Aluminium products manufacturer Hulamin reports that it has become the first global aluminium semifabricator to have a greenhouse-gas (GHG) emissions target approved by the Science Based Targets initiative (SBTi).
The SBTi mobilises companies to set science-based targets and boost their competitive advantage in the transition to a low-carbon economy. It is a collaboration between CDP (formerly the Carbon Disclosure Project), the United Nations Global Compact, the World Resources Institute and the World Wide Fund for Nature (WWF).
Hulamin’s science-based target provides a clear roadmap that aligns with the ambition of the Paris Agreement to limit global warming to below 2 ºC above preindustrial levels, while pursuing efforts to limit warming to 1.5 ºC.
It sets out how much and how quickly the company will reduce its GHG emissions.
Specifically, Hulamin intends to reduce absolute Scope 1 and Scope 2 GHG emissions by 30% by 2030 from a 2018 base year. The company also commits to reduce Scope 3 GHG emissions by 24% for every tonne of aluminium produced by 2030 from a 2018 base year.
In terms of the SBTi, science-based targets are validated by technical experts and can help to safeguard a company’s growth and profitability by keeping business relevant and competitive during a transition to a low-carbon economy. By setting targets that align their business with global efforts to avoid the worst impacts of climate change, Hulamin is positioning itself to thrive as the global economy transitions to a low-carbon future.
Hulamin CEO Richard Jacob says that, on the global environmental stage, humanity has an important role to play in preserving the future. “From the person in the street to our food producers, those in the conservation of forest and fauna and even our large-scale mining and manufacturing industries, we are all on a journey to preserve our globe for the next generation.”
He adds that Hulamin takes this role seriously and is proud to be an active participant in making a contribution to limiting climate change.
“To this end, I am pleased to be a partner with the Hulamin team, who have worked diligently and responsibly to commit to ensuring the limitation of GHG emissions from all our production facilities.”
Jacob encourages all Hulamin’s fellow industry role-players to make the same ambitious commitments to sustain Earth.
WWF Science Based Targets and member of the Science Based Targets initiative steering committee global lead Alex Farsan congratulates Hulamin on becoming the first global aluminium semifabricator to have its emission reduction targets validated by the SBTi. “The aluminium sector has an important role to play in the transition to a net-zero economy. By setting targets that align [its] business with a clearly defined pathway to futureproof growth, Hulamin is positioning itself as a leader in its sector to thrive as the glovbal economy transitions to a low-carbon future.”