Novelis' third Green Bond Report underpins its achievements in carbon reduction & sustainable innovation

Novelis Inc., a global leader in sustainable aluminium solutions and the foremost authority in aluminium rolling and recycling, is pleased to announce the successful fulfilment of its Green Bond financial commitments. This milestone highlights Novelis' unwavering commitment to sustainability, supported by substantial investments in environmentally-friendly projects.

In its third Green Bond Report, Novelis outlines how these investments are fostering innovation and driving progress toward the company's objectives of reducing carbon emissions, energy consumption, water usage, and landfill waste. The projects featured in the Novelis Green Bond Report showcase the company's dedication to fostering innovation, advancing a circular economy for aluminium, and contributing to a more sustainable future.

"Although we've met the spend commitment of our Green Bond, our commitment to sustainability is never ending. We are aiming for a carbon-neutral future for aluminium – built on a global, circular economy – and every day we innovate and collaborate with our customers to move us closer to that future,” said Steve Fisher, president & chief executive officer, Novelis.

In its final Green Bond Report, Novelis confirms that the entire net proceeds of $588 million from the issuance of €500 million in 3.375 per cent Senior Notes, due April 15, 2029, have been fully allocated to finance new or existing Renewable Energy and Pollution Prevention & Control projects. These investments were made over the 36-month period preceding the issuance, ending on September 30, 2023.

Some of the featured projects on the Novelis Green Bond Report are:

• Novelis has completed a $2.4 million solar installation at its production facility in Pieve, Italy. This initiative is projected to reduce carbon emissions by 1,450 tonnes each year. The solar system is estimated to generate around 4,000 MWh annually, meeting approximately 12 per cent of the plant's total electricity needs.
• The Alunorf plant in Neuss, Germany, a joint venture between Novelis and Speira, has successfully commissioned its third recycling furnace. This addition boosts the plant's recycling capacity by over 50,000 tonnes annually, potentially reducing carbon emissions by up to 415,000 tonnes yearly.
• Novelis is making progress on the construction of a new state-of-the-art recycling plant in Bay Minette, Alabama. Once completed, this facility will likely boost the company's annual recycling capacity by 15 billion used beverage cans (UBCs).