Novelis, a provider of sustainable aluminium solutions, has reported a 27% reduction in absolute carbon emissions in financial year 2024 (FY24), from its 2016 baseline.
This figure, encompassing scope 1, 2, and 3 emissions, was revealed in the company’s sustainability report for 2024.
Go deeper with GlobalData
The report measures Novelis’ strides towards its environmental objectives in various metrics, as well as its diversity and inclusion initiatives, employee safety and community engagement efforts.
For its rolled aluminium products, the company claimed it reached an average of 63% recycled content during FY24.
In the same period, Novelis recycled more than 2,300 kilotonnes of aluminium, which encompassed the recycling of 82 billion used beverage cans.
Alongside its reduction in absolute carbon emissions, the company noted a 28% decrease in carbon emissions intensity compared to the FY16 baseline.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataFurther environmental achievements for Novelis include an 8.8% reduction in waste-to-landfill intensity from the FY20 baseline.
The company also completed three significant solar energy investments over the period.
Last month, Novelis launched its ‘3×30’ vision, which aims to position aluminium as the preferred material for circular solutions while expediting the company’s decarbonisation and circularity efforts.
As part of this vision, the company aims to achieve an average of 75% recycled content in its products by the end of 2030.
Novelis president and CEO Steve Fisher said: “I am incredibly proud of the FY24 results and our progress toward our goal of becoming carbon neutral by 2050.
“The progress we have achieved is the result of innovative approaches and technologies, strong relationships with our customers, and the brilliant and inspiring work of our employees. Every day, we make tremendous efforts toward delivering on our Purpose of Shaping a Sustainable World Together.”
