Rio Tinto earmarks $7.5 billion to lower emissions by 2030
(Kitco News) - Today, Rio Tinto unveiled anew target to reduce its Scope 1 & 2 carbon emissions by 50 per cent by2030, more than tripling its previous target.
A 15 per cent reduction inemissions is now targeted for 2025, five years earlier than previously, thecompany pointed out.
These targets are supportedby around $7.5 billion of direct investments to lower emissions between 2022and 2030, Rio Tinto noted.
Rio Tinto added it willaccelerate its investment in R&D and development of technologies thatenable its customers to decarbonize.
“Rio Tinto can decarbonize,pursue growth and continue to deliver attractive returns to shareholders due toits strong balance sheet, world-class assets and focus on capital discipline,” thecompany said in its statement.
To meet additional demandcreated by the global drive to net zero emissions, Rio Tinto said it willprioritize growth capital in commodities vital for this transition with anambition to double growth capex to about $3 billion a year from 2023.
By Vladimir BasovFor Kitco News
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