GlobalData offers a comprehensive analysis of Novelis, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Novelis‘s ESG performance. GlobalData’s company profile on Novelis offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Novelis, a global leader in aluminum rolling and recycling, is committed to reduce its GHG emissions as part of its sustainability efforts. The company has set a goal to achieve a 30% reduction in absolute carbon emissions by 2026, compared to 2016 baseline. In 2023, the company witnessed a 17% decrease in emissions intensity compared to the 2016 baseline. Additionally, the company achieved a 13% reduction in emissions intensity compared to 2022. In terms of carbon emissions, Novelis reports its GHG emissions in three scopes. Scope 1 emissions amounted to 1,389,000 metric tons of CO2 equivalent (tCO2e). Scope 2 emissions, which includes purchased electricity and steam, were 866,000 tCO2e. The total emissions from Scope 1 and Scope 2 combined were 2,255,000 tCO2e. Additionally, the company also reports Scope 3 emissions, including purchased goods and services, which accounted for 14,529,000 tCO2e, and upstream transportation and distribution emissions, which amounted to 488,000 tCO2e.
To reduce its emissions, Novelis has implemented various steps to reduce its emissions. The company has already taken measures such as using smelter-specific data provided by CRU for smelting-casting emissions and applying country-specific emission factors for bauxite-alumina emissions. Novelis also uses the 100:0 method to calculate emissions from purchased metals. The company is actively collecting information on its use of market-based instruments for location-based Scope 2 emissions.
In terms of investments, Novelis has made significant efforts to reduce its emissions. The company has invested in renewable energy sources and energy-efficient technologies to minimize its carbon footprint. These investments align with its decarbonization strategy and contribute to its emission reduction goals.
In conclusion, Novelis is actively working towards reducing its GHG emissions and is taking steps to reduce emissions across all scopes and has made investments in renewable energy and energy-efficient technologies. By implementing these measures, Novelis aims to contribute to global efforts in combating climate change and creating a sustainable future.