emissions. BHP continues to prioritize carbon capture technology, despite doubts about its effectiveness in decarbonizing coal-based steelmaking. Unlike its peers, BHP is not shifting towards high-grade iron ore production for low-carbon steelmaking, risking long-term demand for metallurgical coal. Analysts warn that BHP may be underestimating the pace of the steel technology transition and overestimating the resilience of coal demand, as competitors advance towards greener alternatives.