Rio Tinto Makes Bold Carbon Offset Pledge Aiming For 3.5M Credits

Rio Tinto Makes Bold Carbon Offset Pledge Aiming 3.5M Credits - Carbon Herald

Rio Tinto, the second-largest mining company in the world, has recently unveiled its ambitious plan to increase its retirement of carbon credits to 3.5 million per year by 2030. This major commitment equates to about 10% of the company’s initial emissions and showcases its dedication to reducing its impact on the environment. 

This choice follows Rio Tinto‘s recognition of the significance of using offsets to help achieve its sustainability targets.

The company has detailed its approach to enhancing its participation in the voluntary carbon market (VCM) as part of its efforts to reach its climate goal by 2030. It also commits to disclosing its commercial partnerships in the VCM as well as its carbon credit sourcing strategy. 

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Rio Tinto’s records for last year show that its scope 1 and 2 emissions remained stable at 32.6 million tCO2e, with total scope 3 emissions of 578 million tCO2e. With the newly rolled-out agenda, the mining company aims to reduce emissions by 15% by 2025 and 50% by 2030.

To accomplish this, Rio Tinto will carry out feasibility studies in Guinea and South Africa while increasing activities in key areas.

Their primary focus will be on conducting experiments and studies related to nature-based solutions (NBS).

Read more: Carbfix And Rio Tinto Partner For Carbon Capture And Storage

The company’s goal is to dedicate a minimum of 500,000 hectares of land to implementing high-quality NBS initiatives on a global scale by 2025.

In order to reduce emissions over time, Rio Tinto’s plan also involves boosting the utilization of biofuels, acquiring renewable energy, improving the efficiency of smelters, and incorporating more LNG ships

Rio Tinto will also prioritize investing in carbon credits in areas with considerable emission levels, like Australia and North America, shifting focus towards collaborating on or funding carbon offset initiatives upstream to secure ongoing access to high-quality credits.

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