Alcoa named one of world's most sustainable corporations
most sustainable corporations in the world during a ceremony at the
World Economic Forum in Davos, Switzerland.
Alcoa, Toyota Motor and BP were recognised in the Global 100 Most Sustainable Corporations in the World for their ability to meet the "triple bottom line," a measure of value that balances the environmental, social and economic impacts of a business.
"It's an honour to see the work of Alcoans recognised globally," said Alcoa chairman Alain Belda. "Sustainability is not new to us, although we may not have always used the term. For years we have been using our values as a guide while striving for excellence with a focus on better understanding and managing our economic, social and environmental impacts with our communities"
Belda claimed that the firm's values require employees to think and act not only on present challenges, but also on the long-term effect of any decision taken.
Manufacturers are experiencing ever-greater pressure to meet new climate control regulations, reduced emission targets and better waste disposal. The Emission Trading Scheme is one of the policies being introduced across Europe to tackle emissions of carbon dioxide and other greenhouse gases and combat the serious threat of climate change.
It is also in the economic interests of companies to think about sustainable production. Rising world energy costs, particularly oil prices to which continental European gas rates are tied, have triggered sharp increases in energy prices across the globe.
Energy charges account for 20-25 per cent of production costs of industries such as manufacturers of glass products, pulp and paper, and steel, rising to 40 per cent for aluminium smelters.
In addition, environmentally friendly packaging has become a major growth area, reflecting consumer and retailer awareness of the issue of waste disposal. A large number of packaging firms are launching products made of 100 per cent recycled materials, and there biodegradable inks are also increasingly evident on the market.
Innovest Strategic Value Advisors, an internationally recognised investment research and advisory firm, provided the data and analysis for the Global 100. Alcoa was named to the list after being selected from Innovest's broad research database covering more than 2,000 companies mostly reflecting the large global indices such as MSCI World, S&P 500, FTSE 350 and Eurostoxx.
Alcoa, Toyota and BP had the highest Innovest scores and ratings overall.
"Companies' performance on environmental, social, and strategic governance issues is having a rapidly-growing impact on their competitiveness, profitability, and share price performance," said Innovaest chief executive Dr Mathew Kiernan. "We at Innovest congratulate the Top 100 sustainability companies; we consider each of them to be particularly well positioned to capture opportunities in this new world we are all entering."
Alcoa is the world's leading producer of primary aluminium, fabricated aluminium and alumina, and is active in all major aspects of the industry. In addition to aluminium products and components, Alcoa also markets consumer brands including Reynolds Wrap aluminium foil, Alcoa wheels, and Baco household wraps.
