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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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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