While the resolution failed to pass, it attracted six times as much support as an identical one put up at the same meeting in 2019, according to the resolution's sponsor, environmental group Market Forces.
Market Forces noted the vote "shows investors have woken up to Rio Tinto"s obfuscation and the huge risks to its business from climate change and transition."
The resolution called on Rio Tinto to set science-based annual GHG emissions targets and disclose its performance against those targets.
These would have included emissions classified as scope 3 -- those which are produced by Rio Tinto's customers.
(Source: Rio Tinto, Guardian, 8 May, 2020) Contact:
Market Forces, Julien Vincent, Exec. Dir., email@example.com, www.marketforces.org.au; Rio Tinto, www.riotinto.com
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"The MOU will enable the formation of a joint working group tasked with identifying a pathway to support the goal of reducing carbon emissions and improve environmental performance across the steel value chain. The working group will establish a joint action plan on how to best utilize the parties' complementary strengths in research and development, technologies, processes, equipment, logistics, industry coordination and policy advisory capacities to combat climate change and improve environmental performance."
World-wide, the steel industry produced 9 pct of the world's carbon emissions, according to the Rio Tinto a news release.
Rio Tinto notes it divested its coal assets last year. (Source: Rio Tinto, Xinhua, Kitco News, 26 Sept., 2019)
Contact: China Baowu Steel, www.baowugroup.com; Rio Tinto, www.riotinto.com
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The 25 largest polluters, responsible for 50 pct of CO2 emissions, are, by descending order: China (state-owned coal production), Aramco, Gazprom, Iranian National Petroleum, ExxonMobil, Coal India, Pemex, Russia (state-owned coal production), Shell, China National Petroleum, BP, Chevron, PDVSA, Abu Dhabi National Petroleum, Poland Coal, Peabody Energy, Sonatrach, Kuwait Oil, Total, BHP Billiton, ConocoPhillips, Lukoil, Rio Tinto, Nigeria National Petroleum, and Petrobras, the only Brazilian company on the list.
The top 100 companies control most of the world's mineral rights, for oil, gas, and coal. Houston is considered the "home" of 7 of these 100 companies, followed by Jakarta, Calgary, Moscow, and Beijing.
Facility partners include the German government and private sector companies, Rio Tinto and Anglo American. The Facility will also assist governments to build a robust policy, regulatory and legal framework that promotes climate-smart mining and creates an enabling environment for private capital. Facility projects may include:
The World Bank is targeting a total investment of $50 million, to be deployed over a 5-year timeframe. The Facility will focus on activities around four core themes: climate change mitigation; climate change adaptation; reducing material impacts and creating market opportunities, contributing to the decarbonization and reduction of material impacts along the supply chain of critical minerals needed for clean energy technologies.
(Source: World Bank Group, Modern Diplomacy, May, 2019) Contact: World Bank Group,
Riccardo Puliti, Senior Director and Head of the Energy and Extractives Global Practice, www.worldbank.org
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Kennecott's electric power needs will now be paired with 1.5 million MWh of renewable energy certificates (RECs) supplied by Rocky Mountain Power, primarily sourced from its Utah allocated portfolio including wind power from Wyoming. The RECs are Green-e Energy certified and meet the environmental and consumer-protection standards set forth by the nonprofit Center for Resource Solutions.
The move to using renewable energy certificates at Kennecott is subject to regulatory approval by the Utah Public Service Commission. (Source: Rio Tinto, 2 May, 2019)Contact: Rio Tinto, www.riotinto.com
More Low-Carbon Energy News Carbon Emissions, Carbon Footprint, Rocky Mountain Power, Rio Tinto, Renewable Energy,
The partnership, which will receive initial funding of $188 million (Cdn) ($US147 million), will be based in Montreal and have a research facility in Quebec's Saguenay region. Apple will invest $10 million in the project while Alcoa and Rio-Tino will invest $43 million between them. The Governments of Canada and the Province of Quebec will add an additional $94 million.
The GHG emission reduction will be achieved by the replacement of a carbon anode -- which is normally burnt during the smelting process -- with an "advanced conductive material" that releases oxygen rather than carbon dioxide. The technology is still in development but expected to be available in 2024.
(Source: Apple, Financial Post, Others, 10 May, 2018)
Contact: Rio Tinto Canada, www.riotinto.com/canada; Alcoa, www.alcoa.com; Apple, www.apple.com/ca/contact
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Coal21, which was established in 2006 by the Australian Coal Association now merged into the Minerals Council of Australia, has to date invested $300 million in cleaner coal projects, including carbon capture and sequestration (CCS) initiatives at the Queensland Callide power plant in Victoria's Otway Basin.
The Coal21 Fund has also received
$550m from the Australian and state governments and coal related industry.
The fund is primarily financed by a levy on coal production at Australia's thermal and coking coal mines. Major players include Glencore, Rio Tinto, BHP Billiton and Peabody Energy.
(Source: Minerals Council of Australia, The Australian, 16 Aug., 2017) Contact: Australia Minerals Council of Australia , +61 2 6233 0600, www.minerals.org.au
More Low-Carbon Energy News Clean Coal, Australia Coal,