Mining giant Rio Tinto says it wants its globe-spanning operations to reach net zero greenhouse gas emissions by 2050 and will spend US$1bn over the next five years to reduce its carbon footprint.
The second biggest miner in the world has also committed to reducing its emissions by 15% by 2030.
Rio Tinto’s decision, which follows pressure from investors, puts it in line with Australian business groups and unions and at odds with an Australian government that has devoted itself to attacking the Labor opposition over its commitment to the same net zero target.
Its commitment to cut emissions is easier for Rio Tinto than BHP and other big global miners because unlike BHP, it does not mine coal or oil.
However, unlike BHP, Rio Tinto has refused to set a target to reduce so-called “scope 3” emissions produced by its customers.
Announcing Rio Tinto’s full-year results on Wednesday, the company’s chief executive Jean-Sébastien Jacques also warned that the coronavirus outbreak could hurt its operations.
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