Pittsburgh — Novelis is furthering its sustainability commitment and will become a net carbon-neutral company by 2050 or sooner, and reduce its carbon footprint 30% by 2026, the aluminum roller and recycler said April 6.
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"Our ambition is to be the world's leading provider of low-carbon, sustainable aluminum solutions that advance our business, industry and society toward the benefits of a circular economy," CEO Steve Fisher said in a statement. "As the world's largest recycler of aluminum, sustainability has been paramount to our business and these new commitments will further ensure the health and well-being of the environment, the safety of our people, and the long-term success of the communities in which we live and work."
Along with its commitment of net carbon-neutrality by 2050 and the 30% reduction in CO2 by 2026, Novelis has also committed to a 20% reduction in waste to landfills by 2026, a 10% reduction in energy intensity by 2026, and a 10% reduction in water consumption by 2026, it said.
The company will continue increasing the use of recycled content in its products and engaging with customers, suppliers, and industry peers across the value chain to drive innovation that improves aluminum's overall sustainability, Novelis said.
S&P Global Platts launched two new low-carbon assessments — the Low-Carbon Aluminum Price and Zero-Carbon Aluminum Price — as part of its European aluminum coverage April 6. LCAP includes metal originating from a smelter with Scope 1 and 2 emissions below 4tCO²/tAl. ZCAP leverages Platts' existing carbon credit offering by using the daily assessed CORSIA (carbon offsetting and reduction) price to illustrate the cost of fully carbon offset aluminum. LCAP and ZCAP are assessed daily for duty-paid and duty-unpaid aluminum.