Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 137

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 137
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 145 for four 2024 remuneration outcomes and the incorporation of climate- related measures in the STIP and LTIP. Management role Investment Committee The Investment Committee reviews and approves the Group’s capital expenditure in relation to abatement projects and climate change research and development. Decarbonisation investment decisions are made under a dedicated evaluation framework that considers the value of the investment and impact on cost base, the level of abatement, the maturity of the technology, the competitiveness of the asset and its policy context, and alternative options on the pathway to net zero. Projects are also assessed against our approach to a just transition, with consideration of the impact on employees, local communities and industry.

| For more informationsee our Capitalallocation and investment framework onpage63for more detail. |

Chief Executive and Executive Committee The Chief Executive is responsible for delivering the CAP, as approved by the Board, with the Executive Committee supporting this role. Risk management, portfolio reviews, capital investments, annual financial planning and our approach to government engagement are integrated into our approach to climate change and emissions targets. The annual financial planning process focuses on the short term (up to 2 years). The new growth and decarbonisation strategy is part of the medium-term planning process. Remuneration: Our Chief Executive’s performance objectives in the STIP include delivery of the Group’s strategy on climate change. These are cascaded down into the annual objectives of relevant members of the Executive Committee, including the Chief Technical Officer, and other members of senior management. Decarbonisation is also included as a performance measure in the STIP and LTIP as described above. See pages 119 - 145 for our 2024 remuneration outcomes and the incorporation of climate-related measures in the STIP and LTIP.

| Annual Report on Form 20-F 2024 | 71 | riotinto.com |

Strategic report | Our approach to ESG | Climate Action Plan

As part of our updated evaluation approach approved by ExCo and the Board in April 2024, we will hold a decarbonisation review session once or twice a year as part of the regular ExCo schedule to discuss the overall decarbonisation roadmap and abatement portfolio. This will also cover projects and investment proposals related to mitigating Scope 3 emissions. The review session will consider any future changes to our targets or commitments should they be necessary. The Chief Decarbonisation Officer and Rio Tinto Energy and Climate team will organise and facilitate the forums, with inputs from our Commercial team on Scope 3 projects.