Novelis Accelerates Sustainability Goals with 3x30 Initiative
Company Sets Ambitious Targets to Further Increase Recycled Content, Reduce Carbon Emissions and Lead the Industry to Circularity
"Novelis 3x30 is our roadmap to going further, faster in our efforts to decarbonize our products and increase the circularity of aluminum," said
Growing consumer preference for sustainable products is driving increased demand for lower-carbon solutions, including the adoption of aluminum in the automotive; beverage, food and cosmetics packaging; building and construction; and aerospace industries, among others. The company believes the 3x30 vision will enable the company to help its customers achieve their sustainability goals faster by focusing on three objectives to reach by the end of 2030:
1. Pushing the boundaries on recycled content in its products by increasing its average recycled content to 75%, from today's 63%.
2. Becoming the lowest-emissions, flat-rolled products aluminum provider at less than 3 tonnes of CO2e per tonne of flat rolled product (FRP) shipped.
3. Continuing first-mover investments to lead the industry to circularity.
Novelis 3x30 builds on the company's previous sustainability achievements, including a 10 percentage points increase in its average recycled content and 27% reduction in carbon emissions in fiscal year (FY) 2024 from its FY16 baseline. The achievements have pushed Novelis to the industry forefront with an average recycled content of 63%.
"We've made tremendous progress toward creating a more circular economy for aluminum," said
Forward-Looking Statements
Statements made in this news release which describe Novelis' intentions, expectations, beliefs or predictions may be forward-looking statements within the meaning of securities laws. Forward-looking statements include statements preceded by, followed by, or including the words "believes," "expects," "anticipates," "plans," "estimates," "projects," "forecasts," or similar expressions. Examples of forward-looking statements in this news release include Novelis' expectations to meet certain recycling and environmental targets and that aluminum will be increasingly adopted by manufacturers in response to consumer preferences. Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty, and Novelis' actual results could differ materially from those expressed or implied in such statements. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. The above list of factors is not exhaustive. Other important factors are discussed under the captions "Risk Factors" and "Management's Discussion and Analysis" in our Annual Report on Form 10-K for the fiscal year ended
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