Shareholders ask Rio Tinto to disclose climate targets, review lobby associations

Jakob Stausholm, Rio Tinto’s new chief executive. (Image courtesy of Rio Tinto.)

Two small groups of Rio Tinto shareholders proposed resolutions for the mining giant to disclose emission targets and review its association with lobby groups, Rio said on Tuesday.

Mining companies around the world are under growing shareholder pressure to reduce their carbon footprint and take stringent climate actions to cut down on emissions, as calls for a shift towards cleaner forms of energy accelerate.

One group, representing 0.02% of shares, proposed that Rio disclose short, medium and long-term targets for direct and indirect greenhouse gas emissions and chalk out its performance against those targets, according to the proposed resolution.

A second group, representing 0.01% of Rio shares, asked the company to undertake an annual review of industry lobbyists to identify inconsistencies with the 2015 Paris Agreement and suspend membership of those out of line with the objectives.

“Where our membership is significant, we will work in partnership with industry associations to ensure that their policy positions and advocacy are consistent with our own public position and the Paris Agreement,” Rio said in a statement.

Rio will hold its annual general meeting on May 6 and said it will provide its voting recommendations next week.

(By Sameer Manekar; Editing by Philippa Fletcher)

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