Alcoa Corporation announced that the aluminum company sourced 86% of the electricity used in its smelters from renewable energy.
In 2019, Alcoa set a goal to source 85% of its electricity for the global smelting portfolio from renewable sources by 2025, which was first achieved in 2022.
In 2024, the company’s overall use of renewable electricity slightly decreased from 87% to 86% due to stagnating adoption rates in selected markets (starting from high initial levels) along with increased production at its Warrick smelter in the U.S. and at the São Luís smelter in Brazil, where the Brazilian grid factors increased due to dry weather reducing hydropower production in 2024.
Alcoa achieved a 27.2% reduction in refining and smelting emissions intensity from its 2015 baseline.
The company also allocated $737.4 million to Eligible Green Projects from Alcoa’s Green Bond. The net proceeds were fully allocated to Eligible Green Projects across four categories: renewable energy, circular economy adapted products and processes, pollution prevention and control, and water and wastewater management.
A few examples of these funded initiatives are long-term renewable power purchase agreements in Norway, Australia and Brazil; the development of breakthrough low-carbon technologies such as ELYSIS® and ASTRAEA™; and advanced residue filtration at the Pinjarra refinery in Western Australia to enable water recovery and reduce land use.
As detailed in its 2024 Sustainability Report, the company also completed 15 supplier site collaborations as part of Alcoa’s responsible sourcing program, a 10-site increase from 2023.
“Alcoa’s 2024 Sustainability Report reflects the commitment of Alcoans around the world to building a stronger, more resilient company,” said Nicol Gagstetter, Executive Vice President and Chief External Affairs Officer, in a statement. “It captures much more than just metrics; it tells the story of how we deliver on our purpose and our values as we work with each other and our stakeholders to earn our license to operate.”