Sydney — Rio Tinto Group will support two climate-related resolutions being brought by activist investors at next month’s AGM, as the miner grapples with growing pressure from shareholders to boost its environmental credentials.
The move comes a month after the miner made a major U-turn in its stance on customer, or scope 3, emissions, reversing an earlier position that it had no control over how steelmakers used the iron ore it mines. The second resolution, from the Australasian Centre for Corporate Responsibility, calls on Rio to review its membership of industry associations for any inconsistency with Paris Agreement goals.
Rival BHP Group, like Rio, is also targeting net-zero by 2050, while Fortescue Metals Group, the world’s number four iron ore shipper, earlier this week, put down a marker with a target to be carbon neutral from its operations by 2030.
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