Rio Tinto says climate change 'at heart of strategy' after investors demand action

LONDON: Rio Tinto on Friday said climate change was central to its new strategy at its first in-person annual general meeting in two years in London, after shareholders demanded the miner set clear targets to cut indirect emissions.

The company in October announced a US$7.5 billion plan to reduce emissions by 2030, seeking to halve its Scope 1 and 2 carbon emissions - direct emissions by the company and certain types of indirect emissions - by the end of the decade. Investment manager Sarasin and Partners voted against Rio's financial accounts and the reappointment of auditor KPMG, saying it is unclear how the costs of achieving carbon commitments have been incorporated in the company's financial statements.

Dead fish were found after the water release, but the company's tests on the fish found no signs of toxicity or contamination with heavy metals, he said. Rio is dual-listed in London and Sydney and votes from the meeting will be counted and made public at its Australian AGM in Melbourne on May 5.

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