Novelis Works to Lower Carbon Footprint
Originally published in Scaling Circularity: Novelis 2023 Sustainability Report
Our carbon neutral by 2050 goal demonstrates our long-term commitment and is the pinnacle of our sustainability journey. To further our progress in the near-term, we set a target to reduce absolute carbon emissions by 30% by FY26 from a FY16 baseline.
We calculate our absolute Scope 1, Scope 2, and Scope 3 (Category 1 and Category 4) emissions in line with the guidance of the GHG Protocol. By the end of FY23, our absolute emissions decreased by 14% compared to our FY16 baseline. Novelis enacted a change in how we calculate our carbon footprint. We now follow the equity share approach outlined in the GHG Protocol to account for and report our GHG emissions metrics. In FY23, we engaged PricewaterhouseCoopers LLP (PwC) to perform a limited assurance engagement on certain Scope 1, 2, and 3 GHG emission metrics for the first time. See PwC’s Report of Independent Accountants on page 63 and Management Assertion pages 64-65.
We updated our baseline and FY22 to reflect the change to the equity share approach. Our FY16 baseline increased by 0.7% and our FY26 target is now 14.0Mt.
We also disclose our GHG emissions intensity, measured as our total CO2e per tonne of flat rolled product (tFRP) shipped. We use our intensity metric to assess our progress toward net-zero-carbon goal as our business grows. In FY23, our emissions intensity decreased by 17% compared to our FY16 baseline. In FY23, we reduced our emissions intensity by 13% compared to FY22.
Compared to our FY16 baseline, in FY23, our Scope 3 emissions from purchased goods and services and upstream transportation and distribution decreased due to our increased consumption of scrap over primary aluminum inputs and conversion to modal transportation and distribution. Our Scope 3 emissions decreased by 14% compared to our FY16 baseline.
