Novelis releases its fiscal year 2023 sustainability report, Scaling Circularity

In a remarkable display of commitment to sustainability, Novelis Inc., a global leader in aluminium rolling and recycling, has unveiled its fiscal year 2023 sustainability report, showcasing substantial progress towards its ambitious sustainability objectives. The report, which encompasses a wide range of environmental, social, and community engagement metrics, underscores the company's unwavering dedication to shaping a more sustainable world.

One of the standout achievements highlighted in the report is Novelis' significant reduction in absolute carbon dioxide (CO2) emissions. With a target to slash emissions by 30 per cent from its FY2016 baseline by 2026, the company managed to achieve a remarkable 14 per cent reduction in FY23, encompassing scopes 1, 2, and 3 emissions. (Scope 1 emissions refer to the direct emissions that a company owns or controls. Scope 2 and 3 emissions are considered indirect emissions, stemming from the company's activities but originating neither from sources that are owned nor under its control)

Novelis attributes this reduction to its comprehensive sustainability strategy, which prioritises incorporating recycled aluminium into its products to minimise carbon footprint. In the 2023 fiscal year, the company achieved an impressive 61 per cent recycled content across its product lines worldwide, reflecting its commitment to circularity and environmental stewardship. Novelis recycled an astounding 2.3 million tonnes of aluminium during this period, including over 82 billion used beverage cans.

Steve Fisher, President and CEO of Novelis Inc., expressed his pride in these accomplishments, stating, “I am very proud of our achievements this year, particularly our emissions reduction and recycled content numbers. We believe that maximising aluminium's circularity is the most effective way to decarbonise, and Novelis is leading the industry on that front by expanding closed-loop recycling partnerships with customers, investing in additional recycling capacity, and creating new alloys and processing methods to increase our use of recycled metal inputs. The success of these and other recycling initiatives help ensure we continue to deliver on our Purpose of Shaping a Sustainable World Together.”

The sustainability report also highlighted several other notable accomplishments, including

• 17 per cent decrease in carbon emissions intensity from the FY2016 baseline
• 10 per cent reduction in waste-to-landfill intensity from the FY2020 baseline
• Charitable donations totalling $7.5 million

Moreover, Novelis announced its strategic partnership with FIRST® (For Inspiration and Recognition of Science and Technology), a non-profit organisation dedicated to introducing students from pre-kindergarten through 12th grade to engineering, coding, and robotics, demonstrating the company's commitment to fostering innovation and education.

Novelis' decarbonisation strategy is structured around five key levers, each designed to reduce emissions and enhance sustainability:

Lever 1: Decarbonising the melting process and energy sources

This lever focuses on Scope 1 and Scope 2 GHG emissions reduction, with initiatives such as the Net Zero Lab Valais in Switzerland. Novelis aims to significantly reduce its carbon footprint through investments in renewable electricity-powered equipment.

Lever 2: Maximising circularity (increasing recycled content)

The company recognises the critical role of circularity in decarbonising the aluminium industry. Novelis collaborates with partners to promote a low-carbon and circular economy across its value chain.

Lever 3: Innovating new high-recycled-content alloys

Novelis is at the forefront of aluminium recycling, achieving an impressive average recycled content of 61 per cent in its products in FY23. The company works closely with customers to develop high-recycled-content alloys that meet technical specifications.

Lever 4: Increasing recycling capacities and capabilities

Through investments in recycling capacity, Novelis reduces its reliance on primary aluminium, further contributing to circularity and sustainability. The company has committed substantial resources to recycling initiatives.

Lever 5: Supporting decarbonisation of primary aluminium

While Novelis prioritises recycled content, it also explores the use of low-carbon primary aluminium. This endeavour aligns with the industry's need to transition away from high-carbon energy sources to decarbonise the smelting process.

Novelis' ongoing commitment to sustainability serves as an inspiring example of corporate responsibility and environmental stewardship, showing that industry leaders can play a key role in shaping a more sustainable and environmentally conscious world.

If you want to know more about the best sustainability practices across the world, read this AL Circle e-magazine.