Chinese aluminium giant Chinalco targets to reach carbon peak before 2025
Aluminium Corporation of China (Chinalco), the state-owned biggest aluminium producer, has announced that it aims to bring the group’s carbon emissions to a peak before 2025, in line with the country’s climate goals.
The aluminium giant has also targeted 2035 as its timeline to cut 40 per cent of carbon emissions, as said in an action plan released on Tuesday, June 8.
In 2020, China President Xi Jinping had pledged to achieve carbon peak before 2030 and become carbon neutral by 2060.
Aluminium production is the most-energy intensive process, and hence, the biggest contributor of carbon emissions in the nonferrous sector. Last year, aluminium production alone accounted for 65 per cent of China’s total greenhouse gas emissions.
Ferrous metal producers, including top steel makers like China Baowu Steel Group and HBIS Group, also announced their carbon cut plans this year.
LME aluminium price gained US$20/t to settle at US$2459/t; SHFE price closed at US$24/t higher
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