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Mining behemoth Rio Tinto announced a new partnership with China Baowu Steel Group, which is China's largest steel producer, and Tsinghua University on making production more climate-friendly.

Driving the news: Rio Tinto said Wednesday that the parties will work together on "identifying a pathway to support the goal of reducing carbon emissions across the entire steel value chain."

Why it matters: The company, citing World Steel Association data, said the entirety of steel development is responsible for 7%–9% of global CO2 emissions.

  • Let's see what actually comes out of it, but overall, it's a sign of efforts to address industrial emissions, which get less attention than power plants and cars and are often tricky to tackle.

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