Novelis’ commitment to sustainability goals at center of second Green Bond report

Atlanta-based aluminum manufacturer and recycler Novelis Inc. has issued its second Green Bond report, highlighting the company’s sustainability-focused investments funded by a Green Bond.

In the report, Novelis shares news of its investments and how they enhance the company’s ability to deliver sustainable solutions and meet its goals for carbon emissions reductions.

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In March 2021, the company says it successfully completed issuance of a 500-million-euro Green Bond to finance projects that will help it meet its stated goals of reducing its carbon footprint by 30 percent by 2026 and being carbon neutral by 2050 or sooner.

As of March 31 of this year, Novelis says it has allocated $280 million of the net proceeds of this issuance to finance new or existing projects to increase aluminum recycling capacity and reduce primary aluminum use, with efforts focused on countries including the U.S., Brazil, South Korea, the United Kingdom and Germany. In total, the company says it expects the Green Bond investments to reduce carbon emissions by more than 3 million tons annually once they are all fully operational.

“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,” Novelis President ant CEO Steve Fisher says. “Innovation is the driving force behind change as Novelis and our customers work together to create a more circular economy for aluminum.”

The company’s Green Bond report features a number of project:

• new and expanded recycling centers that will provide low carbon aluminum;
• construction of the $365 million automotive recycling center in Guthrie, Kentucky;
• construction of a new recycling plant in Bay Minette, Alabama, which is expected to increase the number of used beverage cans (UBCs) the company recycles per year by 15 billion; and
• the investment of $1.2 million to install nearly 1,000 photovoltaic solar panels across 14 UBC collection centers in Brazil, which are expected to reduce carbon emissions by 230 tons per year and can generate 600 Megawatt hours per year of clean energy and make collection centers self-sufficient for energy.

Novelis says the projects highlighted in the report demonstrate its commitment to driving innovation, creating a circular economy for aluminum and building a more sustainable future.