Novelis Inc. has issued its sustainability report for the 2024 fiscal year (April 1, 2023, to March 31, 2024). The report features the company’s progress toward its sustainability goals, which include key environmental metrics, employee safety, diversity and inclusion, and community engagement. Novelis achieved a 27% reduction in absolute carbon emissions from its FY2016 baseline in FY2024 (includes scopes 1, 2 & 3).
Novelis also achieved an average of 63% recycled content in its aluminum rolled product in FY2024, recycling more than 2,300 kt of aluminum, including 82 billion used beverage cans mentioned in its sustainability report. The company believes these achievements place Novelis at the forefront of the aluminum recycling industry.
“I am incredibly proud of the FY24 results and our progress toward our goal of becoming carbon neutral by 2050. The progress we have achieved is the result of innovative approaches and technologies, strong relationships with our customers, and the brilliant and inspiring work of our employees. Every day, we make tremendous efforts toward delivering on our Purpose of Shaping a Sustainable World Together.”
Steve Fisher, President and Chief Executive Officer, Novelis Inc
In addition to the accomplishments in absolute carbon reduction and average recycled content, the report highlights other achievements, including:
- Decreasing carbon emissions intensity by 28% from the FY2016 baseline
- Reducing waste-to-landfill intensity by 8.8% from the FY2020 baseline
- Donating $8.7 million to charitable causes
- Completing the allocation of $588 million in green bond funds
- Completing three, large-scale solar energy investments
To accelerate its sustainability efforts, the company recently announced Novelis 3×30, a company-wide vision to advance aluminum as the material of choice for circular solutions and accelerate the company’s decarbonization and circularity efforts. Under 3×30, Novelis aims to achieve three ambitious objectives by the end of 2030:
- Achieve 75% average recycled content in our products
- Be the lowest-emissions, flat-rolled aluminum products provider at less than 3 tonnes of CO2e per tonne of flat-rolled product (FRP) shipped.
- Continue to lead the industry toward circularity through first-mover investments.