Climate Change Data

Elkem ASA

Climate Impact & Sustainability Data (2021, 2022)

Reporting Period: 2021

Environmental Metrics

Total Carbon Emissions:10,248,372 tCO2e (2020)
Scope 1 Emissions:2,387,915 tCO2e (2020)
Scope 2 Emissions:906,286 tCO2e (2020)
Scope 3 Emissions:6,954,171 tCO2e (2020)
Renewable Energy Share:83% (2020)
Total Energy Consumption:7,950,102 MWh (2020)
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Climate Change

Environmental Achievements

  • Achieved an A- in the 2021 CDP Climate reporting
  • Reached 20% biocarbon goal in Norway in 2020, with group share rising to 19%
  • Developed a new global climate roadmap with ambitious goals for 2031 and 2050

Social Achievements

  • Not disclosed

Governance Achievements

  • Integrated climate-related issues into Elkem’s overall business strategy
  • Established an ESG steering committee to evaluate climate change, mitigate risks, and seize opportunities

Climate Goals & Targets

Long-term Goals:
  • Achieve fully carbon neutral production (zero fossil emissions) globally by 2050
Medium-term Goals:
  • Deliver 39% improvement in product footprint by 2031
Short-term Goals:
  • Reduce absolute emissions by 28% from 2020-2031 while growing the business
  • Increase biocarbon share to 50% by 2030

Environmental Challenges

  • Transitional risks (emerging regulation and carbon pricing, substitution of existing products with lower emissions options, access to critical raw materials)
  • Physical risks (changes in precipitation patterns and extreme weather events)
  • Potential impact of EU Taxonomy and carbon pricing mechanisms on operating costs
Mitigation Strategies
  • Increase the use of biocarbon in smelters (target: 50% by 2030)
  • Reduce energy consumption and GHG emissions
  • Develop products that enable reduced GHG emissions
  • Investigate solutions for CCS/CCU to become carbon neutral by 2050
  • Monitor potential risks of heavy rainfall and flooding events
  • Implement protective measures to buildings and production equipment

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Actively pursue long-term sourcing of renewable-based silicon metal and emission-free logistics

Climate-Related Risks & Opportunities

Physical Risks
  • Heavy rainfalls leading to flooding
  • Sea-level rise
  • Heat and drought
  • Extreme weather events
Transition Risks
  • Emerging regulation and carbon pricing
  • Substitution of existing products with lower emissions options
  • Access to critical raw materials
  • EU Taxonomy
  • Carbon Border Adjustment Mechanism (CBAM)
Opportunities
  • Growing demand for products enabling lower GHG emissions (renewable energy, energy storage, electrification of transportation)
  • Production of synthetic graphite for battery anodes
  • Increased recycling of silicones (potential 65% emission reduction)
  • Increased share of biogenic reduction materials

Reporting Standards

Frameworks Used: TCFD, CDP

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Silicones for EV applications
  • Anode material for Li-ion batteries
  • Biocarbon

Awards & Recognition

  • Not disclosed

Reporting Period: 2022

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:Not disclosed
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:Not disclosed

ESG Focus Areas

  • Environmental
  • Social
  • Governance
  • Climate Change
  • Sustainability

Environmental Achievements

  • Not disclosed

Social Achievements

  • Not disclosed

Governance Achievements

  • Implemented guidelines and procedures in accordance with section 3-3c of the Accounting Act, including code of conduct, policy on anti-corruption and CSR policies.
  • Revised Elkem’s strategy and set out dual play growth and green leadership as the main strategic priorities.

Climate Goals & Targets

Long-term Goals:
  • Not disclosed
Medium-term Goals:
  • Not disclosed
Short-term Goals:
  • Not disclosed

Environmental Challenges

  • Covid-pandemic, the war in Ukraine, shortages of semi-conductors and power disruptions
Mitigation Strategies
  • Elkem has independent and fully integrated value chains both in the East and West and has managed well through these challenging conditions.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Not disclosed

Climate-Related Risks & Opportunities

Physical Risks
  • Not disclosed
Transition Risks
  • Not disclosed
Opportunities
  • Not disclosed

Reporting Standards

Frameworks Used: UN Global Compact, TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Elkem develops its business in support of the ambitions of the UN Sustainable Development Goals and the Paris agreement.

Sustainable Products & Innovation

  • Not disclosed

Awards & Recognition

  • Not disclosed