The First Suppliers Hub, a tool for companies moving from climate commitment to action, was launched at the World Economic Forum (WEF) annual meeting in Davos on January 16. Hydro has qualified as a supplier of its pioneering low-carbon aluminium, as one of the few companies in the world providing aluminium with a carbon footprint of less than one-fourth of the global industry average.

Hydro is in Davos this week to engage in discussions about how to change the way materials are produced. For Hydro, a key initiative to accelerate the green transition is its participation in the First Movers Coalition (FMC). FMC is a coalition of companies using their purchasing power to decarbonize heavy emitting sectors, representing 30 percent of global emissions, led by the WEF and the US government.

Hydro announced its first FMC partnership with Volvo Group to accelerate net zero transportation at COP28 in Dubai. Taking the next step, Hydro is proud to be featured as a supplier in FMC’s First Suppliers Hub. This is a global database of suppliers and their projects of innovative and emerging technologies, aimed to simplify the process for organizations as they move from climate commitments to action.

“To accelerate the green transition, the way we produce materials must change. It matters where and how materials are produced, and that is why initiatives like the First Suppliers Hub are crucial to simplify the access to low-carbon technologies and materials needed to enable true decarbonization of society,” says Hydro President and CEO, Hilde Merete Aasheim.

Changing the game for materials at WEF’s annual meeting in Davos

Hydro has qualified as a supplier of its lowest-carbon primary aluminium product, Hydro REDUXA 3.0. Hydro already produces primary aluminium with a carbon footprint of less than one-fourth of the global industry average of 16.7 kg CO2e/kg aluminium. By 2030, the footprint will be further reduced by 25 percent.

“We are excited to set a new standard for low-carbon aluminium. This is, however, only one of many steps needed to reach the ultimate target of zero-emission aluminium. For the green transition to be truly sustainable, the material building blocks of society must be decarbonized as well. Hydro’s ambition is to change the game for aluminium. We will do this by pioneering the green aluminium transition,” says Aasheim. 

The materials sector has a huge responsibility and an important role to play towards a net-zero society. This is why, at the WEF Annual Meeting in Davos during January 2024, Hydro will engage in discussions with decision makers from the public and private sector, focusing on:

• How to reduce the emissions of materials to enable true decarbonization of society.
• The importance of increasing transparency in material footprint to accelerate the green transition.
• Green goes beyond carbon emissions: how business can be a driving force in making a positive impact on local communities, nature, and the climate.

About the First Suppliers Hub

• The First Suppliers Hub is a global repository of innovative and emerging technologies and suppliers that meet or plan to meet the FMC commitment thresholds across the heavy emitting sectors.
• The First Suppliers Hub will be a pivotal tool for organizations as they move from commitments to action. It provides relevant information that reduces research efforts in the procurement process allowing buyers to connect with suppliers and innovators for initiating collaboration, offtake agreements, and more.
• The First Suppliers Hub is also intended for financing organizations and policy makers as they seek to enable the near-zero emissions technology ecosystem.
• The First Suppliers Hub features more than 80 decarbonization efforts that are currently underway from over 40 organizations, that FMC members and other companies can procure from to achieve their FMC commitments and decarbonization goals.
• These efforts include final product goods in line with the FMC commitments along with value chain suppliers and cross sectors enablers.
• The database is free for all organizations globally to access. Users can request access to the hub and suppliers can submit projects via the FMC website.
• The First Suppliers Hub was created by the WEF with strategic advice and support from Deloitte Consulting.

KeyFacts Energy Industry Directory: Hydro