Strong Foundation for Growth, Decarbonisation and Shareholder Returns
Value accretive decarbonisation investment
$7.5bn of estimated investments 5 between 2022 and 2030 -
value accretive in aggregate at a modest carbon price
Mt CO₂e
-50%
32.5
1.5
1.1
5.2
4.3
4.1
16.3
20181
Business-
as-usual²
Pilbara
renewables
Pacific Aluminum
Operations
repowering
MACC
projects³
Other4
2030
12018 Scope 1 and 2 emissions equity baseline, adjusted for divestments | 2 The business-as-usual changes in emissions are the result of
volume growth, asset closures and other operational factors | ³ Projects from our Marginal Abatement Cost Curve | 4 Other, including energy
efficiency, ELYSISTM and carbon offsets | 5 The repowering of the two Pacific Aluminium smelters in Australia is assumed to be taking place
via power purchase agreement and are not included in the $7.5bn. Estimated investment as of 31 Dec 2021 | *KPMG has provided limited
assurance over our scope 1 and 2 target information, the alignment with 1.5C and the roadmap to achieving the target
*See Appendix for further details on projects (slides 37-39)
In the Pilbara we consume $150m pa of gas for electricity
generation. Our first GW of renewable capacity can replace
~80% of this
QMM (Madagascar) construction on solar and wind power
plant commenced*
Queensland Alumina Limited boiler feed water heating
project* (115ktpa CO2 emissions reduction) seeks to install
heat recovery equipment to reduce waste energy by 50%
displacing 1.6 PJ pa of coal
Incentivise MACC projects with internal carbon price of
$75/t CO2 initially. Embedded in planning process and
prioritised project pipeline
Open to partnerships and will be disciplined on financing
and use of our balance sheet
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