Novelis Inc. has completed its Green Bond financial commitments.The achievement underscores Novelis’ dedication to advancing sustainability through substantial investments in green projects. 

In the third Green Bond report, Novelis shares how their investments are driving innovation and helping the company achieve its goals for reducing carbon emissions, energy use, water use, and landfill waste. 

In its final Green Bond report, Novelis shares that an amount equal to the total net proceeds of $588 million from the March 31, 2021, issuance of the €500 million, 3.375% Senior Notes due April 15, 2029, have been used to finance new or existing renewable energy and pollution prevention & control projects in the 36 months prior to the issuance through September 30, 2023. 

“Although we’ve met the spend commitment of our Green Bond, our commitment to sustainability is never ending,” said Steve Fisher, president & chief executive officer, Novelis. “We are aiming for a carbon-neutral future for aluminium – built on a global, circular economy – and every day we innovate and collaborate with our customers to move us closer to that future.” 

A number of projects were highlighted in the report to demonstrate Novelis’ success. Among them Novelis completed a $2.4 million solar installation at its production facility in Pieve, Italy. This initiative is expected to reduce carbon emissions by 1,450 tonnes annually. The estimated annual energy output of 4,000 MWh – which is approximately 12% of the plant’s total electricity demand.

The report also highlighted the Alunorf plant in Neuss, Germany, a joint venture of Novelis and Speira, successfully commissioned its third recycling furnace. The third furnace expands the plant’s recycling capacity by more than 50 kt a year, saving up to 415,000 tonnes of carbon emissions per year. 

Another key project was the new recycling plant in Bay Minette, Alabama. This highly advanced facility is expected to increase the number of used beverage cans (UBCs) the company recycles per year by 15 billion. 

Novelis believes that the projects highlighted in the Novelis Green Bond report demonstrate their commitment to driving innovation, creating a circular economy for aluminium and building a more sustainable future.