RIO ASX: Rio Tinto bows to investor pressure on green steel...

RIO ASX: Rio Tinto bows to investor pressure on green steel spending (copyright link)



"Rio Tinto has bowed to sustained pressure from big investors to start reporting how much it spends on so-called green steel projects and other efforts to reduce carbon emissions for iron ore mined in Australia and turned into steel in China.The decision improves so-called scope 3 disclosures and comes after what Fidelity International and the Australian Council of Superannuation Investors described as years of lobbying for better financial transparency. Fidelity and ACSI are charged with representing the priorities of Climate Action 100, a group of institutional investors responsible for about $US68 trillion ($104 trillion) in assets under management, in discussions with Rio. Rio said on Tuesday that it had agreed to beef up its reporting on efforts to reduce carbon emissions from the processing of iron ore by its mainly Chinese steel-making customers."

You can't stop the train Rio, welcome on the green steel revolution! Support MGT, we need some of that money for our 2.5b mine.