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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.

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