Those invested in Rio Tinto Limited (ASX: RIO) shares can celebrate after the company announced its made having a cold one more environmentally friendly.
Beer cans made using aluminium produced by Rio Tinto and leveraging ELYSIS technology have hit shelves in Canada. The cans can boast 30% fewer carbon emissions than those made using traditional manufacturing techniques in North America.
At the time of writing, the Rio Tinto share price is $105.11, 1.05% lower than its previous close.
For context, the broader market is also struggling on Thursday. The S&P/ASX 200 Index (ASX: XJO) is down 0.62% right now while the All Ordinaries Index (ASX: XAO) has slipped 0.62%.
Let's take a closer look at the latest renewables-related news from the resources giant.
Low emissions aluminium cans hit shelves
Own Rio Tinto shares? The company's partnership with Corona Canada has borne a pilot low carbon beverage can.
Aluminium made using ELYSIS technology has been shaped into 1.2 million cans and filled with Corona beer.
ELYSIS technology can remove all direct greenhouse gas emissions from the aluminium smelting process, emitting oxygen as a by-product. The tech was produced through a partnership between aluminium giants Rio Tinto and Alcoa.
Rio Tinto notes around 70% of aluminium used to produce cans in North America is already made with recycled aluminium. Pairing such recycled metal with Rio Tinto aluminium – made with renewable hydropower – and metal produced using ELYSIS technology reduces carbon emissions by more than 30%.
The limited release drinks cans can be purchased in Canada. Shoppers can also scan a QR code on the can to trace how the product was made.
Rio Tinto plans to utilise its START initiative to allow customers insight into the mine-to-market creation of more beverage cans in the future.
The successful pilot follows a memorandum of understanding signed between Rio Tinto and Corona Canada's parent company AB InBev in 2020.
Rio Tinto share price snapshot
Despite today's dip, the Rio Tinto share price is outperforming the broader market in 2022.
It has gained 5% year to date. Meanwhile, the ASX 200 has slipped 12.5%.
Though, the resource giant's stock has slumped 17% over the last 12 months. The ASX 200 has only dipped 9% in that time.
