Mining giant Rio Tinto has outlined its plans to contribute to the global transition to a low carbon future.
The company’s Our Approach to Climate Change report builds on recommendations from the Task Force on Climate-related Financial Disclosures (TCFD) as a framework to assess the potential risks and opportunities of climate change and related policies.
The report contains four main pillars that form the company’s approach to climate change:
Supply essential metals and minerals for the transition to a low-carbon economy
Reduce emissions from its own footprint
Identify and assess physical risk exposures
Partner to advance climate goals
The release of the report was quickly welcomed by the Investor Group on Climate Change, who described it as a another important outcome for the continued transition to a low carbon future.
“Investor-led engagement with companies through the Climate Action 100+ is designed to achieve effective climate change outcomes in the best interests of the Australian economy and shareholder returns”, said Emma Herd, CEO of the Investor Group on Climate Change.