Novelis Inc., a global leader in sustainable aluminum solutions and a leading authority in aluminum rolling and recycling, is pleased to announce the successful fulfillment of its Green Bond financial commitments. This milestone underscores Novelis’ relentless commitment to sustainability, supported by significant investments in environmentally friendly projects.
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In its third Green Bond Report, Novelis describes how these investments are driving innovation and making progress toward the company’s goals to reduce carbon emissions, energy consumption, water use and landfill waste. The projects featured in the Novelis Green Bond Report demonstrate the company’s commitment to driving innovation, advancing a circular economy for aluminum and contributing to a more sustainable future.
“Although we have met our Green Bond issuance commitment, our commitment to sustainability never ends. We strive for a carbon-neutral future for aluminum – based on a global circular economy – and every day we innovate and partner with our customers to move closer to that future,” said Steve Fisher, President and CEO of Novelis.
In its final Green Bond Report, Novelis confirms that the entire net proceeds of US$588 million from the issuance of €500 million in 3.375 percent senior notes due April 15, 2029 were used entirely to finance new or existing renewable energy and pollution prevention and control projects. These investments were made in the 36 months prior to the issuance, which ended September 30, 2023.
Some of the projects featured in the Novelis Green Bond Report include:
- Novelis has completed a $2.4 million solar plant at its manufacturing facility in Pieve, Italy. The initiative is expected to reduce carbon dioxide emissions by 1,450 tons per year. The solar plant is expected to generate around 4,000 MWh annually, covering about 12 percent of the plant’s total electricity needs.
- The Alunorf plant in Neuss, a joint venture between Novelis and Speira, has successfully commissioned its third recycling furnace. This addition increases the plant’s recycling capacity by over 50,000 tonnes per year and potentially reduces CO2 emissions by up to 415,000 tonnes per year.
- Novelis is making progress on construction of a new state-of-the-art recycling facility in Bay Minette, Alabama. Once completed, the facility is expected to increase the company’s annual recycling capacity by 15 billion used beverage cans (UBCs).
