logo
Plus   Neg
Share
Email

Rio Tinto Plans To Invest $1 Bln To Meet New Climate Change Targets

Rio Tinto said that it plans to invest around $1 billion over the next five years to support the delivery of its new climate change targets and a company objective for net zero emissions from operations by 2050.

Rio Tinto chief executive J-S Jacques said, "Climate change is a global challenge and will require action across nations, across industries and by society at large. New technologies, partnerships and effective government policies will be key in achieving this goal but today there is no clear pathway for the world to get to net zero emissions by 2050.

By 2030, the company aims to further reduce 30 per cent in its emissions intensity from 2018 levels; 15 per cent in its absolute emissions from 2018 levels.

Rio Tinto's overall growth between now and 2030 will be carbon neutral.

The company plans to achieve its ambition of net-zero emissions by 2050 through action in four areas. It plans to produce materials essential for a low-carbon future. It is taking steps to enhance productivity and efficiency, as well as exploring alternative sources of energy and developing pathways to reduce emissions.

The company will partner with others to reduce the carbon footprint across the value chain. It will enhance resilience to physical climate risks.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Santa Cruz Bicycles LLC has recalled certain model year 2020 bicycles with aluminum frames citing fall risks, according to the U.S. Consumer Product Safety Commission. The recall involves about 2,900 units of model year 2020 Auminum Santa Cruz and Juliana Bicycles. In addition, about 216 were sold in Canada. AstraZeneca is mulling an additional global trial to confirm the 90% efficacy rate of its Covid-19 vaccine candidate at lower dosage, Bloomberg news quoted Chief Executive Officer Pascal Soriot as saying. In an interview, Soriot noted that instead of adding the trial to an ongoing U.S. process, the company might launch a fresh study to evaluate efficacy of lower dosage of its vaccine that perform U.S. airline Delta Air Lines, Inc. and its Italian codeshare partner Alitalia are planning to launch quarantine-free, COVID-free flights between U.S. and Europe through new testing protocols, starting in December. In a statement, Delta said it has signed deals with airports and governments eliminating quarantine requirements on COVID-tested flights connecting Atlanta and Rome.
Follow RTT