Novelis Inc. 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 aluminium recycling capacity and reduce primary aluminium 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 aluminium 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."