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Business News/ News / India/  Hindalco backs aluminium industry's new greenhouse-gas initiative
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Hindalco backs aluminium industry's new greenhouse-gas initiative

The initiative was launched at COP28, with 13 signatories committing to transparently and publicly tracking GHG reductions of all its member companies.

Satish Pai (centre), managing director of Hindalco Industries and chair of the International Aluminium Institute (IAI), with dignitaries at the launch of the GHG initiativePremium
Satish Pai (centre), managing director of Hindalco Industries and chair of the International Aluminium Institute (IAI), with dignitaries at the launch of the GHG initiative

Hindalco Industries, an aluminium manufacturer, has decided to back the new greenhouse gas (GHG) initiative of the International Aluminium Institute (IAI) and urged others to join it. The initiative was launched at the United Nations' Climate Change Conference (COP28), with 13 signatories committing to transparently and publicly tracking GHG reductions of all its member companies.

“We gladly welcome the initiative to be transparent on GHGs. Because of its infinite recyclability, aluminium is ideal for circularity. The carbon footprint of recycled metal is just 5% of primary smelting. Our subsidiary Novelis uses recycled metal for 61% of its aluminium usage – over 2.3 million tons in the last fiscal year," said Satish Pai, managing director, Hindalco Industries, and chair, International Aluminium Institute. 

“To reduce the emissions drastically, I think it's clear that governments will have a role to play in policymaking and regulation. Stakeholders and NGOs will be pushing for quicker action, but I think that it's companies like the ones listed here (IAI members) and cement and steel companies, that ultimately have to make the practical decisions to get decarbonisation going."

The new initiative not only plans to track and report ambitions and progress in GHG emission reductions of member companies but also to report the total GHG emissions of the aluminium industry annually.

It will facilitate action through three components: stating a long-term GHG emissions reduction target by 31 December 2024 (preferably net-zero by 2050) and a plan to achieve that target; identifying an interim GHG emissions reduction milestone (ideally by 2030), and disclosing progress annually.

Earlier this year, IAI announced the launch of Aluminium Forward 2030, a coalition of IAI's 25 production members and 20 downstream and customer companies. The aim is to accelerate progress towards the global net-zero target through close collaboration, while ensuring that actions also consider all the other UN Sustainable Development Goals.

“To reduce emissions, we are advancing innovative clean-energy solutions in primary smelting – such as renewable hybrid power with pumped hydro storage. Among the first in the aluminium sector, this project is on course to deliver round-the-clock, carbon-free power to our smelters, starting with 100MW. Our emissions initiatives are a key aspect of our broader sustainability vision, which also includes audacious targets on reducing water and waste and protecting communities and biodiversity," Pai added.

Signatories include Aluminerie Alouette, Aluminium Bahrain (Alba), Alcoa Corporation, Alumina Limited, Companhia Brasileira de Alumínio (CBA), Emirates Global Aluminium (EGA), Hindalco Industries Limited, Norsk Hydro, Mitsubishi Corporation, Rio Tinto Aluminium, Rusal, Sohar Aluminium and South32.

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Published: 07 Dec 2023, 06:08 PM IST
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