International Aluminium Institute Takes Bold Step in Greenhouse Gas Reduction Initiative

Major Players Unite at COP 28 to Track and Disclose Ambition and Progress

The International Aluminium Institute (IAI) has unveiled a groundbreaking initiative at the United Nations’ Climate Change Conference (COP 28) in Dubai, committing its member companies to transparently and publicly track progress in reducing greenhouse gas emissions. Major players in the aluminium industry, including Alcoa Corporation, Rio Tinto Aluminium, and Emirates Global Aluminium, have already pledged their support.

Under the initiative, IAI will annually report the global greenhouse gas emissions of the entire aluminium industry while tracking and disclosing member companies’ emission reduction ambitions and progress. The initiative encourages three crucial components for emissions reduction: setting a long-term net-zero target by 2050, establishing an interim milestone by 2030, and disclosing progress annually through specified calculation references.

Hindalco Industries’ Managing Director and IAI Chair, Satish Pai, expressed enthusiasm for the transparency initiative, highlighting Hindalco’s leadership in sustainable metal manufacturing and innovative clean energy solutions. The initiative aligns with Hindalco’s commitment to circularity, emphasizing the recyclability of aluminium.

IAI Secretary General Miles Prosser emphasized the industry’s dedication to rapidly reducing greenhouse gas emissions, acknowledging the need for investment and collective action to achieve global goals. The initiative aims to drive ambition and action throughout aluminium supply chains to effectively decarbonize the industry.

Hindalco’s groundbreaking renewable energy project earned them the Energy Transition Change Maker award at COP28, marking the world’s first renewable hybrid endeavor supported by pumped hydro storage in the aluminium sector. Earlier this year, Hindalco announced Aluminium Forward 2030, a coalition of IAI’s production members and downstream companies, working collaboratively to accelerate progress towards the global net-zero target.

In March 2021, IAI published a report outlining technology pathways to emission reductions in line with the Paris Agreement goals. At COP26, the institute presented an additional decarbonization scenario aligned with limiting global warming to 1.5 degrees Celsius, showcasing the industry’s commitment to sustainability.

The IAI’s latest initiative seeks to foster ambition and transparency in the aluminium sector, contributing to global climate targets and complementing ongoing sustainability efforts by the institute.