The aluminium industry’s milestone climate initiative at COP28

Published 7th December, 2023 by Zahra Awan

By Pernelle Nunez, Deputy Secretary General & Director of Sustainability

As the world’s political and business leaders converge in the United Arab Emirates for COP28, the need to limit climate change and accelerate action to tackle the crisis has never been greater.

The aluminium industry has a central part to play. Accounting for 2% of global anthropogenic emissions, and a critical metal in many green technologies, our industry recognises its immense responsibilities and must commit to a collective effort to reduce its emissions in line with global climate goals.

There is no better place to do this than COP28.

Leading from the front

The significance of the aluminium industry in shaping modern society cannot be overstated. In many regions it is a major economic driver, it provides jobs globally and contributes to the infrastructure that forms the backbone of communities in all corners of the world.

That standing and responsibility means we must take decisive action to do our bit when it comes to generational challenges such as the climate crisis.

Recognising its leading role in bringing the global industry together, the International Aluminium Institute (IAI) has launched a milestone initiative, unveiled at COP28, to transparently track and publicly report the progress of its member companies in reducing greenhouse gas emissions.

It means our member companies will clearly state their climate change ambition and annually publish data that will allow their progress to be judged.

Why are we doing this now?

Because COP28 presents a unique opportunity for the aluminium industry to unite and commit to sustainable development. And there is no time to waste.

The IAI's initiative signifies a commitment by major industry players at a critical point as climate ambitions and plans become action. Companies will have to not only state long-term greenhouse gas emission reduction targets by 2024, but also outline their long-term emissions reduction plans for action.

This commitment, accompanied by interim milestones, and annual progress reporting, is proof of the industry's dedication to fostering transparency and being held accountable to meeting ambitious targets.

We are already making great progress. From decarbonising electricity to reducing direct process emissions and enhancing recycling and resource efficiency, the industry is actively pursuing solutions and as a result emissions intensity is declining.

China's shift to hydropower, innovative technologies like inert anode electrolysis, and the adoption of renewable energy around the world showcase the industry's tangible efforts.

Our commitment to decarbonisation must not waver and we know we must do more. We must continue investing in these technologies, driving innovation, and actively participating in global discussions to accelerate the transition to a greener future.

The power of collaboration 

To achieve these goals, collaboration is not just beneficial; it is essential. The IAI's partnership with World Climate Foundation at COP28 underscores the importance of engaging with the investment and business community to unlock essential capital and strategic partnerships that will be key to delivering on the sector's ambitions.

The aluminium industry recognises our shared responsibility to deliver a sustainable material for consumers while at the same time driving down the costs of clean technologies and processes. This collaboration is an investment in our industry and a demonstration of our commitment to a sustainable, low-carbon future.

Against a backdrop of rising inflation, geopolitical challenges, and an energy security crisis, our collective resolve must remain steadfast. Strengthening partnerships with policymakers, governments, the finance sector, investors, and fellow industries is paramount to delivering meaningful solutions.

Failure to seize this opportunity at COP28 would send a message that we are not serious about addressing the climate emergency. The time for action is now, and our industry stands ready to ensure a greener and more resilient tomorrow, and a stronger, more sustainable aluminium industry for all stakeholders.