Company: RTNTF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001628280-25-006642
Chunk: 119

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 119
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by or around 2050”, with interim non-binding emissions reduction targets set for 2030 and 2040. To deliver on the reduction targets, the IMO is currently working on the development of a basket of candidate mid-term GHG reduction measures (eg fuel standard with GHG pricing mechanism), with a view to finalising these in 2025, with entry into force in 2027. Through a range of industry partnerships and via direct government engagement we seek to positively shape regulatory measures that are sufficiently robust to catalyse and accelerate shipping’s energy transition. In 2024, we met our target to use actual voyage data (eg actual fuel consumption) rather than industry estimates for more than 95% of our cargo shipments 5 . 1. Although the FMC currently employs the terminology “zero-emission” rather than “low-carbon”, with a guiding principle of delivering a well-to-wake GHG emission reduction of 80% or more compared to fuel oil, we have updated our terminology to reflect that these fuels are unlikely to be fully net zero emissions on a lifecycle basis over the coming years. While we endeavour to achieve the guiding principle proposed by the FMC, we may initially consider fuel pathways with a lesser emission reduction with consideration to factors such as supply, availability of technology and regulatory developments from the IMO. 2. Subject to the availability of technology, supply, safety standards and a reasonable price premium. 3. Relative to IMO’s 2008 baseline. 4. A range of fuels and technologies are likely to comprise shipping’s “end state”, which may also include drop-in biofuels, bio/e-LNG and even fossil fuels which may be complemented by carbon capture technology. 5. Where Rio Tinto m anages the freight (excluding free on board shipments). Procurement Upstream Scope 3 emissions from procurement were 22.2Mt CO 2 e (excluding business travel) in 2024, split between purchased fuels, goods and services. The goods and services are further divided between emissions related to operational

| Procurement decarbonisationtargets–Engage with 50 of our highest-emittingsuppliers on emissions reduction,focused on driving supplier accountabilityfor setting and delivering against theirdecarbonisation targets.–Implement decarbonisationevaluation criteria for new sourcing inhigh-emitting categories1. |

expenditure purchases (such as caustic, explosives, coke, pitch) of 14.8Mt CO 2 e, and capital expenditure purchases (such as