MELBOURNE, Australia--Rio Tinto Japan has joined Japan's Green Value Chain Platform Network (GVC Network), a collaboration established by the Japanese Ministry of the Environment to lead transparent decarbonisation efforts in the country.
Representative Director and Rio Tinto Japan President Bill Horie said: "We are honoured to be welcomed into the Ministry of Environment's GVC Network and look forward to engaging on innovative approaches with customers, government and industry to help reduce Japan's carbon footprint".
Formed in 2018, GVC Network member companies work to set science-based targets for emissions reduction that are economically feasible and effective for the achievement of their Scope 1, 2 and 3 targets; and to share solutions related to renewable energy, energy conservation, or energy storage.
Rio Tinto aims to reach net zero emissions across its operations by 2050. Its efforts to support decarbonisation through state-of-the-art solutions such as START Responsible Aluminium - an industry-leading traceability program - aligns with the GVC Network intentions.
Existing GVC Network member, Meiji Holdings, welcomed Rio Tinto as a new fellow member. "We look forward to working on developing science-based targets together," said Shinji Matsuoka, Executive Officer, Sustainable Management Department, Meiji Holdings Co., Ltd. Meiji Group has been operating for more than 100 years and is a major Japanese consumer brand providing dairy products, confectioneries, nutritional products and pharmaceuticals.
The GVC Network collaborates formally through networking and has 141 members representing a variety of industries: electronics, machinery and equipment, automotive, airline, pharmaceutical, chemical, cosmetics, building and construction, real estate, housing, printing, food and beverage, marine, retailing, publishing, logistics.
To help reach net zero emissions across its operations by 2050, Rio Tinto is targeting a reduction in emissions intensity by 30% and in its absolute emissions by 15%, both by 2030 and from 2018 levels. The company also plans to spend approximately $1 billion over five years on emissions reduction projects, research and development, and activities to enhance the climate resilience of our business.
Rio Tinto has outlined a series of measurable and impactful Scope 3 emissions reduction goals to guide its approach which features partnerships across China, Japan and South Korea - countries which account for 88% of the company's value chain emissions (Scope 3).
The company has also committed that its growth over the next decade will be carbon neutral.
