Rio Tinto: Social, Environmental And Economic Challenges
Rio Tinto builds its reputation as trusted partner for investment by using opportunities like social, environmental and economic challenges. Being a mining company it extracts all natural resources; this needs pre, in a process as well as post care of the environment. RIO has always considered corporate responsibility. In 2015, they have been awarded Silver Class in RobecoSAM’s Metals and Mining Sustainability Leaders Group. Dow Jones Sustainability Indexes (DJSI) indexes are qualified by only 10% firms worldwide, whereas Rio Tinto has maintained their position since 2002 in terms of economic, social and environmental criteria. FTSE4Good Index has also awarded Rio in top 1% of their respective sector1. Apart from the above they are awarded numerous other awards that consist of The US National Mining Association’s Sentinels of Safety Award, American Exploration and The Mining Association’s (AEMA) Environmental Excellence Award for cleanup of the Holden Mine site, The Indonesian Government’s “Caring Company Forest Reclamation” award for rehabilitation1. Annual Report 2015 of Rio Tinto discloses Sustainability Report
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In 2015, it spent $184 million on community contribution programs covering a range of health, education, protection, housing, environment and agriculture4. As large proportion for products is exported, it requires access to transport facilities that ultimately leads to transportation growth. Recent increase in investment has given rise to the demand for mining workers. In 2016, it will report economic capacity built from local employment and procurement to deal with any community complaints. In the period to 2030, 470 million people are expected to urbanise over same period particularly in Asia. Apparently GDP growth expected to average 5-6 % p.a over next 15
In 2015, it spent $184 million on community contribution programs covering a range of health, education, protection, housing, environment and agriculture4. As large proportion for products is exported, it requires access to transport facilities that ultimately leads to transportation growth. Recent increase in investment has given rise to the demand for mining workers. In 2016, it will report economic capacity built from local employment and procurement to deal with any community complaints. In the period to 2030, 470 million people are expected to urbanise over same period particularly in Asia. Apparently GDP growth expected to average 5-6 % p.a over next 15