PERTH (miningweekly.com) – Diversified miner Rio Tinto on Wednesday said it will publish briefing papers on its specific assets and emissions sources this year, as part of its enhanced climate advocacy approach, and will detail how the right policy settings can support its Scope 1 and 2 emissions targets.
Rio has set a target of halving its Scope 1 and 2 emissions by 2030, and reaching net zero by 2050.
Six large emissions abatement programmes are focused on renewable power, process heat, diesel and the ELYSIS zero carbon aluminium smelting technology to drive the transition to net zero by 2050, supported by high-quality nature-based solutions, the miner said previously.
In 2022, it announced investments of around $7.5-billion between 2022 and 2030, including around $1.5-billion over the next three years which would be back-end dated. Investments are being prioritised and phased in the most logical way, with consideration for near-term work around energy inputs and attractive economics.
Rio said this week that in the lead-up to its annual general meetings, the company was engaging with investor and civil society organisations on an enhanced approach to advocacy to support the decarbonisation of its operations, in line with the goals of the Paris Agreement.
The company said that the discussions had highlighted the need for greater transparency and conversations on the critical role of government policy signals in decarbonisation, by creating the right framework for change in hard-to-abate industrial value chains, coupled with real business action and societal shifts.
Rio will engage with the Australasian Centre for Corporate Responsibility during the development of its briefing papers this year, particularly on the details for the identified policy settings.