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.
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Howmet Aerospace, a leading aerospace and defense company, believes that its contribution to the transition toward a lower-carbon economy entails aligning both direct and indirect emissions with the objectives established in the Paris Agreement. The company's short-term objective is to reduce its GHG emissions by 21.5 percent overall (Scope 1 and Scope 2) by 2024, from a 2019 baseline.
As per 2022 ESG report, the company’s Scope 1 and Scope 2 GHG emissions were 0.8 million metric tonnes, up 5.3 percent from 2021 and down 20.0 percent from the 2019 baseline. In 2022, the company's direct (Scope 1) greenhouse gas emissions were 0.38 (million mtCO2e), and its indirect (Scope 2) greenhouse gas emissions were 0.42 (million mtCO2e). Howmet's Scope 3 greenhouse gas (GHG) emissions amounted to 2.06 million metric tons, with purchased metals contributing to approximately 66 percent of this total.
The company has been transparent about its emissions from purchased goods and services, capital goods, fuel and energy-related activities, waste from operations, and more. The trend shows an increase in emissions over the years, indicating the need for further reduction efforts.The company has also reported on its landfill waste intensity, with a trend of reducing waste generated and diverting waste from disposal. This indicates a proactive approach to waste management and reduction.
To achieve its emission reduction targets, the company has invested in energy efficiency measures and alternative energy-related products. It has also implemented measures to manage risks associated with the use of critical materials in its supply chain.
Overall, Howmet Aerospace is actively working towards reducing its GHG emissions, evident through its proactive strategies, investments in energy efficiency, and transparent reporting. The company's focus on emission reduction, waste management, and supply chain risk mitigation underscores its dedication to a sustainable, lower-carbon future within the aerospace industry.
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