Rio Tinto Unveils New Target To Reduce Scope 1 & 2 Carbon Emissions By 50% By 2030

(RTTNews) - Rio Tinto Plc. (RTPPF.PK, RIO.L, RIO, RTNTF.PK) unveiled a new target to reduce its Scope 1 & 2 carbon emissions by 50 percent by 2030, more than tripling its previous target. A 15 percent reduction in emissions is now targeted for 2025, five years earlier than previously.

The targets are supported by around $7.5 billion of direct investments to lower emissions between 2022 and 2030, the company said.

Rio Tinto stated that it will accelerate its investment in R&D and development of technologies that enable its customers to decarbonise.It will continue to develop technologies like ELYSIS for carbon-free aluminium and multiple pathways to produce green steel.

Rio Tinto will prioritize growth capital in commodities vital for this transition with an ambition to double growth capex to about $3 billion a year from 2023.