Rio Tinto will join a global initiative of more than 50 companies, who aim to commercialise zero carbon technologies by pooling members’ purchasing power and supply chains.
With a collective market value of $8.5 trillion, the First Movers Coalition includes 50 companies from across five continents.
The initiative is led by the World Economic Forum and the US Government, and targets sectors including aluminium, aviation, chemicals, concrete, shipping, steel, and trucking, which are responsible for 30 per cent of global emissions.
Head of the First Movers Coalition at the World Economic Forum, Nancy Gillis, said Rio Tinto would make a valuable contribution to the coalition’s efforts.
“Rio Tinto’s commitment to a sustainable future makes the company an impactful addition to the First Movers Coalition,” Ms Gillis said.
“We look forward to collaborating with Rio Tinto to encourage clean energy innovation and transition the mining industry toward a zero-carbon future.”
Rio Tinto’s Chief Commercial Officer, Alf Barrios, said Rio Tinto’s substantial buying power would support the coalition’s ultimate goal of supporting new markets.
“We want to bring Rio Tinto’s considerable buying power to help build sustainable supply chains for emerging green technologies,” Mr Barrios said.
“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.
“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.”
