Anglo-Australian mining giant Rio Tinto Group said last week it will join the First Movers Coalition in an effort at continuing its progress to bringing zero-carbon aluminium and other metals to market at affordable prices.
Rio Tinto joins more than four dozen companies with a combined market value of around US$8.5 trillion. Members on five continents have come together under the leadership of the World Economic Forum and the United States government to collaborate on clean technology and other methods for cutting emissions.
Rio Tinto Chief Commercial Officer Alf Barrios said in a press release that his firm’s addition to the Coalition is beneficial to all parties involved.
“We want to bring Rio Tinto’s considerable buying power to help build sustainable supply chains for emerging green technologies. The low-carbon transition is at the heart of our business strategy and success will require large scale of change throughout the value chain, which our pledges to the First Movers Coalition are aimed at supporting.”
“As a member of the First Movers Coalition, we also look forward to building on our existing network of partnerships to support the development of new technologies to help power our way to a net-zero future,” he continued.
The First Movers Coalition is dedicated to several sectors of the market, including aluminium, aviation, chemicals, concrete, shipping, steel, and trucking. About a third of global emissions emanate from those sectors, with the share expected to rise to over half if present trends continue.
Head of the First Movers Coalition at the World Economic Forum Nancy Gillis lauded Rio Tinto for its goal of zero-carbon metal production.
“Rio Tinto’s commitment to a sustainable future makes the company an impactful addition to the First Movers Coalition. We look forward to collaborating with Rio Tinto to encourage clean energy innovation and transition the mining industry toward a zero-carbon future.”
Rio Tinto is currently working toward net-zero carbon emission by mid-century and a reduction by half of Scope 1 and 2 emissions by the end of the decade. The firm has dedicated about US$7.5 billion so far to achieve that goal.