STOCKHOLM, Oct. 13, 2021 /PRNewswire/ -- Elkem, a global leader in silicon-based advanced materials, today announces 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.
"Elkem aims to be part of the solution to combat climate change – and to be one of the winners in the green transition. Our mission is to provide advanced material solutions shaping a better and more sustainable future. We have a clear corporate strategy to strengthen our competitive positions through specialisation and growth. With this climate roadmap, we detail our ambitions to reduce emissions towards net zero while growing our business," says Elkem's interim CEO, Helge Aasen.
Elkem's direct and indirect emissions (scope 1 and 2) today amount to 3.3 million tonnes (mt) of fossil CO2 equivalents, which will be reduced by 28% to 2.4 mt by 2031. The majority of Elkem's direct emissions come from its smelters in Europe, particularly in Norway and Iceland. The majority of the company's indirect emissions come from China and the use of fossil fuels in the electricity mix.
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.
"Our stakeholders expect Elkem to be a leader on climate, and this climate roadmap sets out bold ambitions and actions. At the same time, Elkem is dependent on our stakeholders to enable a successful green transition: We need customer demand for green solutions, we need attractive framework conditions and we need world-class competence and innovation. We hope this roadmap is seen as an invitation to work with Elkem in making a difference across our industry and beyond," says Aasen.
For more information:
Odd-Geir Lyngstad
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com
Fredrik Norman
VP Corporate Communications & Public Affairs
Tel: +47 918 66 567
Email: fredrik.norman@elkem.com
About Elkem:
Elkem is one of the world's leading providers of advanced material solutions shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 6,800 people has a joint commitment to stakeholders: Delivering your potential. In 2020, Elkem was rated among the world's top 5% on climate and achieved an operating income of NOK 24.7 billion. Elkem is listed on the Oslo Stock Exchange (ticker: ELK). For more information, please visit www.elkem.com.
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The following files are available for download:
https://news.cision.com/elkem/i/elkem-climate-roadmap,c2966631 |
Elkem climate roadmap |
https://mb.cision.com/Public/16930/3431482/865ee04e44918ce6.pdf |
Elkem climate roadmap 2021 |
https://mb.cision.com/Public/16930/3431482/8bc4ed429cb5d705.pdf |
Elkem climate roadmap release |