Rio Tinto joins First Movers Coalition to help drive low-carbon transition
September 20 2022 - 8:00AM
Business Wire
Rio Tinto today announced it will join the First Movers
Coalition, a global initiative to help commercialise zero-carbon
technologies by harnessing purchasing power and supply chains.
More than 50 companies with a collective market value of about
$8.5 trillion across five continents now make up the coalition to
create early markets for innovative clean energy technologies.
The initiative is led by the World Economic Forum and the US
Government and targets sectors including aluminium, aviation,
chemicals, concrete, shipping, steel, and trucking, which are
responsible for 30 per cent of global emissions. This is expected
to rise to over 50 per cent by mid-century, unless there is urgent
progress on clean technology innovation.
Rio Tinto Chief Commercial Officer Alf Barrios said: “We want to
bring Rio Tinto’s considerable buying power to help build
sustainable supply chains for emerging green technologies. The
low-carbon transition is at the heart of our business strategy and
success will require large scale of change throughout the value
chain, which our pledges to the First Movers Coalition are aimed at
supporting.
“As a member of the First Movers Coalition, we also look forward
to building on our existing network of partnerships to support the
development of new technologies to help power our way to a net-zero
future.”
Head of the First Movers Coalition at the World Economic Forum
Nancy Gillis said: “Rio Tinto’s commitment to a sustainable future
makes the company an impactful addition to the First Movers
Coalition. We look forward to collaborating with Rio Tinto to
encourage clean energy innovation and transition the mining
industry toward a zero-carbon future.”
Rio Tinto is making commitments to purchase more zero emissions
fuel for its own shipping fleet and make greater use of suppliers
who use zero emission fuels in shipping and aviation. It has also
pledged that it will ensure a greater proportion of heavy haul
trucks it acquires will be zero emissions.
The company is working to reach net zero by 2050. It has set a
target of a 50% reduction in Scope 1 and 2 emissions by 2030,
backed with an estimated investment of approximately $7.5 billion
in capital.
For more information about the First Movers Coalition visit
www.weforum.org.
Notes to editors
Rio Tinto is a leading supplier of high quality, low-carbon
footprint aluminium, including the use of renewable hydropower, and
is working to reduce emissions even further. We are scaling up a
revolutionary technology for zero-carbon aluminium smelting
technology through our ELYSIS partnership with Alcoa, with support
from Apple and the governments of Canada and Quebec. In Australia,
we aim to develop green repowering solutions for the Boyne Island
and Tomago smelters, and are working with the state and federal
governments, power companies and renewable developers to increase
the availability of renewables.
Rio Tinto has entered the First Movers Coalition’s shipping,
trucking and aviation categories, where general commitments for
participants include:
Shipping
- Ship Owner: “At least 5% of our deep-sea shipping will be
powered by zero-emission fuels by 2030, enabled by ships capable of
using zero-emission fuels”
- Cargo Owner: “At least 10% of the volume of our goods shipped
internationally will be on ships using zero-emission fuels by 2030;
on the way to 100% by 2040”
Trucking
- Trucking Owner / Operator: “At least 30% of my heavy-duty and
100% of my medium-duty new truck purchases will be zero-emission
trucks by 2030”
- Trucking Services User: “I require my trucking service
providers to meet the commitment that at least 30% of heavy-duty
and 100% of medium-duty new truck purchases will be zero-emission
trucks by 2030”
Aviation
- Airfare Purchaser: “By 2030, we will partner with air transport
operators to replace at least 5% of conventional jet fuel used for
our air travel/freight with sustainable aviation fuels (SAF) that
reduce lifecycle GHG emissions by 85% or more when compared with
conventional jet fuel, and/or using zero-carbon emitting propulsion
technologies”
Rio Tinto is working closely with the FMC team to determine how
it practically integrates the intent of the commitments in the
context of Rio Tinto’s global operations.
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