On December 7, the International Aluminium Institute (IAI), a global body that represents the world's leading producers of aluminium, announced a new initiative aimed at tracking and reporting on its member companies' progress in reducing greenhouse gas emissions. This move is being launched at the United Nations Climate Change Conference (COP28) in Dubai.
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The initiative has already garnered support from major players in the aluminium industry, including Hindalco Industries Ltd, Aluminerie Alouette, Aluminium Bahrain (Alba), Alcoa Corporation, Mitsubishi Corporation and Rio Tinto Aluminium.
The IAI's new initiative is an important step towards reducing greenhouse gas emissions and promoting sustainability in the aluminium production industry. Under this initiative, the IAI has committed to publicly reporting on its member companies' progress in reducing greenhouse gas emissions, as well as tracking and reporting on the total global greenhouse gas emissions of the aluminium industry on an annual basis.
By tracking and reporting on greenhouse gas emissions, the IAI aims to increase transparency and accountability in the industry and encourage companies to take action to reduce their carbon footprint. This is essential if we are to meet the goals set out in the Paris Agreement, which aims to limit global warming to 1.5°C above pre-industrial levels.
The Managing Director of Hindalco Industries and Chairman of International Aluminium Institute, Satish Pai, exclaimed: "We gladly welcome the initiative to be transparent on GHGs. Hindalco has been a leader in sustainable metal manufacturing for years."
"Because of aluminium's infinite recyclability, Hindalco is also exploring greentech innovations, including energy storage technologies like aluminium air batteries and Li-ion batteries, and a pilot project to sequester CO2 through advanced mineralisation," Pai added.
The aluminium industry is a significant contributor to global greenhouse gas emissions, accounting for around 1% of global emissions. However, the sector has made significant progress in recent years, and the IAI's new initiative is a testament to the industry's commitment to reducing its environmental impact.
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