Constellium to Join the First Movers Coalition, Supporting the Aluminium Industry’s Transition to Decarbonization
Constellium (NYSE: CSTM) has joined the First Movers Coalition, a global initiative aimed at accelerating zero-carbon technologies. By 2030, Constellium pledges that 10% of its primary aluminium purchases will be near-zero emissions and at least 50% of its aluminium will come from recycled sources. The company's commitment aligns with its target of a 30% reduction in carbon emissions intensity by 2030. The initiative, led by the World Economic Forum, includes over 50 firms striving for climate goals in hard-to-abate sectors.
- Joining the First Movers Coalition enhances Constellium's commitment to sustainability and decarbonization.
- Pledges to achieve 10% near-zero emissions in primary aluminium purchases by 2030.
- Targeting at least 50% of aluminium from recycled sources by 2030 complements sustainability goals.
- Potential risks from market competition and supply disruptions could impact compliance with sustainability targets.
- External factors like inflation and geopolitical tensions may hinder operational flexibility.
PARIS, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) announced today that it is joining the First Movers Coalition (FMC), a global initiative to accelerate zero-carbon technologies and reduce carbon emissions.
The First Movers Coalition is a global initiative led by the World Economic Forum and the U.S. Government to decarbonize hard-to-abate sectors by leveraging companies’ combined purchasing power. More than 50 companies have joined the coalition to drive more green demand and low-carbon technologies and to help advance the world’s climate goals.
“We are proud to join the First Movers Coalition and to contribute to a faster decarbonization journey for the industry. Aluminium is fully and easily recyclable, and nearly
“Constellium’s impact across the value chain makes the company a tremendous addition to the First Movers Coalition. We look forward to partnering with Constellium to encourage clean energy innovation and move the aluminium industry toward a zero-carbon future,” said Nancy Gillis, Programme Head of the First Movers Coalition, World Economic Forum.
By joining the FMC, Constellium pledges that by 2030, 10 percent of its primary aluminium purchases will be near-zero emissions, emitting less than 3 tons of CO2 per ton. The FMC pledge also includes a commitment that by 2030 at least 50 percent of all aluminium Constellium uses will be from recycled sources.
Constellium’s commitments to the FMC complement its targets to accomplish a 30 percent reduction in carbon emissions intensity by 2030 (scope 1, 2 and 3), and to increase its recycled input. They also further its engagement to build a sustainable supply chain. Constellium is a founding member of the Aluminium Stewardship Initiative, and has certified several of its facilities. The company has recently joined the Mission Possible Partnership, an alliance of climate leaders focused on boosting decarbonization across the entire value chain of the world’s highest-emitting industries in the next 10 years.
About Constellium
Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated
Forward-looking statements
Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may contain “forward-looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, “believes,” “expects,” “may,” “should,” “approximately,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” likely,” “will,” “would,” “could” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: market competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the global COVID-19 pandemic; the Russian invasion of Ukraine; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; supply disruptions; excessive inflation; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
| Jason Hershiser– Investor Relations Phone: +1 (443) 988-0600 investor-relations@constellium.com | Delphine Dahan-Kocher – Communications Phone: +1 (443) 420 7860 delphine.dahan-kocher@constellium.com |
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