Rio Tinto warns Australia’s slow renewable energy rollout threatens fossil fuel phase out

Rio Tinto’s chairman, Simon Thompson, says rapid development of renewable energy is crucial to the company phasing out fossil fuel. Photograph: Joel Carrett/AAP

Australia needs to accelerate the rollout of renewable energy, the chief executive of the country’s second-biggest mining company, Rio Tinto, has said.

“We’re just not developing renewable energy fast enough,” Jakob Stausholm said, speaking after Rio’s annual shareholder meeting in Melbourne.