Finding better ways to provide the materials the world needs
Our business
We operate in 35 countries where our 57,000 employees are working to find better ways to provide the materials the world needs
Our purpose in action
Continuous improvement and innovation are part of our DNA
Innovation
The need for innovation is greater than ever
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world鈥檚 largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Climate Change
We鈥檙e targeting net zero emissions by 2050
Nature solutions
Our nature-based solutions projects complement the work we're doing to reduce our Scope 1 and 2 emissions
Decarbonisation progress update
We have a clear plan on decarbonisation - find out more about our progress in 2024
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
Investor seminars
Our Investor seminar will be held in London on 4 December, and our Decarbonisation update on 5 December
Get the latest news, stories and updates
Things you can't live without
Our podcast discussing what needs to happen to create a sustainable future for the everyday items we have come to rely on
The 'f' word of innovation
How unlocking innovation requires a change of mindset
Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
Discover more about life at Rio Tinto
Graduates and students
If you want to drive real change, we have just the place to do it
Empowering families with flexibility
Supporting new parents of any gender with equal access to parental leave
Available jobs
Join our team
We have put the low-carbon transition at the heart of our business strategy: combining investments in commodities that enable the energy transition with actions to decarbonise our operations and value chains.
Our strategy and approach to climate change are supported by strong governance, and we are building our processes and capabilities to enable us to reach net zero emissions from our operations by 2050.
Climate change has formed part of our strategic thinking and investment decisions for over 2 decades and was a fundamental component in our strategy development process in 2021. Recently, there has been a rapid shift in the external context on tackling climate change. This includes the increasingly ambitious emissions targets set by many governments in the lead up to COP26; developments in low-carbon technologies, such as renewables and electric vehicles, and their falling costs; as well as the increasing international co-ordination on climate policies, including carbon pricing.
In parallel, society鈥檚 expectations continue to rise. Companies extracting minerals must reduce their impact on the environment and host communities and go beyond regulatory obligations to drive the development of more sustainable value chains. An emerging theme in tackling these issues is the circular economy, which is built around avoiding and reducing waste and pollution, keeping products and materials in use, and regenerating natural systems. The infinitely recyclable nature of our products, potential utilisation of waste streams, and re-use of assets could create considerable near and long-term growth and partnership opportunities as the world tackles climate change.
As stewards of the minerals and metals that are critical to decarbonisation and sustainable development, we embrace our responsibility to minimise the impact of our operations on the environment.鈥
Our Chief Executive Jakob Stausholm has joined with other CEOs on the International Council on Mining and Metals in signing a Climate Change Statement that commits us to a goal of net zero from our operations by 2050 or sooner.
We have made this collective commitment because we believe many of the sustainability challenges facing our industry, and the planet, require collective action to solve.
Last year, we announced our ambition to reach net zero from our operations by 2050. Our support for the statement confirms this ambition as a clear commitment.
Climate-related disclosures on governance, strategy, risk management, as well as metrics and targets, are integrated into our Annual Report in the following sections: Strategic Context, Key Performance Indicators, Innovation, Risk Management, Principal risks and Uncertainties, Governance, the Sustainability Committee report, the Remuneration Committee report and in the notes to the accounts.
In 2015, we supported the adoption of the Paris Agreement and the long-term goal to limit global average temperature rise to well below 2°C and to pursue efforts to limit warming to 1.5°C. Government policy that creates the right framework for change is critical, coupled with real business action and societal shifts. A challenge as serious as climate change requires transparency, collaboration and a shared contribution to the solution. To achieve our decarbonisation goals and to support global goals, we need policy that promotes the production and consumption of low-carbon metals and minerals.
We recognise the importance of adaptation and increasing resilience to a changing climate.
We agree with the mainstream climate science published by the Intergovernmental Panel on Climate Change. We support the Glasgow Climate Pact, in which governments resolved to pursue efforts to limit the global temperature increase to 1.5°C that “requires rapid, deep and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45% by 2030 relative to the 2010 level and to net zero around mid-century, as well as deep reductions in other greenhouse gases”. Consequently, we do not advocate for policies that undermine the Paris Agreement or discount Nationally Determined Contributions (NDCs).
Minerals and metals are globally traded, so effective climate policy should incentivise the private sector to invest in low-carbon technology without undermining the competitiveness of trade-exposed industries and shifting production, jobs and supply chains to countries with lower emissions standards (carbon leakage). If there is significant regional variation in carbon prices, carbon border adjustment mechanisms (CBAM), or alternative policies, are necessary to limit leakage, provided they are pragmatic, effective and equitable.
