On Tuesday, September 20, Rio Tinto announced that it would join the tribe of more than 50 companies to be a part of the First Movers Coalition forum, a global initiative to help commercialise zero-carbon technologies by channelising purchasing power and supply chains.

Companies with a combined market value of about $8.5 trillion across five continents represent the forum with a common interest in creating early markets for innovative clean energy technologies.

The forum has companies from the aluminium, aviation, chemicals, concrete, shipping, steel, and trucking industry responsible for 30 per cent of global emissions. Soon the emission is estimated to rise to over 50 per cent if no urgent step is taken on clean technology innovation.

Rio Tinto is on the way to achieving net zero emissions by 2050, but initially, it aims to reduce 50 per cent of emissions in Scope 1 and 2 by 2030, backed by an estimated investment of approximately $5.7 billion capital.

Besides, the company is committed to using more zero emissions fuel for its shipping fleet and making greater use of suppliers who also indulge in zero emission fuels for shipping and aviation. Rio Tinto has also pledged to acquire heavy haul trucks that emit zero carbon.

Rio Tinto Chief Commercial Officer, Alf Barrios, said: “We want to bring Rio Tinto’s considerable buying power to help build sustainable supply chains for emerging green technologies. The low-carbon transition is at the heart of our business strategy and success will require large scale of change throughout the value chain, which our pledges to the First Movers Coalition are aimed at supporting.”

He added, “As a member of the First Movers Coalition, we also look forward to building on our existing network of partnerships to support the development of new technologies to help power our way to a net-zero future.”

Head of the First Movers Coalition at the World Economic Forum, Nancy Gillis, said: “Rio Tinto’s commitment to a sustainable future makes the company an impactful addition to the First Movers Coalition. We look forward to collaborating with Rio Tinto to encourage clean energy innovation and transition the mining industry toward a zero-carbon future.”