Mining company Rio Tinto is working to develop an enhanced approach to advocacy that will support its decarbonization goals, in line with the Paris Agreement. The company will publish briefing papers on its assets and emission sources this year, detailing how policy settings can support its targets to reduce Scope 1 and 2 emissions, while also decarbonizing its wider value chain.
Rio Tinto will work with the Australasian Centre for Corporate Responsibility to develop these papers, with a particular focus on policy details. The company has put low-carbon transition at the heart of its strategy for 2021, with targets that are aligned with limiting global warming to 1.5°C.
The company revealed that discussions with investors and civil society organizations have emphasized the need for greater transparency and conversation on the role of government policy signals in decarbonization, alongside business action and societal shifts.
Rio Tinto’s policy principles include support for market-based and effective policies that are fair, pragmatic, and supportive of free trade, and that incentivize the private sector to invest in low-carbon technology without undermining the competitiveness of trade-exposed industries.
Source: PRESS RELEASE
Image of iron ore at Cape Lambert, Australia: Rio Tinto