Elval at COP28:We are committed to unleashing the circular potential of aluminium

Elval, the aluminium rolling division of ElvalHalcor S.A., a leading aluminium manufacturer, participated in the discussion on the acceleration of aluminium beverage can circularity at COP28. COP28 is the 28^th United Nations Climate Change "Conference of the Parties", organized to build consensus and facilitate decision-making progress on climate action and was held from November 30 to December 12, 2023, in Dubai.

In the panel discussion with the leading companies of the global aluminium industry, Panagiotis Tserolas, Sustainability Senior Manager of Elval, highlighted the company's commitment to support the establishment of the framework and the effective policies needed to unleash the circular potential of aluminium. "Increasing recycling rates of used beverage cans (UBCs) around the world is a critical step to realize our common decarbonization targets", he noted: "Aided by the inherent properties and recyclability of aluminium, we firmly believe in what we can accomplish with collective action, across all stakeholders, policymakers, industry and consumers, towards our common goal of a circular, low-carbon economy and society."

The target set by industry leaders at COP28 is to reach 100% recycling of aluminium beverage and drink cans by 2050, and up to 80 per cent by 2030. Currently, more than 70 per cent of aluminium beverage cans are recycled into new products in Europe, but this figure falls short of making the complete contribution necessary for achieving the 1.5 ^oC -degree target. The number of beverage cans is set to increase from 420 billion in 2020 to 630 billion by 2030 and data has revealed that recycling all cans globally in 2030 would save up to 60 million tons of greenhouse gas emissions per year.

Addressing the panel, Panagiotis Tserolas also underlined: "The investment strategy of Elval has led to a three-fold and higher increase of the company's recycled content metrics across the board, with special emphasis in canstock. We should think of global recycling rates as a very robust indirect index of the carbon emissions that we can avoid for each ton of UBC that does not end up in landfill but returns in the loop. There is untapped potential, not only for the can-making industry, but for the production and consumption model that we envision."