Background In 2021 Rio Tinto Group launched a new business strategy focused on low-carbon transition. At Rio Tintos annual general meeting held in April 2022, investment management firm Sarasin & Partners voted against the 2021 companys financial statements 1 due to its lack of disclosures on actions to align with a 1.5C temperature resilience target and the related financial implications (i.e., net zero accounting disclosures). Rio Tinto is a significant emitter of greenhouse gas emissions with large Scope 3 emissions.

Specific Requirements Assume you are a business consultant, reporting to the Board of Directors of Rio Tinto, the worlds second-largest metals and mining corporation. Rio Tinto Group is a dual-listed company traded on the London Stock Exchange (trading as Rio Tinto Plc) and the Australian Securities Exchange (trading as Rio Tinto Ltd). You have been contracted to provide a business report to Rio Tintos Board of Directors which:

. provides recommendations to Rio Tinto on how to address Sarasin & Partners criticisms on its net zero accounting disclosures. Hint: You may refer to the net zero accounting disclosures (particularly Scope 1, 2 and 3 emission disclosures) of Rio Tintos peer firms (e.g.,Anglo American, BHP Group, Fortescue Metals Group and Vale)