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Rio Tinto chairman Simon Thompson rejects targets for Chinese steel emissions

Steel News - Published on Fri, 10 May 2019

Image Source: The West Australian
The West Australian reported that Rio Tinto chairman Mr Simon Thompson, while responding to environmentalists’ requests for the mining giant to set targets for its greenhouse gas emissions at AGM in Perth, has described steel as being essential to human progress and says there are no obvious substitutes for the material. Company has already set targets for its own emissions but could not do so for those of its steelmaking customers in China, South Korea and Japan.”

Mr Thompson said iron ore was an essential component of steel but it was the coking coal used in the manufacturing that produced the emissions. He said “There are alternatives to coking coal in the steel making process including hydrogen, biomass and carbon capture of the emissions from coking coal. Company has committed to work with its customers and stakeholders to reduce emissions, noting its high grade iron ore was part of the solution to reducing emissions. What we cannot do is set hard targets for our customers. We are not trying to muddy the waters, we want to be absolutely transparent on this.”

He said Rio had committed to de-carbonise its business by 2050 in accordance with the Paris agreement.

Environmental lobby group Market Forces wants the company to set targets for its own operations as well as those of its customers. Market Forces says Rio is Australia’s fifth highest greenhouse gas emitting company in terms of its own emissions, despite having divested its coal assets in the country.

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Posted By : Ratan Singh on Fri, 10 May 2019
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