Hydro
and
our EU agenda
The EU plays a key role for our industry and Hydro as a company towards a low-carbon future. Through outreach towards key policy makers in the EU and EEA, we ensure that our business reflects the European development and that our positions on low-carbon aluminium, recycling and renewable energy are conveyed to key stakeholders.
Hydro’s office in Brussels represents the company’s interests in the EU
Address: 17 rue Archiméde, B-1000 Brussels, Belgium
Telephone: +32 2 286 48 80
Climate action
Hydro fully supports the aims of the Paris Climate Agreement and is committed to the objective of limiting global warming to 1.5 degrees before 2050. Hydro’s interim climate strategy, ‘30 by 2030’, seeks to reduce our own CO2 emissions by 30% throughout the aluminium value chain.
We support the EU in its Green Deal ambitions and believe that defining sustainable economic activities which contribute to mitigating the effects of climate change, with robust corporate reporting on the environmental sustainability of business activities, can be positive for European industry.
We support the EU ETS (Emissions Trading System) and believe existing carbon leakage measures such as compensation for the cost of indirect emissions and free allowances for the best performers according to benchmarks, regardless of carbon instruments at the EU’s borders, are crucial to ensuring the competitiveness of aluminium produced in the single market.
Renewable energy shift
Hydro is committed to powering our industrial operations with renewable energy. Today, >75% of our aluminium production is based on renewables. We are the third-largest hydro power producer in Norway and also operate Norway’s second-largest wind farm while ramping up efforts to explore green hydrogen and offshore wind opportunities.
Hydro pursues physical traceability of the renewable energy footprint in our products, avoiding financial renewable certificates. Hydro also unequivocally supports EU efforts to increase the share of renewable electricity in Europe’s energy mix.
Preserving compensation for indirect CO2 costs incurred from electricity generation and market pricing dynamics is key to ensuring that European industry is not at a competitive disadvantage compared to producers elsewhere. Hydro is also advancing Europe’s battery potential via a number of initiatives such as a joint venture with Northvolt – 50-50 ownership in a battery recycling plant project in Norway – and we support the EU’s work to develop sustainable battery policies.
Low-carbon products
Hydro believes profitability and sustainability go hand in hand. There are ethical reasons for getting industry on a more sustainable path toward the future. We owe it to future generations, who should inherit opportunities, not problems. It’s part of our DNA – and mission – to contribute to viable societies.
Hydro is a trailblazer in low-carbon aluminium products with our market-leading Hydro REDUXA and Hydro CIRCAL, the products of choice of many sustainability-focused customers.
Hydro is actively engaged in discussions at the European level to promote the development of low-carbon product markets to encourage greener business and is committed to the aims of the EU’s New Circular Economy Action Plan to facilitate demand for sustainable products. Our blockchain pilot for tracing our products’ journeys throughout the value chain and their life cycle fosters circularity, transparently showing the carbon footprint and recycled content of our aluminium across both upstream and downstream industry. Carbon footprint claims should incentivize recycling of post-consumer aluminium.
Rules-based trade
The trade in aluminium products along Hydro’s entire value chain spans not just Europe, but the globe. Hydro is committed to ensuring the competitiveness of the aluminium industry within the realm of international trade.
We are a strong defender of the trade system based on multilateral rules; we challenge uncompetitive trade practices as well as unwarranted unilateral trade measures placed on aluminium products that inhibit free trade.
Aluminium is the metal of the future, a key building block for the low-carbon, circular economy that contributes to a modern and viable society. As with all materials, it also comes with a footprint. It is our responsibility to minimize the footprint in production, while generating value to society. Hydro conducts environmental risk assessments and human rights due diligence throughout our value chains. We support human rights due diligence legislation that helps mitigate impacts on people and aids leveling the playing field.
