Goal 13: Take urgent action to combat climate change and its impact
Climate change affects Elkem in different ways, both physically and when it comes to technology development, market adaption, reputation and regulatory limitations. Climate change mitigation exposes Elkem to several challenges and opportunities. Climate change response and transitioning to more sustainable solutions will impact our business and financial conditions going forward.
Elkem actively promotes climate change mitigation actions. Elkem endorses the intention of the Paris agreement of limiting global warming to 1.5 degrees Celsius. The organisation supports the work of the Task Force on Climate-related Financial Disclosures (TCFD) standard and has aligned the climate risk management according to the recommendation in the standard.
Elkem’s ambition is to reduce the company’s fossil Co2 footprint, by increasing the use of renewable carbon sources and development of innovative production processes. Our long-term goal is to achieve carbon neutral metal production. Several research and development (R&D) projects are in place to develop the necessary technology to reach this goal. Simultaneously, Elkem seeks to reduce fossil CO₂ emissions by replacing fossil coal with biocarbon as a reduction agent in our smelting furnaces. We are committed to continue our efforts to reach our goal of 40 per cent biocarbon in our production in Norway by 2030 (scope 1). In addition, energy recovery and waste management measures will support our work on minimising our carbon and environmental footprint.
We were pleased to learn that we have been recognised as a leader in climate transparency and action by the CDP in 2020, putting us on their A list.
SDG impact report 2020 – SDG 13
Subgoal 13.1: Strengthen resilience and adaptive capacity to climate related hazards and natural disasters in all countries
Ranked at CDPs A list
Scope 1 emissions: 2.95 million tonnes
Scope 1 emissions from renewable, biogenic sources: 20%
Scope 2 emissions: 916 000 tonnes
Energy recovery rate: 11%