Across our company, we are focused on three strategic priorities: Reduce Complexity, Drive Returns, and Advance Sustainably.
- Reduce complexity: A portfolio and operating model that is low cost, competitive and resilient across all market cycles
- Drive returns: Improve commercial capabilities, invest in targeted growth opportunities, increase margins across the value chain
- Advance sustainably: Continue to strengthen the balance sheet, transform the portfolio and leverage our industry-leading environmental and social standards for a sustainable future
We believe the long-term outlook for aluminum demand remains strong. With diversified demand across multiple sectors and a wide range of products that will require more aluminum, we expect an increased focus on materials that are sustainably produced. Alcoa has always been a sustainability leader, and we are well positioned for a market that is demanding responsibly sourced materials, helping our customers meet their own sustainability targets.
As a company that is active in all aspects of the upstream aluminum value chain, we have a distinct advantage to deliver sustainably produced products. In bauxite, we lead with sustainable practices that have allowed us to mine in ecosystems such as the Amazon rainforest and the jarrah forest in Western Australia. In alumina, we have the lowest carbon intensity refinery system of any company in the world.
In aluminum, more than 75% of our smelting portfolio is already powered by renewable energy, and that percentage is expected to increase as a result of our multi-year portfolio review, announced in October of 2019.
We are also leading in the innovation of next-generation smelting technology through our ELYSISTM joint venture, which is working to commercialize a process that produces aluminum without any direct carbon dioxide emissions, emitting oxygen instead.
We have set specific objectives to further reduce direct and indirect GHG emissions across our global operations from aluminum smelting and alumina refining operations from 2015 baselines by 30% by 2025 and 50% by 2030.
Through our low-carbon supply chain leadership, we are able to deliver greener product solutions to customers across the world in the form of our SustanaTM product line.
Please visit both our Sustainability and Alcoa Foundation pages to learn more about our commitment to creating sustainable value.