The International Aluminum Institute (IAI) has launched an initiative to track progress in reducing greenhouse gas emissions among its member companies, IAI announced this week.
The initiative was announced at Cop 28, a UN conference on Climate Change, which takes place in Dubai from November 30 to December 12. It has the support of its signatories, including aluminum producers Alcoa, Hydro, Aluminum Bahrain, Emirates Global Aluminum, Rio Tinto, Rusal, Hindalco Industries and South32.
As part of this initiative, IAI will monitor and report on “ ambitions and progress of its member companies in reducing greenhouse gas emissions" and publicly report the aluminum industry's total global greenhouse gas emissions each year.
By the end of next year, IAI will set a long-term emissions reduction target for the industry , which would likely be net zero emissions by 2050, but would also include a 2030 benchmark and outline a plan to achieve that goal through investment. in new equipment and technologies. It will disclose annual progress made toward these goals by all of its member institutions, using IAI's current transparency guidelines.
The new initiative will join the list of other IAI programs aimed at helping the aluminum industry meet global emissions reduction goals , including the Aluminum Sector's Greenhouse Gas Pathways to 2050 report from 2021 and the Aluminum Forward 2030 coalition announced earlier this year.
“The aluminum industry is committed to rapidly reducing greenhouse gas emissions gases and recognizes that investment and action are needed to achieve global goals,” IAI Secretary General Miles Prosser said in a statement. “IAI has consistently driven programs to promote collaboration and action on sustainable development, and this initiative will drive ambition and action to decarbonise aluminum supply chains.”
