Novelis Demonstrates Progress Toward Goals in Fiscal Year 2024 Sustainability Report
Report highlights company's 27% absolute CO2 emissions and 28% carbon intensity reduction from its FY2016 baseline and 63% recycled content average
Novelis achieved a 27% reduction in absolute carbon emissions from its FY2016 baseline in FY2024 (includes scopes 1, 2 & 3). The company also achieved an average of 63% recycled content in its aluminum rolled product in FY2024, recycling more than 2,300 kt of aluminum, including 82 billion used beverage cans. The company believes these achievements place Novelis at the forefront of the aluminum recycling industry.
"I am incredibly proud of the FY24 results and our progress toward our goal of becoming carbon neutral by 2050," said
In addition to the accomplishments in absolute carbon reduction and average recycled content, the report highlights other achievements, including:
- Decreasing carbon emissions intensity by 28% from the FY2016 baseline
- Reducing waste-to-landfill intensity by 8.8% from the FY2020 baseline
- Donating
$8.7 million to charitable causes - Completing the allocation of
$588 million in green bond funds - Completing three, large-scale solar energy investments
To accelerate its sustainability efforts, the company recently announced Novelis 3x30, a company-wide vision to advance aluminum as the material of choice for circular solutions and accelerate the company's decarbonization and circularity efforts. Under 3x30, Novelis aims to achieve three ambitious objectives by the end of 2030:
- Achieve 75% average recycled content in our products;
- Be the lowest-emissions, flat-rolled aluminum products provider at less than 3 tonnes of CO2e per tonne of flat rolled product (FRP) shipped; and
- Continue to lead the industry toward circularity through first-mover investments.
For more information about sustainability at Novelis, visit www.Novelis.com/sustainability.
Learn more about Novelis 3x30 by visiting www.novelis.com/novelis-3x30/.
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. 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
About Novelis
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