Novelis’ second Green Bond Report outlines its efforts to meet sustainability goals

Novelis, a global supplier of sustainable aluminium solutions and the world leader in aluminium rolling and recycling has released its second Green Bond report. This report details the business's sustainability-focused initiatives, supported by a Green Bond issued by the corporation two years ago last month.

The paper demonstrates Novelis' capabilities to create sustainable solutions while discussing its efforts to meet its carbon reduction targets. US$280 million of the Green Bond finance has already been granted to projects to boost aluminium recycling capacity and decrease primary aluminium usage. So far, most funds have gone to initiatives in the United States, Brazil, the Republic of Korea, the United Kingdom, and Germany.

The report is where Novelis reveals information about its investments and explains how these investments improve the company's capacity to provide innovative and environmentally friendly products and accomplish its targets for lowering its carbon emissions.

Some of the featured projects mentioned in the Novelis Green Bond Report are:

• New and enlarged recycling centres with low carbon aluminium facility
• Construction of the Automotive Recycling Centre, estimated to cost 365 million dollars, is now underway in Guthrie, Kentucky.
• The expenditure of $1.2 million so that approximately a thousand photovoltaic solar panels may be installed at 14 different UBC collecting centres throughout Brazil.

It is anticipated that the panels will save carbon emissions by 230 tonnes per year and that they will be able to create 600 MWh of renewable energy per year. This will allow collecting centres to become energy independent.

"These projects demonstrate that Novelis is successfully carrying out its purpose of 'Shaping a Sustainable World Together' by funding investments that significantly lower the carbon emissions of our manufacturing operations and enable us to continue to increase the recycled content of our products, which are already at industry-leading levels. Innovation is the driving force behind change as Novelis and our customers work together to create a more circular economy for aluminium," said Steve Fisher, President & Chief Executive Officer of Novelis Inc.

Novelis successfully executed the issue of a green bond in the amount of 500 million EURO in March 2021. The purpose of the bond was to fund initiatives that would assist the firm in meeting its stated objectives of decreasing its carbon footprint by 30 per cent by 2026 and being carbon neutral by 2050 or sooner.