Alba’s commitment to low carbon transition highlighted
Alba’s commitment to transition to a low carbon economy and the resilience of the Middle East market were highlighted by the company’s chief executive Ali Al Baqali at the 37th Fastmarkets International Aluminium Conference 2023 in Barcelona, Spain.
As a panelist on the Opening Executive Panel: ‘State of the Aluminium Industry’, Mr Al Baqali spoke about the resilience of the Middle East market thanks to the recovery in the auto and packaging sectors as well as about Alba’s commitment to transition to a low carbon economy and emphasised that Alba’s ESG Roadmap was developed to address EU’s emerging Carbon Border Adjustment Mechanism (CBAM), Bahrain’s commitment towards Net Zero Emissions by 2060, customers’ demand for lower carbon or greener aluminium products.
He underlined that the company is working on an action plan to identify areas for potential GHG reduction, set CO2 targets and monitor CO2 capture for afforestation drives.
The official also highlighted Alba’s Power Station 5 Block 4 Project, which will reduce the company’s GHG emissions intensity ratio by 0.5x once it is commissioned in 2024.
Comprising top executives from the aluminium industry – Hydro’s president and chief executive Hilde Merete Aasheim and Hongqiao Group’s special adviser Ron Knapp – the panel explored several topics including the global supply/demand outlook and key business opportunities in the next 18 months as well as potential implications of geo-political shifts for the aluminium market.
The Fastmarkets International Aluminium Conference enables decision-makers operating throughout the entire aluminium value chain to stay up-to-date with the latest market insights, and expand their knowledge of the industry’s sustainability efforts and pricing outlooks.
