Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 123

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 123
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 to ESG | Climate Action Plan

Just transition We acknowledge that the low-carbon transition requires substantial investment and significant changes to our current energy systems and supply chains. These transition activities introduce new social risks and opportunities to host communities, employees, contractors and customers, and have the potential to disproportionately affect those that are most vulnerable to change. Through our Human Rights Policy we have committed to “support a low-carbon transition that is rights-respecting, socially inclusive and just”. We will embed just transition principles into our decarbonisation strategy, working to minimise impacts and optimise socioeconomic opportunities. Our progress on our 2024 commitments was largely through establishing strong partnerships and working transparently with local communities. Partnering to facilitate a just transition The quantum of minerals needed to realise the global energy transition will require new mines, many of which will be located on the lands of Indigenous or land-connected peoples, or in vulnerable socioeconomic regions. Large areas of land will also be required for developing renewable energy projects. Respectful and ongoing engagement will be at the centre of these new developments. In Australia, our agreements with the Yindjibarndi Energy Corporation and the Ngarluma Aboriginal Corporation are the first Indigenous partnerships in our renewable energy portfolio, and are important pathways into future energy projects. We also have a growing portfolio of nature-based solutions projects, where we work with local partners to deliver high integrity projects which foster positive outcomes for people, nature, and climate. These partnerships are co-designed with communities to secure resilient and improved livelihoods through the protection, sustainable management, and restoration of nature. Managing impacts and opportunities When we make decisions on decarbonisation projects across our work streams (eg renewables, diesel transition, nature-based solutions) we aim to optimise environmental and social outcomes, while effectively managing expected and unintended impacts. For communities more broadly, our Group social investment framework has an “economic opportunity and just transition” investment pillar supported by the regional economic development framework. There are multiple projects underway worldwide to strengthen regional economic diversification and equip communities to tackle the challenges of climate change. Through the social investment reporting system, data is already collected around how we contribute to “stable, beneficial work and economic opportunities” and delivering “diverse, inclusive and secure economies”. We also apply local and Indigenous participation requirements throughout our energy and other procurement processes. This ensures that local and Indigenous employment and procurement are optimised, thereby building capability within these groups to take advantage of transition- related opportunities. For our workforce, this means we need to support affected employees to transition to