Novelis Made Significant Progress Towards Sustainability Goals

Upon comparison with FY2016 baseline, the company achieved a 27% reduction in absolute carbon emissions in FY2024.

SEATTLE (Scrap Monster): Novelis published its fiscal year 2024 sustainability report. The business claimed making significant strides toward its sustainability objectives.

The corporation reduced its absolute carbon emissions in FY2024 by 27% as compared to the baseline for FY2016. It recycled almost 2,300 kt of aluminum, including 82 billion used beverage cans, and produced aluminum rolled product with an average recycled composition of 63%. 

ALSO READ: Novelis and TSR Reached Agreement to Promote Circularity in Aluminum Industry

Novelis reduced the intensity of carbon emissions from the FY2016 baseline by 28% and the intensity of waste-to-landfill from the FY2020 baseline by 8.8%. The business finished allocating $588 million in green bond funds and gave a total of about $8.7 million to charitable causes. According to a corporate news release, it also finished three significant solar energy initiatives.

By the conclusion of the current decade, the corporation hopes to accomplish three ambitious goals as part of its recently unveiled 3x30 sustainability agenda. As a result, Novelis wants its goods to have an average of 75% recycled content by the end of 2030. It aims to lead the industry toward circularity and become the lowest-emissions supplier of flat-rolled aluminum products.

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