Novelis reduces carbon emissions by 27% in FY24

USA – Novelis, a leader in sustainable aluminium solutions, has announced a 27% reduction in absolute carbon emissions for the fiscal year 2024 (FY24) compared to its 2016 baseline.

This achievement, covering scope 1, 2, and 3 emissions, was highlighted in the company’s 2024 sustainability report.

The report tracks Novelis’ environmental progress and highlights strides in diversity and inclusion, employee safety, and community engagement.

In FY24, the company’s rolled aluminium products contained an average of 63% recycled content, contributing to a more sustainable production process.

Novelis also recycled over 2,300 kilotonnes of aluminium, including 82 billion used beverage cans.

In addition to reducing absolute carbon emissions, Novelis achieved a 28% decrease in carbon emissions intensity compared to its FY16 baseline.

The company also reduced waste-to-landfill intensity by 8.8% from its FY20 baseline, further reinforcing its commitment to sustainability.

During FY24, Novelis completed three major solar energy investments, boosting its renewable energy use.

The company also launched its ambitious ‘3×30’ vision, which aims to position aluminium as the leading material for circular solutions while accelerating its decarbonization and circularity efforts.

The initiative sets ambitious targets to be achieved by 2030, including increasing the average recycled content in products to 75%, up from the current 63%.

Novelis’ president and CEO, Steve Fisher, expressed pride in the company’s progress.

“The FY24 results are a testament to our innovative approaches, customer partnerships, and the dedication of our employees. We are making significant strides toward becoming carbon neutral by 2050,” Fisher said.

The company also aims to be the industry’s lowest-emission provider of flat-rolled aluminium, targeting less than three tonnes of CO2 equivalent per tonne of product shipped.

By continuing its first-mover investments, Novelis is positioned to lead the aluminium industry towards a more circular and sustainable future.

These achievements build on past successes, including a 10% increase in recycled content and a 27% reduction in carbon emissions since 2016.

Last year, the company incorporated 61% recycled aluminium across its production lines for the fiscal year ending March 31, 2023.

The company says the achievement marks the highest percentage of recycled content in the aluminium flat-rolled products industry, strengthening its position as a leader in aluminium recycling and decarbonization.

The company recycled approximately 2.3 million metric tonnes of aluminium, including over 82 billion used beverage cans in 2022.

These numbers have grown due to innovation and partnerships to increase circularity. Novelis says it is investing “heavily” to grow its recycling capacity, with nearly US$2 billion of completed and announced investments since 2011.

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