News: RIO UPDATE 1-Rio Tinto aims to halve carbon emissions by 2030

(Adds background, company comment)

Oct 20 (Reuters) - Anglo-Australian miner Rio Tinto (RIO) set a new target on Wednesday to reduce carbon emissions by 50% by 2030 and earmarked $7.5 billion in spending to achieve it.

As steel and iron ore producers continue their push to cut carbon emissions in line with global climate commitments by 2050, Rio said it sought to halve its scope 1 and 2 carbon emissions - direct emissions by the company and certain types of indirect emissions, respectively - by the end of the decade.

"To meet additional demand created by the global drive to net zero emissions, Rio Tinto will prioritise growth capital in commodities vital for this transition," the company said in a statement.

To meet this goal, the miner would double its growth capex to about $3 billion a year from 2023. Rio aims at a 15% reduction in emissions by 2025, it added.