On 26th October 2021, an international aluminium industry body stated that around $1.5 trillion of investment is necessitated to decarbonise power supplies used to produce aluminium, so the sector can initiate achieving the United Nations climate goals.
During an online presentation, the only body representing the global primary aluminium industry, the International Aluminium Institute (IAI) said: “But that huge investment is only a portion of the funds needed so the output of aluminium, one of the most energy-intense metals, can cut emissions by 2050.”
IAI further added: “Around 60% of the aluminium sector's emissions are from the production of electricity consumed in the smelting process, but the investment is also needed to shift to green hydrogen, deploy carbon capture and boost recycling.”
Pernelle Nunez, IAI’s Director of Sustainability and Deputy Secretary-General, said: "It's a big number. It's not something that the industry has the resources to achieve on its own.”
"It's a joint effort in terms of the industry, government, and investors playing their role to deliver on these commitments."
“The aluminium sector would have to slash greenhouse gas emissions by 95% by 2050 to 53 million tonnes from 1.1 billion tonnes to help limit a rise in global temperatures to 1.5 degrees Celsius above pre-industrial levels”, Nunez said.
She added: “The total price tag was unclear because of the rapid changes taking place. It's quite challenging because some of these technologies are quite new."
However, IAI commented: “Under the 1.5C scenario, the carbon intensity of primary aluminium would have to tumble to below 1 tonne of CO2 per tonne of metal by 2050 from 16.1 tonnes currently.”
The primary aluminium production is expected to grow meanly by around 4 million tonnes to 68 million by 2050, whereas, recycled aluminium production is predicted to more than double under that scenario, as recycling slashes approximately 95% of emissions compared to primary aluminium production.
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