ACCR Company Engagement Rio Tinto Ltd

Rio Tinto Limited is an Australian multinational company and one of the world's largest metals and mining corporations.

Rio Tinto is engaged in minerals and metals exploration, development, production and processing, with a portfolio of assets condensed into four product groups: aluminium, copper and diamonds, energy and minerals, and iron ore. Rio Tinto is a significant emitter of greenhouse gas emissions, with a particularly large Scope 3 footprint. Rio Tinto has also demonstrated social and governance failings through its destruction of the 46,000 year old Juukan Gorge Caves in 2020. The caves were sacred places for the Puuti Kunti Kurrama and Pinikura peoples of the area and held evidence of the oldest site of human occupation in Australia, and possibly the world.

ACCR continues to engage regularly with Rio Tinto on its climate risks, decarbonisation commitments, lobbying-related climate and energy policy, and cultural heritage. In 2021, 99% of Rio Tinto’s shareholders voted in support of two shareholder resolutions, including one filed by ACCR to immediately review the advocacy of its industry associations and suspend membership of groups found to be lobbying inconsistently with the Paris Agreement.

Whilst Rio Tinto has significantly improved its operational emissions targets for 2030 (50% reduction in Scope 1 & 2), it remains a member of some of the most destructive industry associations in the country, including the Minerals Council of Australia and the Queensland Resources Council. ACCR is continuing to engage Rio Tinto on its role and influence upon the carbon lobby and will likely seek to file another shareholder resolution with the company on this issue. RIO has also committed to giving shareholders a non-binding vote on its climate plan in 2022 (‘Say on Climate’).

Updates

  1. Media release

    Rio Tinto shows BHP how it’s done

    ACCR comment on Rio Tinto’s (ASX:RIO) newly announced emissions reduction targets and strategy.

  2. Media release

    Progress welcome in resolving Bougainville mine grievances

    The parties should be commended for their progress. It is also an encouraging sign of practical progress from Rio Tinto under its new leadership.

  3. Media release

    Rio Tinto board delivers final warning to climate blockers

    “For the first time, the board of an Australian company has supported a shareholder resolution. Rio Tinto should be commended for this."

  4. Media release

    Rio Tinto must stop funding climate blockers

    “Despite Rio Tinto’s Chairman and new CEO proclaiming their commitment to climate action, the company’s paid lobbyists continue to stand in the way of climate action.”

  5. Shareholder Resolution

    ACCR Shareholder Resolutions to Rio Tinto Ltd on climate-related lobbying

    The Australasian Centre for Corporate Responsibility (ACCR) has filed a shareholder resolution asking Rio Tinto (ASX:RIO) to immediately review the advocacy of its industry associations and suspend membership of groups found to be lobbying inconsistently with the Paris Agreement.

  6. Media release

    The clean out continues at Rio Tinto

    There is no realistic prospect of Rio Tinto rebuilding relationships, trust and reputation while those responsible for the degradation of its culture and social performance remain on the board.

  7. Media release

    Rio Tinto becomes first Australian company to commit to climate vote

    This commitment by Rio Tinto heaps further pressure on Santos and Woodside to support ACCR’s resolutions, which will allow shareholders a vote on their climate plans.

  8. Media release

    ‘An afterthought’: Investors must hold Rio Chair to account

    “This is an elementary and entirely avoidable blunder by Thompson, reasonably interpreted by the PKKP as evidence that Rio still views its relationship with traditional owners as ‘an afterthought’.”

  9. Media release

    Juukan Gorge Caves Inquiry—serial and cumulative failings

    “The Inquiry’s diligent work has thrown a long-overdue light on the atrocious treatment of First Nations Australians by governments and mining companies. No one has escaped censure.”

  10. Media release

    Rio Tinto takes the first step to recovery

    ACCR has welcomed the exit of Rio CEO, Jean-Sébastien Jacques, head of Corporate Relations Simone Niven and Head of Iron Ore Chris Salisbury, but remains concerned at the lack of cultural understanding displayed by the company and its board — specifically in the length of time it took to address this destruction of heritage.

  11. Media release

    Rio board review: financial penalties completely off the mark of damage caused; CEO must go

    “Rio Tinto’s board review is highly disappointing. It amounts to little more than a public relations exercise that still attempts to blame the PKKP; previous Rio Tinto administrations; and anyone else, rather than the company’s current senior management.”

  12. Research

    Submission: Parliamentary Inquiry into the destruction of 46,000 year old caves at the Juukan Gorge

    Submission by the Australasian Centre for Corporate Responsibility (ACCR) to the Joint Standing Committee on Northern Australia, Parliamentary Inquiry into the destruction of 46,000 year old caves at the Juukan Gorge in the Pilbara region of Western Australia.

  13. Media release

    Rio Tinto rebukes MCA on thermal coal, does not support use of Kyoto carryover credits, but keeps funding climate wreckers

  14. Media release

    Rio Tinto Industry Association commitment

  15. Media release

    Rio Tinto: 18% vote against coal lobby

  16. Media release

    Rio Tinto decision not to allow the resolution to be heard at the UK AGM