IAI launches new initiative to track greenhouse gas reduction of member companies

New Delhi: The International Aluminium Institute (IAI) on Thursday announced the launch of a new initiative that commits to track ambition and progress in reducing emissions by its member companies.

This initiative, which is being launched at the United Nations' Climate Change Conference (COP 28) in Dubai, has already been backed by major aluminium producers as the sector continues to act on reducing its greenhouse gas emissions.

Under the new initiative, the IAI is committed to tracking and reporting on its member companies' ambition and progress in greenhouse gas emission reductions and reporting total global greenhouse gas emissions of the aluminium industry on a public and annual basis, the global body said in a statement.

The signatories include Hindalco Industries Ltd, Aluminerie Alouette, Aluminium Bahrain (Alba), Alcoa Corporation, Mitsubishi Corporation and Rio Tinto Aluminium.

"We gladly welcome the initiative to be transparent on GHGs. Hindalco has been a leader in sustainable metal manufacturing for years. Because of its infinite recyclability," Satish Pai, Managing Director of Hindalco Industries and Chairman of International Aluminium Institute, said.

Hindalco is also exploring greentech innovations, including energy storage technologies like aluminium air batteries and Li-ion batteries, and a pilot project to sequester CO2 through advanced mineralisation.