Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 138

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 138
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 Energy and Climate team In 2022, we established a central team, Rio Tinto Energy and Climate (RTEC), to deliver progress on our CAP. This is led by the Chief Decarbonisation Officer, who reports to the Chief Technical Officer and is accountable for all aspects of the CAP. The RTEC team is structured according to the main areas of our abatement work that drive decarbonisation across our operations, including a Nature-based Solutions team. Two additional teams complete the RTEC organisation: a Decarbonisation Office that monitors and forecasts GHG emissions, tracks investment decisions and coordinates our approach to physical climate risks; and a Climate Policy and Advocacy team that is responsible for engaging with industry associations, civil society organisations, investors, government and other stakeholders on climate related policies, regulation and reporting. Rio Tinto Commercial drives the approach to Scope 3 emissions, given its responsibility for procurement, shipping and sales to our customers. The Decarbonisation Office prepares a quarterly progress report for the Executive Committee, which includes operational emissions and progress on abatement projects and other areas of our CAP. Management of climate-related risks and opportunities The Board approves our risk appetite and oversees our m aterial risks, and is supported in monitoring material risks by the Audit & Risk and Sustainability committees. Climate-related risks and opportunities are integrated in our enterprise-wide risk management framework. These are identified by the product group or supporting functions, then included in the appropriate risk register. These will be assigned a Risk owner and evaluated on the maximum reasonable consequence and likelihood of the risk. Consequences may include the impact on Group free cash flow or business value, or reputation and licence to operate. These risks are escalated to the appropriate level of management for oversight and action. See pages 88-91 f or more detail on our risk management process, emerging risks, materiality matrix and assessment of m aterial risks. We actively monitor and assess the potential impact of climate risks and opportunities on our operations and business through scenario planning. See pages 43 and 66 for more detail on how we use scenarios to identify climate- related transition and physical risks and portfolio opportunities. Climate change and the low-carbon transition remain critical emerging risks, with potential to have a significant impact on our business and the communities where we operate. Emerging risks that could materially impact strategic objectives are incorporated within our m aterial risks and, where possible, we develop responses to mitigate threats and create opportunities for the Group. Climate- related risks and opportunities linked to several of these m aterial risks