Global iron-ore major Rio Tinto has signed a memorandum of understanding (MoU) with steel producer China Baowu Steel Group and Tsinghua University to develop methods to reduce carbon emissions and to improve the 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 7% and 9% of the world’s carbon emissions.