Novelis achieves 63 percent recycled content in rolled aluminum according to 2024 sustainability report
The company reports recycling 82 billion used beverage cans, and a 27 percent reduction in carbon emissions since 2016
Novelis has issued its sustainability report for the 2024 fiscal year (April 1, 2023, to March 31, 2024). The report features the company's progress toward its sustainability goals, which include key environmental metrics, employee safety, diversity and inclusion, and community engagement.
Novelis achieved a 27 percent reduction in absolute carbon emissions from its 2016 baseline in 2024 (includes scopes 1, 2, and 3). The company also achieved an average of 63 percent recycled content in its aluminum rolled product in 2024, recycling more than 2,300 metric kilotons of aluminum, including 82 billion used beverage cans. This is up from 61 percent in 2023. The company believes these achievements place Novelis at the forefront of the aluminum recycling industry.
Steps toward carbon neutrality by 2050
"I am incredibly proud of the FY24 results and our progress toward our goal of becoming carbon neutral by 2050," says Steve Fisher, president and CEO of Novelis. "The progress we have achieved is the result of innovative approaches and technologies, strong relationships with our customers, and the brilliant and inspiring work of our employees. Every day, we make tremendous efforts toward delivering on our purpose of shaping a sustainable world together."
In addition to the accomplishments in absolute carbon reduction and average recycled content, the report highlights other achievements, including:
- Decreasing carbon emissions intensity by 28 percent from the 2016 baseline
- Reducing waste-to-landfill intensity by 8.8 percent from the 2020 baseline
- Donating $8.7 million to charitable causes
- Completing the allocation of $588 million in green bond funds
- Completing three large-scale solar energy investments
To accelerate its sustainability efforts, the company recently announced Novelis 3x30, a company-wide vision to advance aluminum as the material of choice for circular solutions and accelerate the company's decarbonization and circularity efforts.
Under 3x30, Novelis aims to achieve three ambitious objectives by the end of 2030:
- Achieve 75 percent average recycled content in our products.
- Be the lowest-emissions, flat-rolled aluminum products provider at less than three tons of carbon dioxide-emissions per metric ton of flat rolled product (FRP) shipped.
- Continue to lead the industry toward circularity through first-mover investments.
