Hydro’s Bold Move: Accelerating the Shift to Green Aluminium Through First Movers Coalition Partnership
In a groundbreaking development, Hydro, a stalwart in the aluminium industry, has officially joined forces with the First Movers Coalition (FMC) to propel the transition towards green aluminium. This strategic alliance brings together global leaders with a shared commitment to driving demand for clean technologies essential for achieving zero emissions. Led by the World Economic Forum and the US Government, the FMC targets key sectors, including aluminium, aviation, chemicals, concrete, shipping, steel, and trucking, which collectively contribute 30% of global emissions. These sectors play a pivotal role in keeping the planet’s temperature rise below 1.5 degrees Celsius, necessitating the advancement of low-carbon technologies that, while crucial, currently face challenges in cost-effectiveness compared to their high-carbon counterparts.
Hydro’s CEO Emphasizes Global Responsibility
Hilde Merete Aasheim, President & CEO of Hydro, conveyed her pride in Hydro’s commitment to the FMC in an official press release. She highlighted the urgent need for carbon-neutral solutions in aluminium production, given the surging demand for aluminium as a primary material in the green transition. Aasheim underscored the significance of innovative technologies and collaborative efforts across industries to realize emission-free aluminium production.
Commitment to Near-Zero Emissions
As part of its dedicated pledge to the FMC, Hydro commits to ensuring that a minimum of 10% of annually procured external primary aluminium will be near-zero emissions aluminium by 2030. This aligns seamlessly with FMC’s criteria for near-zero or zero-carbon solutions. Going above and beyond, Hydro aims to position itself as a key FMC supplier by delivering near-zero emission aluminium before 2030 and ultimately transitioning to producing exclusively net-zero aluminium by 2050.
FMC’s Market Tipping Point Strategy
The FMC’s strategic approach involves its members committing to purchasing a defined percentage of near-zero or zero-carbon solutions from suppliers, even if they come at a higher cost. Fulfilling these demand commitments by 2030 holds the potential to create a market tipping point, enhancing the affordability and accessibility of low-carbon solutions. This transformative step could significantly expedite the transition of critical sectors towards sustainable practices, marking a paradigm shift in the global pursuit of a greener and more eco-conscious future.