Skip to content
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
Insurance Journal - Property Casualty Industry News

Featured Stories

  • 2024 P/C Combined Ratio Best in More Than a Decade
  • Judge Backs 17% State Farm Rate Hike in California
  • Articles
  • Jobs
  • Markets

Current Magazine

current magazine
  • Read Online
  • Subscribe
  • Login
  • Front Page
    • National
    • International
    • Most Popular
    • Magazine
    • Forums
    • Blogs
    • Videos/Podcasts
    • Newsletters
  • News
    • Most Popular
    • National
    • International
    • East
    • Midwest
    • South Central
    • Southeast
    • West
  • Magazines
  • Research
  • Directories
  • Jobs
  • Features
    • Events
    • Forums
    • Market Directories
    • Quotes
    • Polls
    • Rankings & Awards
    • Insurance Giving Back
  • Subscribe

Climate Goals Still Make Business Sense, Rio Tinto CEO Says

By David Stringer | February 21, 2025
Email This Subscribe to Newsletter
  • Article
  • 0 Comments

Rio Tinto Group, the world’s second-largest mining company and a major polluter, came out in support of corporate efforts to curb emissions, insisting that pursuing green targets can add value.

“Despite the fragmented policy landscape, decarbonization can still be good economics,” Chief Executive Officer Jakob Stausholm said in an annual report on Wednesday. The miner’s projects typically “enhance the value of our business by reducing our exposure to volatile fossil fuel prices and higher carbon penalty costs,” he added.

His comments come as firms from Walmart Inc. to the Coca-Cola Co. defer or abandon climate and environmental ambitions, arguing policy settings and slow advances in technology are making planned emissions cuts unfeasible. Clients and suppliers “have faced some challenges” in decarbonizing their operations, HSBC Holdings Plc’s CEO Georges Elhedery said on Wednesday as the bank delayed some of its green targets.

“The challenge is not straightforward,” Rio’s Stausholm said in the report. “We need to navigate a complex, rapidly evolving regulatory landscape — but we are making progress and maintaining financial discipline.”

Stausholm outlined the producer’s annual earnings on Wednesday during a visit to Washington to meet with US legislators and others to better understand the Trump administration’s policy plans, which have included a sharp retreat from a global leadership role on climate action.

The miner’s gross scope one and two — or direct — emissions fell in 2024 and are on track to meet a target to cut pollution by 15% from 2018 levels by this year. Scope 3 emissions, the majority of which are tied to customers processing the firm’s iron ore, bauxite and alumina, rose slightly.

Rio’s spending on decarbonization activities rose to $589 million last year from $425 million in 2023, it said in the report.

Rival BHP Group, the world’s largest miner, last week reported a decline in operational emissions in the six months to Dec. 31 from the same period a year earlier.

Photograph: Rio Tinto CEO Jakob Stausholm; photo credit: Victor J. Blue/Bloomberg

Copyright 2025 Bloomberg.

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

Space War: Marsh Sues Willis Over Aviation Insurance Hires Soliciting Clients
FEMA Chief Says Agency Will Raise State Burden for Disasters to 50%
Brett Favre’s Defamation Suit Against State Auditor Can Move Forward, Court Says
EPA to Rollback Limits on ‘Forever Chemicals’ in Drinking Water

Written By David Stringer

More From Author

The most important insurance news,
in your inbox every business day.

Get the insurance industry's trusted newsletter

Email This Subscribe to Newsletter
  • Categories: International & Reinsurance NewsTopics: Climate Change, decarbonization, environmental social and governance (ESG) criteria, net zero emissions, Rio Tinto Group
  • Have a hot lead? Email us at newsdesk@insurancejournal.com

Add a CommentSee All Comments (0)Add a Comment Cancel reply

Your email address will not be published. Required fields are marked *

*

*

More News
EEOC_SealAustin Bar to Pay $42K Over Pregnancy Discrimination Lawsuit
EU to Propose Removing Business Barriers to Enhance Competitiveness Amid US Tariffs
Former Progressive CEO Renwick, 69, Dies
Hack of Contractor Was at Root of Massive Federal Data Breach
More News Features

Read This Next

  • Climate Goals Still Make Business Sense, Rio Tinto CEO Says
  • Despite Backlash From Trump, DEI Hasn't Disappeared at US Companies
  • Staff Cuts Help Fuel GEICO Profit; Auto Insurer Not 'Pouring Money' Into AI
  • Driverless Trucking Firm Aurora Puts Human Back in Driver's Seat
  • Coinbase Hackers Had Access to Customer Data Since January

Insurance Jobs

  • Senior Business Analyst (Personal Insurance) - Hartford, CT
  • Senior Director, Health & Benefits, Client Service Team - Cleveland, OH
  • Auto Blend Claim Representative II - Charlotte, NC
  • Health & Benefits Associate - Houston, TX
  • SDET/ Senior Automation Engineer - Remote, IL
MyNewMarkets
  • 5 Ways to Prepare for Healthcare Liability Changes in 2025
  • What's Next For Workers' Comp?
  • Soft D&O Market May Come to an End as Risk Complexities Rise
  • Exclusions: Active Assailant Coverage - Oh My!
  • 10 Things to Know About Insuring Boats & Marinas
Claims Journal
  • State Farm Still Wants a 30% Rate Increase in California
  • No NOAA Large-Disaster Data Could Hurt Insurer Grasp of Secondary Perils, Says AM Best
  • Marks & Spencer Says Cyberattack to Cost $403 Million
  • APCIA Says Record Shows 'Minimal Complaints' on Hurricane Milton, Helene Claims
  • Mitchell: Claims Frequency of Battery Electric Vehicles up as Sales Face Tariff Threat
Academy of Insurance education
  • May 22 Commercial Property: Five Bombs and How to Defuse Them
  • June 5 E&O and Hard Markets: How Trying to Keep a Client Might Cause Trouble
  • June 12 Rating AI Tools: Balancing Functionality and Security
  • June 19 Can You Hear Me? Yes, I Am Listening!

Insurance News

  • News by Region
  • News by Topic
  • Yesterday

Site Search

Features

  • Insurance Markets Directory
  • Forums
  • A.M. Best Company Ratings
  • Industry Events
  • Agencies For Sale
  • Newswire
  • Insurance Jobs
  • Rankings & Awards

Connect with us

  • Email Newsletters
  • Magazine Subscriptions
  • For Your Website
  • RSS Feeds
  • Twitter
  • Facebook
  • LinkedIn
  • Do Not Sell My Info

Insurance Journal

  • Submit News
  • Advertise
  • Subscribe
  • Reprints
  • Link to Us
  • Contact Us

Wells Media Group Network

  • Insurance Journal
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
© 2025 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map