Rio Tinto plc (UK) | Climate Action Plan at Rio Tinto

Status
72.01% votes in favour
AGM date
Previous AGM date
Proposal number
17
Resolution details
Company ticker
RIO
Submitted by
Resolution ask
Set targets or plans
ESG theme
  • Environment
ESG sub-theme
  • Net Zero / Paris aligned
Type of vote
Other management proposal or proxy item
Filer type
Management
Company sector
Materials
Company HQ country
United Kingdom
Resolved clause
Resolution 17 is an advisory resolution seeking approval of Rio Tinto’s Climate Action Plan (CAP). The Board is fully aligned with this action plan and believes it will deliver value for our shareholders, our customers and wider society. Voting in favour of this resolution shows support for both the company and how it intends to progress its net zero transition strategy. This resolution is purely advisory. The sole purpose of the vote is to allow Rio Tinto’s shareholders to endorse the ambition presented to them.
Supporting statement
Rio Tinto supports the Paris Agreement and acknowledges that in the Glasgow Climate Pact governments resolved to pursue efforts to limit the global temperature increase to 1.5°C which “requires rapid, deep and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45 per cent by 2030 relative to the 2010 level and to net zero around mid-century, as well as deep reductions in other greenhouse gases”. Rio Tinto has an important role to play in supporting and enabling the transition to net zero emissions. We intend to do this by decarbonising our own assets, investing in materials that are essential to the net zero transition, and partnering to develop the technologies and products that will enable our customers to decarbonise their own processes. The CAP sets out our emissions targets, the actions we intend to take to achieve them and our approach to climate-related governance, disclosure, the just transition and climate advocacy. We will continue to build capabilities throughout our company and explore other opportunities to enhance our approach to climate change in future.

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