Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 135

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 135
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 secured 2.2 GW of renewable energy for the Boyne Island smelter through PPAs. Although the Pacific Aluminium Operations average is in the 4th quartile of the aluminium cost curve, repowering the smelter should help it move lower down the cost curve. This decision highlights the trade-offs between advancing decarbonisation goals and supporting local employment in the Gladstone region. Climate-related matters are also a key part of the biannual strategy sessions.

| Annual Report on Form 20-F 2024 | 70 | riotinto.com |

Strategic report | Our approach to ESG | Climate Action Plan

In 2022, our shareholders supported the CAP put forward to them by the Board, in a non- binding advisory vote on our ambitions, emissions targets and actions to achieve them. The Board further committed to repeating this vote every 3 years, at a minimum, unless there were significant changes in the interim, in which case the CAP would be returned to the next immediate AGM. The principles which formed the basis for the development of the 2025 CAP were presented to the Board in October and approved as part of the Annual Report preparation and review process. Progress against commitments in the CAP is reported once a year to our stakeholders via the climate disclosures in the Annual Report. These disclosures are supplemented with briefing papers, our Quarterly Operations Review, press releases and other reports on our progress. In addition, we consulted our shareholders and CSOs during the work to update this 2025 Climate Action Plan. Given the importance of climate-related matters, we have specifically considered candidates with experience in climate and renewable energy when hiring directors. When considering the composition of the Board, we used an external consultant to identify where we need particular strengths and skills on the Board in relation to climate and the Group’s forward strategy. We also request updates from our Directors biannually regarding any training they have undertaken, maintaining a register of this information. We expect our Directors to remain informed and up to date on relevant matters. To further support the Board’s strategic oversight of climate risk, we also conduct teach-in sessions for new projects and key updates on decarbonisation initiatives. These sessions are focused on strategic priorities and are also held when critical decisions need to be made. For example, during the Pacific Aluminium Operations repowering project, the Chief Decarbonisation Officer briefed the Board on our objectives. While these teach-ins contribute to capacity building, there is a need for more formal training. We will define measures taken to further enhance Board competencies with respect to managing