On Saturday, December 2, Norsk Hydro and Volvo Group announced from the COP28 platform that they entered a strategic partnership to support each other’s journey towards zero emission value chains. They signed the partnership agreement under the World Economic Forum’s First Movers Coalition.
Hydro said it would be all out to enable Volvo Group to achieve its ambitious net zero vehicles target by 2040 by supplying primary aluminium with an 80 per cent reduced carbon footprint than today’s global industry average.
In addition, Hydro and Volvo’s partnership will work on defining a roadmap towards supplying near zero aluminium ahead of 2030, validating new recycling standards for alloys to optimise material reuse, and developing Hydro’s mining operations in Brazil by emulating Volvo’s innovative transport solutions to reduce carbon intensity in the aluminium value chain.
U.S. Special Presidential Envoy for the Climate John Kerry, said: “Partnership is the new leadership. I am delighted to see two of our First Movers Coalition partners joining forces, utilizing the power of procurement to spearhead the shift towards green aluminium and accelerate the demand for net zero technologies.”
Volvo Group president and CEO Martin Lundstedt said: “We are committed towards our leading target to achieve a net zero value chain by 2040. Access to low-carbon aluminum is another step forward. We truly believe that it is only by moving forward together, through a joint collaboration we have agreed here with Hydro, that we can make a positive impact on our climate.”
Hydro President and CEO Hilde Merete Aasheim said Hydro is committed to transforming the entire value chain to ‘Green Aluminium’ and helping customers create decarbonised end-products. According to her, learning from each other is imperative to growth. Therefore, Hydro will explore Volvo’s innovative solutions and try implementing them to reduce carbon emissions in the value chain.
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