GHG Emissions, Solar, Sourcing Renewables - August 5, 2024
Alcoa Boosts RE Use to 87%
Alcoa Corporation announced 87% of electricity that is powering its smelters came from renewable sources.
The aluminum mining company surpassed its goal to source 85% of its electricity for its global smelting portfolio from renewable sources by 2025.
Alcoa also announced a 2.2% decrease in CO2e emissions year-over-year.
In 2023, Alcoa paid environmental penalties and fines totaling approximately $300,500. The grounds for these charges include past regulatory settlements, unauthorized disposal of bauxite residue and waste alumina in an area fit for purpose but not authorized for use, for submission of a late report and for failing to submit an annual emissions report (CY2021) for an Alcoa subsidiary. All violations were self-identified and disclosed to regulatory agencies.
The company has a goal to achieve net zero GHG emissions across its smelter and refinery operations by 2050 for direct (Scope 1) and indirect (Scope 2) emissions with interim targets to achieve a 30% reduction by 2025 and a 50% reduction by 2030 using a 2015 baseline (intensity basis).
Alcoa develops products that are designed to improve performance and minimize environmental impact. Its alumina refinery products have lower emission intensities and aluminum with at least 50% post-consumer recycled content, and its Sustana™ product line offers primary aluminum with a lower carbon footprint.
The company earned ASI certifications, which provide independent assurance that its bauxite, alumina and aluminum products meet globally recognized sustainability standards.
Alcoa is nearing the completion of a five-year portfolio review announced in October 2019. This review includes assessing opportunities for improvement, potential curtailments, closures and divestitures. Through the review process the company also achieved reductions in its carbon emission intensity. Alcoa curtailed the Intalco aluminum smelter in 2020 and, after evaluating several options for the asset, announced its full closure in 2023. Due to the closure, Alcoa removed over 1.9 million metric tons of direct and indirect CO2e from its GHG inventory.
“Excellence in environmental, social and governance practices and performance, particularly safety, goes hand-in-hand with operational excellence,” said Alcoa President and CEO William F. Oplinger in his letter to stakeholders. “We have ambition for this company – to expect excellence in everything we do, including our relentless focus on safety and our efforts toward achieving our sustainability targets.”
Details were provided in the company's 2023 Sustainability Report.
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