Rio Tinto warns climate inaction poses ‘greatest long-term threat’

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The brand new chairman of worldwide mining large Rio Tinto has described inaction on local weather change as “maybe the best long-term menace” dealing with the enterprise and promised it might be a part of the answer slightly than the issue.

Talking at an investor assembly on Monday, Rio Tinto chairman Simon Thompson stated society – notably Millennials – had been demanding greater requirements from the businesses they labored for and invested their cash in. He signalled a renewed emphasis from Rio Tinto’s board on environmental, social and governance points, and on persevering with to reshape its portfolio for the transition to a “low-carbon economic system”.

Rio Tinto chairman Simon Thompson.

Rio Tinto chairman Simon Thompson.Credit score:Eddie Jim

“Maybe the best long-term menace to Rio Tinto is that if enterprise, traders, shoppers and particularly governments, collectively fail to take motion on local weather change,” he stated.

Rio Tinto is amongst plenty of main mining and assets corporations to escalate warnings towards political inaction on world warming and name for a value on carbon, regardless of the Morrison authorities rejecting the necessity to overhaul local weather insurance policies earlier than the subsequent federal election.

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