The International Aluminium Institute (IAI) unveiled a groundbreaking initiative during COP28 aimed at monitoring and disclosing greenhouse gas emissions in the aluminium industry. Supported by major players like Hindalco Industries Ltd, Aluminerie Alouette, and Rio Tinto Aluminium, this move emphasizes transparency and accountability in reducing carbon footprints. The initiative aligns with the Paris Agreement's goals, pivotal in curbing global warming.
The International Aluminium Institute (IAI) made a pivotal announcement at COP28, revealing a pioneering initiative focused on monitoring and revealing greenhouse gas emissions within the aluminium industry. Backed by major industry players such as Hindalco Industries Ltd, Aluminerie Alouette, Aluminium Bahrain (Alba), Alcoa Corporation, Mitsubishi Corporation, and Rio Tinto Aluminium, this initiative marks a significant step toward environmental sustainability in aluminium production.
This trailblazing initiative by the IAI holds immense importance, seeking to foster sustainability in aluminium production by ensuring transparency and accountability regarding greenhouse gas emissions. The commitment involves annual public reporting on member companies' efforts to curtail greenhouse gas emissions. This collective effort aims to align with the ambitious targets set forth by the Paris Agreement, ultimately limiting global warming to 1.5°C above pre-industrial levels.
Satish Pai, the Managing Director of Hindalco Industries and Chairman of the International Aluminium Institute, expressed enthusiasm about this transparency initiative, citing Hindalco's established leadership in sustainable metal manufacturing. Moreover, Hindalco is delving into green technology innovations, exploring energy storage solutions like aluminium air batteries and lithium-ion batteries, along with a CO₂ sequestration pilot project through advanced mineralisation techniques.
While the aluminium industry contributes around 1% of global greenhouse gas emissions, significant strides have been made. The IAI's initiative underscores the industry's dedication to minimizing its environmental impact.
This proactive move signifies a collective commitment to embracing sustainable practices, essential in addressing climate change and meeting global emission reduction objectives.