Rio Tinto Signs MoU With Chinese Steel Producer To Reduce Carbon Emissions

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said Wednesday that it signed a Memorandum of Understanding with China's steel producer, China Baowu Steel Group and Tsinghua University to develop and implement new methods to reduce carbon emissions and improve environmental performance across the steel value chain.

The MOU will enable the formation of a joint working group tasked with identifying a pathway to support the goal of reducing carbon emissions across the entire steel value chain, which accounts for between seven and nine per cent of the world's carbon emissions, the company said.