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

Company: RIO TINTO LTD
Filing Date: 2025-02-20
Form: 20-F
Chunk 25
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 outcome of free cash flow, which itself is reflected in the STIP. In the longer term, net (debt)/cash influences TSR, which is reflected in the LTIP (see pages 130 - 134 ). Our performance in 2024 and forward plan Net debt increased by $1.3 billion to $5.5 billion . This was largely the result of free cash flow of $5.6 billion , offset by dividends of $7.0 billion . We remain focused on our consistent cash flow generation as we execute our strategy to deliver organic growth through our major projects, while continuing to drive for efficiencies across our existing assets. Gross Scope 1 and 2 greenhouse gas emissions (adjusted equity Mt CO 2 e) l l l Definition We measure our Scope 1 and 2 greenhouse gas emissions on an equity basis. It includes the equity share of Scope 1 and 2 emissions from managed and non-managed operations expressed in million metric tonnes of carbon dioxide equivalent. Relevance to strategy Climate risks and opportunities have formed part of our strategic thinking and investment decisions for over 2 decades. The low-carbon transition is at the heart of our business strategy. We focus on growing production in the materials that enable the transition, decarbonising our operations and partnering with our customers and suppliers to decarbonise our value chains. Link to executive remuneration Climate change is included in our ESG metrics for executive remuneration with a weighting of 10% of the STIP (see page 130 ). We also have a decarbonisation measure as part of our LTIP with a 20% weighting. See pages 134 - 135 for further information. Our performance in 2024 and forward plan Our adjusted gross Scope 1 and 2 emissions were 30.7 Mt CO 2 e in 2024, which is 14% below our 2018 baseline of 35.7Mt CO 2 e. In 2024 we made significant progress and reduced our emissions by 3.2Mt CO 2 e. This has primarily been achieved by new renewable energy contracts, including the limited use of unbundled renewable energy certificates in locations where new generating assets are under development or where power purchase agreements have been agreed . In addition we have made commitments to projects that are expected to deliver abatement of around 3.6Mt per year in future periods mostly through renewable electricity and biofuels. In addition, imminent investment decisions could deliver further abatement by 2030 and include