GlobalData offers a comprehensive analysis of Howmet Aerospace, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Howmet Aerospace‘s ESG performance. GlobalData’s company profile on Howmet Aerospace offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Howmet Aerospace, a global leader in engineered metal products, has committed to reduce their carbon emissions. In 2022, the company’s Scope 1, Scope 2, and Scope 3 GHG emissions were reported at 0.38, 0.42, and 2.06 (GHG in millions of metric tons of CO2 equivalents) respectively. The company has also reported its active engagement in waste generation and hazardous waste management. Howmet Aerospace’s latest filings mentioned the keywords ‘Emissions’ and ‘Climate Change’ most number of times in relation to ‘Climate Change’.
Howmet Aerospace has taken several steps to reduce its emissions, including investing in alternative energy-related products and implementing energy-efficient technologies. The company aims to achieve the 21.5% reduction target by 2024 via implementing lower-carbon and energy efficient technologies that helps in reducing the energy demand while maintaining product specifications. In 2022, the company reported a decline in GHG emission intensity by 6.7%.
Howmet has been focusing on improving the efficiency of their supply chain by lowering the carbon emissions across supply chain, both upstream and downstream. The company was able to achieve a 15.2% reduction in GHG emissions in 2022 compared to 2021 through an improved understanding of the purchased metals mix of recycled versus primary metals and the use of some supplier provided carbon intensities. Howmet Aerospace has taken several steps to reduce its emission of air-pollutants and hazardous waste generation. In 2022, the company reported a decline of emissions of metallic hazardous air pollutants by 3.8%. Although Howmet Aerospace reported a reduction in hazardous waste generation by 1.5%, the landfilled waste increased by 18.6% in 2022. Howmet Aerospace has been fined for exceeding emission limits at its facilities in Cleveland, Ohio, and Bestwig, Germany.
In conclusion, Howmet Aerospace has committed to decarbonize its operations significantly and has set specific goals related to scope 1, scope 2, and scope 3 emissions. The company has taken several steps to reduce its emissions either directly or indirectly, including investing in renewable energy and implementing energy-efficient technologies. Further, the company has been expanding their technical capabilities and solutions, including process modeling, to achieve significant fuel economies, reduced emissions and maintain efficiencies. The company is also increasingly collaborating with the suppliers to limit the carbon emissions across supply chain.