Elkem announced a new climate roadmap detailing how the company plans to develop its business in line with the aim of the Paris agreement of limiting global warming to well below two degrees. The company aims to reduce its total fossil CO2 emissions by 28% from 2020-31 while growing its supplies to the green transition ­ thereby delivering a 39% improvement of its product carbon footprint in the same period. Elkem's long-term goal is net zero emissions by 2050. Elkem has a strong position to contribute on climate, having been founded in 1904 to create value from renewable electricity. The company already uses 83% renewable electricity in its operations. Elkem's supplies of advanced silicones, silicon products and carbon solutions are essential to the green transition, with silicon metal on the EU's 2020 list of critical raw materials. Elkem is also externally recognised for climate actions: Ranking among the world's top 5% companies rated by CDP in 2020. The new climate roadmap details Elkem's commitment to limiting the long-term global temperature increase to well below 2°C ­ in line with the Paris agreement ­ while also growing faster than the market and achieving revenue growth of 5-10% per year. To deliver on the roadmap, Elkem will focus on three key levers: Reducing fossil CO2 emissions, supplying to the transition and enabling more circular economies. To reduce fossil CO2 emissions, Elkem aims to change the reduction material in its smelting process to biomass, shift to using more renewable power in China, pursue a more low-carbon supply chain and explore the potential of more carbon capture at its smelters. Elkem has already progressed the share of biomass in its process to more than 20%, now aiming for 50% by 2030. China is currently investing significantly in new renewable energy which is expected to support further improvements in the energy mix going forward. To supply to the transition, Elkem aims to grow its supplies of advanced materials to green markets such as better buildings, electric vehicles and renewable energy; and build new business in green markets such as battery materials, biomass and energy recovery. As a leader in silicone solutions for EV battery protection, Elkem is already supplying to more than 1 million EVs on the road ­ about 15% of the world's EVs. This market is expected to grow exponentially over the coming years. Elkem has set up Vianode as new company dedicated to growth opportunities for advanced battery materials, enabling 90% reductions of emissions compared to conventional materials. To enable more circular economies, Elkem is working closely with customers and researchers to increase recycling with customers and within its own operations, as well as developing the eco-design of innovative products. Elkem is already supplying products based on circular economy to the global market, such as Microsilica, a former by-product now key to some of the world's tallest buildings and longest bridges. Elkem is also currently participating in a project with the potential of reducing the carbon footprint of silicones by more than 65% through chemical recycling.