Pittsburgh aluminium pioneer Alcoa Corporation released its 2022 Sustainability Report this week detailing its Environmental, Social and Governance (ESG) initiatives of the previous year. The firm notes that it continues to be on track for reaching net-zero carbon emissions by mid-century.
Highlights of the report include increasing its percentage of electricity derived from sustainable resources to 86 percent and reducing its carbon dioxide emissions by 4.6 percent. The firm also continued progress on research and development programs aimed at reducing its carbon emissions to zero.
Alcoa grew its sales of the proprietary blend of low-carbon Sustana line of products in 2022, which aided its customers in reaching their own sustainability goals.
The firm also boasted an increase in hires from underrepresented groups by 37 percent and grew its Responsible Sourcing Program by focusing upon human rights and social performance. As a result of its focus on sustainability, Alcoa scored in the top 1 percent of its sector in EcoVadis’s business sustainability ratings.
Alcoa President and CEO Roy Harvey emphasized the importance of increasing sustainability in a related press release.
“Responsible and sustainable practices are vital for our Company, our customers and the world. In fact, strong Environmental, Social and Governance performance will be key differentiators for the future, and that is why Alcoa has a strategic priority to advance sustainably with a vision to reinvent the aluminum industry.”
Alcoa also noted its unblemished safety record in 2022, in which it experienced zero fatalities. It also continued its charitable commitments via community-oriented giving via the Alcoa Foundation and other corporate giving programs.
Alcoa’s Sustainability Report is based upon benchmarks established by the Sustainability Accounting Standards Board (SASB), certain United Nations Sustainable Development Goals, and the International Council for Mining and Metals’ 10 Principles. Additionally, the report was created to follow the Global Reporting Initiative (GRI) Core Standard.