Elkem launches its climate roadmap
Silicon materials player Elkem has announced a new climate roadmap, detailing how it plans to develop its business in line with the aim of the Paris agreement of limiting global warming to well below 2°C, while also achieving revenue growth of 5-10%/year.
The company said that it aims to reduce its Scope 1 and 2 emissions by 28% from 3.3 million tonnes of fossil CO2 equivalents in 2020 to 2.4 million in 2031 while growing its supplies to the green transition, thus delivering a 39% improvement of its product carbon footprint in the same period. Its long-term goal is net zero emissions by 2050.
Key levers in this begin with increasing the level biomass in its smelters, particularly in Norway and Iceland, from 20% to 50%; using more renewable power in China, which is the source of most of its indirect emissions; and working with customers and researchers to increase chemical recycling of end-of-life.
More generally, Elkem will support the general transition by supplying more materials to green markets, like better buildings, electric vehicles (EVs) and renewable energy, and building new business in battery materials, biomass and energy recovery. It already supplies silicones to about 15% of the EVs on the road today and has set up a new subsidiary for advanced battery materials in Vianode.