Hydro is in Davos this week to engage in discussions about how to change the way materials are produced. For Hydro, a key initiative to accelerate the green transition is its participation in the First Movers Coalition (FMC). FMC is a coalition of companies using their purchasing power to decarbonize heavy emitting sectors, representing 30 percent of global emissions, led by the WEF and the US government.

Hydro announced its first FMC partnership with Volvo Group to accelerate net zero transportation at COP28 in Dubai. Taking the next step, Hydro is proud to be featured as a supplier in FMC’s First Suppliers Hub. This is a global database of suppliers and their projects of innovative and emerging technologies, aimed to simplify the process for organizations as they move from climate commitments to action.

“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,” says Hydro President and CEO, Hilde Merete Aasheim.

Changing the game for materials at WEF’s annual meeting in Davos

Hydro has qualified as a supplier of its lowest-carbon primary aluminium product, Hydro REDUXA 3.0. Hydro already produces primary aluminium with a carbon footprint of less than one-fourth of the global industry average of 16.7 kg CO2e/kg aluminium. By 2030, the footprint will be further reduced by 25 percent.

“We are excited to set a new standard for low-carbon aluminium. This is, however, only one of many steps needed to reach the ultimate target of zero-emission aluminium. 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 aluminium. We will do this by pioneering the green aluminium transition,” says Aasheim.  

The materials sector has a huge responsibility and an important role to play towards a net-zero society. This is why, at the WEF Annual Meeting in Davos during January 2024, Hydro will engage in discussions with decision makers from the public and private sector, focusing on:

• How to reduce the emissions of materials to enable true decarbonization of society.
• The importance of increasing transparency in material footprint to accelerate the green transition.
• Green goes beyond carbon emissions: how business can be a driving force in making a positive impact on local communities, nature, and the climate.