Hydro Expands Commitment to Green Transition with First Suppliers Hub Membership

Hydro Expands Commitment to Green Transition with First Suppliers Hub Membership

(IN BRIEF) Hydro, a leader in low-carbon aluminum production, has joined the First Suppliers Hub, a tool launched at the World Economic Forum’s annual meeting in Davos. The hub streamlines the transition from climate commitments to action for companies dedicated to sustainability. Hydro, known for its low-carbon aluminum, is part of the First Movers Coalition (FMC), a group focused on reducing emissions in heavy sectors. At COP28 in Dubai, Hydro announced its partnership with Volvo Group within the FMC. Now, it’s featured in the First Suppliers Hub, simplifying access to low-carbon technologies and materials for decarbonization efforts.

(PRESS RELEASE) OSLO, 16-Jan-2024 — /EuropaWire/ —  Norsk Hydro ASA (OTCMKTS: NHYDY), a Norwegian aluminium and renewable energy company committed to a sustainable future, is pleased to announce its inclusion in the First Suppliers Hub, a groundbreaking tool unveiled at the World Economic Forum’s (WEF) annual meeting in Davos. The First Suppliers Hub, initiated by the First Movers Coalition (FMC), streamlines the transition from climate commitments to action for companies committed to sustainability. Hydro, recognized for its pioneering low-carbon aluminum solutions, is a key contributor to the decarbonization efforts championed by the FMC, a coalition of companies aiming to reduce emissions in heavy sectors responsible for 30 percent of global emissions.

At COP28 in Dubai, Hydro initiated its first partnership within the FMC, collaborating with Volvo Group to expedite net-zero transportation. As an extension of this commitment, Hydro is proud to be featured as a supplier in the First Suppliers Hub, a global database showcasing suppliers and their innovative projects, simplifying access to low-carbon technologies and materials critical for comprehensive decarbonization.

Hilde Merete Aasheim, President and CEO of Hydro, emphasizes the need for materials production to align with sustainable practices: “To accelerate the green transition, the way we produce materials must change. It matters where and how materials are produced, and that is why initiatives like the First Suppliers Hub are crucial to simplify the access to low-carbon technologies and materials needed to enable true decarbonization of society.”

Hydro’s primary aluminum product, Hydro REDUXA 3.0, boasts a carbon footprint of less than one-fourth of the global industry average, already a significant achievement. By 2030, Hydro aims to further reduce this footprint by 25 percent. Aasheim highlights Hydro’s commitment to revolutionize the aluminum industry: “For the green transition to be truly sustainable, the material building blocks of society must be decarbonized as well. Hydro’s ambition is to change the game for aluminum. We will do this by pioneering the green aluminum transition.”

During the WEF Annual Meeting in Davos, Hydro will engage with public and private sector leaders to address key topics:

1. Reducing material emissions to enable comprehensive decarbonization.
2. Enhancing transparency in material footprint to accelerate the green transition.
3. Broadening the scope of green initiatives beyond carbon emissions to foster positive impacts on local communities, nature, and the climate.

About the First Suppliers Hub