Mining giant Rio unlikely to meet 2025 climate targets
The company's latest financial results also stated that net profits had slumped more than 40 percent in the past six months, due to weaker demand and lower commodity prices.
Rio Tinto, one of Australia's biggest polluters, has turned heads in recent years by committing itself to a series of ambitious climate goals.
But Wednesday's report indicated one of its earliest targets -- cutting emissions 15 percent by 2025 -- was in jeopardy.
This was caused by a range of factors, including changing construction timelines and "a requirement for additional abatement to address underlying emissions growth".
The company added that, despite the setback, it remained committed to reducing emissions 50 percent by 2030.
Rio Tinto's revenues fell in most major markets, according to the results, including China, the United States, Japan and Europe.
Earnings after tax fell to US$5.1 billion in the first half of 2023, as the price of iron ore, copper and alumina fell. That was down from $8.9 billion in the same period a year ago.
"We saw lower prices, in general, for our commodities, in line with slowing global demand," the company told investors.
Despite the earnings miss, chief executive Jakob Stausholm said the company was still set for "long-term success" with the all-important iron ore business remaining solid.
But Stausholm said he was "mindful that we need to raise our game across many of our other operations".
