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Climate Change—Approach
The global voice to address climate change grows louder every day, and there is much anticipation for increased commitment to achieve a post-Kyoto-period agreement in the negotiations to take place in Copenhagen at the end of 2009. Alcoa continued its leadership within the industry, and we’ve been actively engaged in the process.
In 1998, we established a Climate Change Strategy Team that developed and promoted our position on climate change, including our target of reducing greenhouse gas (GHG) emissions by 25% below 1990 levels by 2010. We achieved that goal in 2003, despite our continuous growth. In 2008, we reduced direct emissions by 36% from 1990 levels.
We refined our global strategy in 2008 to adapt to specific outcomes emerging from regional legislative developments. The strategy will specifically allow us to:
- Incorporate the physical impacts of climate change into growth decisions and operational planning for existing assets;
- Integrate carbon risk into capital planning and valuation of mergers and acquisitions; and
- Establish a prioritized action plan for mitigating carbon risk and maximizing business opportunities.
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