Novelis Inc has issued its first Green Bond Report. The company issued a 500 million EUR Green Bond in March 2021 to fund projects that align with its environmental sustainability priorities. As of March 31, 2022, Novelis has allocated USD 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 US, Brazil, South Korea and Germany. When complete, the Green Bond projects are expected to reduce carbon emissions by more than three million tons annually.
Novelis Inc has issued its first Green Bond Report. The company issued a 500 million EUR Green Bond in March 2021 to fund projects that align with its environmental sustainability priorities. As of March 31, 2022, Novelis has allocated USD 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 US, Brazil, South Korea and Germany. When complete, the Green Bond projects are expected to reduce carbon emissions by more than three million tons annually.