Where climate policies are implemented, we support the use of market mechanisms, including a market-based price on carbon such as in emissions trading systems. We believe this is the best way of stimulating innovation and achieving emissions reductions at least cost.
Carbon pricing, on its own, might not be sufficient to transform the metals sector. Other policy tools are necessary to tackle emissions and simultaneously achieve objectives related to industrial policy. These can include:
We support the outcomes of the Paris Agreement and the long-term goal to limit global average temperature rise to well below 2°C and pursue efforts to limit the temperature increase to 1.5°C above pre-industrial levels. We support governments as they raise the ambition of their Nationally Determined Contributions (NDCs).
A market-based price on carbon is the most effective way to incentivise the private sector to make low-carbon investments and drive down emissions. Based on our current assumptions, carbon prices below $100/tCO2e may be enough for us to decarbonise power and support our investment in renewable generation and firming infrastructure. Higher carbon prices and other forms of support are necessary to address harder-to-abate parts of our carbon footprint, such as process heat and carbon anodes, and remain commercially competitive in a global market.
Business has a vital role in addressing and managing the risks and uncertainties of climate change and driving emissions to net zero. A range of policy measures is necessary to support the early movers in our sector that innovate and deploy low-carbon technology. Our policy principles provide a common architecture for the positions we take in different jurisdictions – policy should be effective, fair, pragmatic, market-based and support free trade.
Significant global and regional progress on climate change will only happen when everyone 鈥 business, governments, investors, civil society organisations and consumers 鈥 plays their part. Our own approach to climate change requires active engagement on relevant policies with a range of stakeholders in the countries where we operate.
Our responses to government consultations are guided by our overall policy positions that include support for market mechanisms, as we believe this is the best way of stimulating innovation and achieving emissions reductions at least cost. Our submissions are typically developed by subject matter experts, reviewed by government relations and legal teams, and then approved by the relevant country director or senior executive.
April 2024 鈥 We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the Electricity and Energy Sector Plan discussion paper
November 2023 - We responded to the Australian Government Treasury on the Sustainable Finance Strategy consultation paper
December 2022 - We responded to the Australian Government Treasury on the Climate-related financial disclosure consultation paper
July 2024 - We responded to the Australian Government Department of Industry, Science and Resources on the Unlocking green metals opportunities for a Future Made in Australia consultation paper
July 2024 - We responded to the Australian Government Departments of Climate Change, Energy and the Environment and Water AND of Infrastructure, Transport, Regional Development, Communication and the Arts on the Low Carbon Liquid Fuels - A Future Made in Australia: Unlocking Australia鈥檚 low carbon liquid fuel opportunity consultation paper
August 2023 - We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the Hydrogen Headstart, National Hydrogen Strategy Review and Capacity Investment Scheme consultation paper
June 2020 - We responded to the Australian Government Department of Industry, Science, Energy and Resources on the Technology Investment Roadmap - June 2020
February 2023 - We responded to the Australian Government Department of Climate Change, Energy, the Environment and Water on Australia鈥檚 Guarantee of Origin Scheme consultation paper and Renewable Electricity Certification consultation paper
May 2024 - We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the National Greenhouse and Energy Reporting Scheme 2024 Proposed Amendments consultation paper
April 2023 鈥 We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the National Greenhouse and Energy Reporting Scheme 2023 Proposed Amendments consultation paper
February 2023 - We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the Safeguard Mechanism reform consultation on proposed design
September 2022 - We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the Safeguard Mechanism Reform consultation paper
October 2023 鈥 We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water on the Implementation of Recommendations of the Independent Review of the ACCU Review discussion paper
December 2023 - We responded to the Australian Government Department of Climate Change, Energy and the Environment and Water's consultation on the proposed approach to assess and address carbon leakage risk, as part of the Carbon Leakage Review
February 2020 - We responded to the New Zealand Ministry for the Environment on proposed New Zealand Emissions Trading Scheme settings, including unit supply and price controls, to be set through regulations in mid-2020
January 2020 - We responded to the National Government of New Zealand on amendments to the Climate Change Response Act 2002 to improve the operation of the NZ ETS
Our annual review of our industry association memberships supplements the Climate Change Report and provides a complete list of the major industry associations that take positions on climate change and sets out the elements used to evaluate their policy positions and advocacy:
The review provides further information on any major industry associations whose positions and advocacy on climate and energy policy significantly differ from Rio Tinto鈥檚 key positions on these issues.
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