Within the framework of the partnership, Hydro and Volvo Group intend to form a roadmap towards supplying primary aluminium in 2030 with an 80 percent reduced carbon footprint compared to today's global industry average. The landmark agreement is signed under the First Movers Coalition which was launched by U.S. President Joe Biden and the World Economic Forum at COP26.

"Partnership is the new leadership. I am delighted to see two of our First Movers Coalition partners joining forces, utilizing the power of procurement to spearhead the shift towards green aluminium and accelerate the demand for net zero technologies," says U.S. Special Presidential Envoy for the Climate John Kerry.

The Hydro and Volvo Group Partnership include:

  • Establishing a roadmap towards supplying near zero aluminium ahead of 2030.
  • Cooperating to enable greater use of low-carbon aluminium in Volvo's production towards supplying net zero aluminium in 2040.
  • Validating new recycling standards for alloys, to optimize material reuse and exploring closed-loop value chains enabling more scrap to be utilized.
  • Exploring how Volvo Group's innovative transport solutions can be used in Hydro's mining operations in Brazil to further reduce the carbon intensity of the aluminium value chain.

Currently, Hydro produces primary aluminium with a carbon footprint of one-fourth of the global industry average, which is 16.7 kg CO2e/kg aluminium. By 2030, the company will reduce emissions by a further 30 percent and deliver industrial scale pilot volumes based on emission free smelting technology. Committed to pioneering the green aluminium transition, by 2050, Hydro's ambition is to produce net zero aluminium, while contributing to a nature positive future through initiatives on biodiversity, waste handling and land use.

Hydro and Volvo Group join forces to accelerate net zero transportation. Pictured are electric heavy vehicles from Volvo. (Photo: Volvo Group)

"We are rethinking every step of our value chain to transform our industry, and to enable our customers in creating truly decarbonized end-products. Every step matters on the road to zero - one example is exploring how Volvo Group's innovative solutions can enable us to further reduce carbon emissions in our value chain," says Hydro President and CEO Hilde Merete Aasheim.

Hydro and Volvo Group have a well-established commercial relationship and are firmly rooted in their Scandinavian heritage. In recent years, the Nordics have taken global leadership in developing the critical components powering the green transition. Adding to Nordic innovation in green battery and steel development, Hydro is pioneering the green aluminium transition.

"We are committed towards our leading target to achieve a net zero value chain by 2040. Access to low-carbon aluminum is another step forward. We truly believe that it is only by moving forward together, through a joint collaboration we have agreed here with Hydro, that we can make a positive impact on our climate," says Volvo Group president and CEO Martin Lundstedt.

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The First Movers Coalition was launched by US President Biden and the World Economic Forum at COP26 to decarbonize heavy industry and the long-distance transport sectors responsible for more than one third of global emissions. The global initiative, made up of close to 100 businesses, works to harness the purchasing power of companies to decarbonize seven hard-to-abate industrial sectors that currently account for 30% of global emissions: aluminium, aviation, chemicals, concrete, shipping, steel and trucking, along with innovative carbon-removal technologies. For further information, see here

Volvo Group is leading the transition to sustainable, safe, and more productive transport and infrastructure solutions, as part of a shared journey towards a net-zero society. Volvo Group aim to provide sustainable transportation solutions that keep goods and people moving freely, and deliver the equipment needed to build and maintain vital infrastructure, while driving the shift towards a decarbonized transport system. Volvo see the transition to net-zero through fossil-free solutions as an opportunity to create meaningful impact, while also leveraging the growth potential the transition will offer. Volvo do this by establishing high-level partnerships across the value chain and beyond to drive real change. volvogroup.com

Hydro is a leading aluminium and energy company that builds businesses and partnerships for a more sustainable future. Hydro develops industries that matter to people and society. Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for our 32,000 employees in more than 140 locations and 40 countries.

Today, Hydro owns and operates various businesses and have investments with a base in sustainable industries. Hydro is present in a broad range of market segments for aluminium and metal recycling, and energy and renewables. Hydro offer a unique wealth of knowledge and competence.

Hydro is committed to leading the way towards a more sustainable future, creating more viable societies by developing natural resources into products and solutions in innovative and efficient ways.

Published: December 02, 2023

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Norsk Hydro ASA published this content on 02 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 December 2023 11:48:12 UTC.