Rio Tinto Ltd is an Australian multinational company and one of the world's largest metals and mining corporations.
Rio Tinto Limited (ASX:RIO) 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. In 2022, Rio Tinto withdrew its membership of the Queensland Resources Council.
ACCR is commenting upon Rio Tinto’s commitment to enhance its approach to climate advocacy by disclosing the policy settings it needs to meet its 2030 climate target of 50% reduction in scope 1 and 2 emissions.
ACCR is commenting on on the Rio Tinto AGM where questions were raised about issues at its QIT Madagascar Minerals (QMM) minerals sands mine in Madagascar and its approach to climate change.
ACCR is calling on Origin Energy (ASX:ORG) and Rio Tinto (ASX:RIO) to take immediate action to quarantine the interests of both Oleg Deripaska and Viktor Vekselberg in their respective joint ventures.
ACCR welcomes Rio Tinto breaking ranks with the WA Chamber of Minerals and Energy by throwing its support behind the Commonwealth cultural heritage protection law reform process.
ACCR believes Rio Tinto’s 2030 Scope 1 and 2 target, strategy and capital allocation commitments are significant and worthy of conditional investor support.
The Australasian Centre for Corporate Responsibility (ACCR) has withdrawn the shareholder resolution asking Rio Tinto (ASX:RIO) to suspend membership of industry associations that continue to advocate for the development of new and expanded coal mines.
ACCR is calling on Australian companies to immediately review their relationships with companies linked to the oligarchs aligned with Russian President Vladimir Putin.
ACCR welcomes the publication of the Report into Workplace Culture at Rio Tinto (ASX:RIO) conducted by former Australian sex discrimination commissioner Elizabeth Broderick.
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.
“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.”
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.
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.
“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’.”
“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.”
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.
“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.”
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.
