Hindalco backs aluminium industry's new greenhouse-gas 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
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