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|Alcoa Corporation Century Aluminum Hindalco Industries Mytilineos* *Edison client|
|Norsk Hydro Rio Tinto Group United Company RUSAL|
- <4t CO2e/t, which potentially equates to ‘low-carbon’ aluminium;
- >4t CO2e/t, which indicates average emissions intensity above that required for ‘low-carbon’ aluminium; and
- >>4t CO2e/t, which indicates average emissions intensity significantly above that required for ‘low-carbon’ aluminium and would apply to companies reliant mostly on coal-fired generation, which can equate to emissions intensities of above 15t CO2e/t.
In summaryA ‘low-carbon’ aluminium classification could potentially support above-average long-term pricing premiums as customers are increasingly willing to pay a premium for low-carbon products and services, which can in turn help them achieve their own emissions reduction targets and/or make their products more attractive to environmentally conscious consumers. Whether premium prices lead to premium profits depends on the potential to source renewable electricity from lower-cost projects/regions. Leaders and laggards are: Leaders: Rusal and Hydro Transitioning: Rio Tinto, Alcoa and Mytilineos Laggards: Hindalco, Century Aluminum and all other listed and non-listed aluminium producers (which do not provide emission data and emissions reduction targets), equating to >50% of global supply.