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Classified in: Mining industry, Environment
Subjects: RCY, ENI, FVT, ESG

Novelis' First Green Bond Report Highlights $140 Million Allocated to Increase Recycling Capacity, Reduce Usage of Primary Aluminum

Company to take prominent role in 'Circularity 22' conference with executives leading discussion on end-of-life sustainability efforts

ATLANTA, May 16, 2022 /PRNewswire/ -- Novelis Inc., the leading sustainable aluminum solutions provider and world leader in aluminum rolling and recycling, today issued its first Green Bond Report. The company issued a 500 million EUR (approximately $588 million USD equivalent) Green Bond in March 2021 to fund projects that align with its environmental sustainability priorities. As of March 31, 2022, Novelis has allocated $140 million of the net proceeds of this issuance to finance new or existing projects to increase aluminum recycling capacity and reduce primary aluminum usage, including improvements at recycling facilities in the U.S., Brazil, South Korea and Germany. When complete, the Green Bond projects are expected to reduce carbon emissions by more than three million tons annually.

"Over the past 10 years, Novelis has invested more than $700 million to expand our aluminum recycling operations and increase the recycled content of our products to the highest level in the industry," said Pierre Labat, Novelis Senior Vice President and Chief Strategy and Sustainability Officer. "Our Green Bond builds on that commitment by financing projects to advance a low-carbon circular economy and deliver on our purpose of Shaping a Sustainable World Together." 

Novelis is also advancing its purpose as a sponsor and presenter during GreenBiz's "Circularity 22" conference May 17-19, in Atlanta. The conference will highlight the potential for transformative change in the circular economy, with industry leaders discussing innovative ways to foster a more resilient and prosperous world.

In addition to sponsoring the event, Novelis executives Suzanne Lindsay-Walker, Vice President, Sustainability, and Jamie Zinser, Vice President, Global Automotive Sales and Marketing, will lead a comprehensive discussion on the end-of-life stage in the circular economy ? "A System Perspective on End-of-Life Challenges and Wins." The workshop will also include a Q&A session and allow attendees to share their insights. It will take place from 4 to 5 p.m. on May 17.

"Novelis' discussion will elevate our robust and expanding sustainability story and give us the opportunity to highlight long-term, innovative thinking required to design for the end-of-life phase," Lindsay-Walker said. "We are looking forward to an engaging conversation and shared learning about what is required to build the ecosystem for a circular economy."

About Novelis 
Novelis Inc. is driven by its purpose of shaping a sustainable world together. We are a global leader in the production of innovative aluminum products and solutions and the world's largest recycler of aluminum. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. Novelis had net sales of $17.1 billion in fiscal year 2022. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. For more information, visit novelis.com.  

SOURCE Novelis Inc.

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