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RIO - Rio Tinto News Story

6101p -185.0  -2.9%

Last Trade - 30/07/21

Basic Materials
Large Cap
Market Cap £101.77bn
Enterprise Value £103.03bn
Revenue £41.78bn
Position in Universe 13th / 1800

Rio Tinto partners with Schneider Electric to meet decarbonisation goals

Wed 23rd June, 2021 2:59pm
LONDON, June 23 (Reuters) - Global diversified miner Rio
Tinto  RIO.L   RIO.AX  has partnered with French electrical
equipment group Schneider Electric  SCELIA.UL  to utilise each
others' materials and services, the companies said on Wednesday.
    Companies around the world are pledging a net-zero emission
target by 2050, aligning themselves with the Paris Climate
Agreement goal of limiting the global temperature rise to 1.5
degrees Celsius.
    To achieve that, big carbon-emitting firms such as miners,
are setting short- and medium-term targets achievable via
partnerships and technological innovations.
    Schneider Electric, which sells products ranging from
electrical car chargers to industrial robotics, will use
materials, such as low-carbon aluminium and copper produced by
Rio Tinto with renewable power, iron ore, and borates. 
    In turn, Rio Tinto will utilise low-carbon sourced energy
and industrial services from Schneider Electric. 
    The two said they are working jointly to develop digital
platforms, technologies and solutions to be deployed across the
metals and mining supply chain to drive further decarbonisation.

 (Reporting by Clara Denina
Editing by Bernadette Baum)
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