BHP's Scope 3 emissions hit 378 million metric tons in 2025 and keep rising. A new Institute for Energy Economics & Financial Analysis report finds the company's reliance on carbon capture technology is misplaced, as no commercial-scale plant exists in steelmaking globally. India, its top coal customer, is cutting Australian coal imports. The report urges incoming chief executive Brandon Craig to pivot toward direct reduced iron technology and deliver greater transparency on met coal's long-term future.