Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 341

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 341
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cludes assets held under capitalised lease arrangements. Non-current assets pledged as security represent amounts pledged as collateral against US$ 4,011million ( 2023 : US$ 3,994

million ) of loans, which are included in note 20.

| Annual Report on Form 20-F 2024 | 189 | riotinto.com |

Financial statements | Notes to the consolidated financial statements

13 Property, plant and equipment continued

|               | Impact of climate change on our business - useful economic lives of our power generating assetsThe Group has committed to reducing Scope 1 and Scope 2 carbon emissions by50%relative to our 2018 baseline by 2030 and achievingnetzeroemission across our operations by2050. We expect to investUS$5billiontoUS$6billionon carbon abatement projects between2022 and 2030. Transitioning electricity from principally fossil fuel-based power generating assets to principally renewables is critical toachieving that goal. The carrying value of power generating assets is set out in the table below. The weighted average remaining usefuleconomic life of plant and equipment for fossil fuel-based power generating assets is10years(2023:10years). Given the technicallimitations of intermittent renewable energy generation and energy storage systems, and our need for reliable baseload electricity, we expectour current generation assets will be integral to those needs for the foreseeable future. We are investing in research and development andevaluating new market options that may overcome these technical challenges. Should pathways for eliminating fossil fuel power generatingassets be identified we may need to accelerate depreciation or impair the assets; however, at this present moment the requirement for fossilfuel powered back-up means that early retirement of the assets is not expected and no change to depreciation rates is required. |                      |                       |                      |                       |
|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |                 2024 |                       |                 2023 |                       |
|               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      Net book value of power generating assets powered by | LandandbuildingsUS$m | PlantandequipmentUS$m | LandandbuildingsUS$m | PlantandequipmentUS$m |
| –Fossil fuels |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        59 |                  840 |                    87 |                  932 |                       |
| –Renewables   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       177 |