Rio Tinto Launched Fresh Strategy to Reach Ambitious Carbon Emissions Target

SEATTLE (Scrap Monster):  Rio Tinto Group unveiled longer-term strategy to boost its decarbonisation efforts, in line with its policy. The company also outlined actions to strengthen its business.

Rio Tinto declared its commitment to take necessary actions to raise its goals, so as to meet the ambitious targets set by various governments. It now targets to reduce its Scope 1 and Scope 2 carbon emissions by 50% by 2030. This is nearly three times the earlier target announced by it. By 2025, it aims to reduce emissions by 15%. To support the above initiative, Rio Tinto plans to invest approximately $7.5 billion between 2022 and 2030, the company press release said.

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The company will accelerate its investment in research and development of decarbonisation technologies. The path-breaking carbon-free aluminum technologies such as ELYSIS and innovative green steel technologies will be promoted. In order to meet the said goals, Rio Tinto will work in partnership with a broad range of stakeholders, said Jakob Stausholm, Chief Executive Officer, Rio Tinto.

Rio Tinto will focus on renewable power for iron ore in the Pilbara and for the Australian aluminum smelters. Furthermore, it targets full electrification of the entire Pilbara system.