Advancing Green Finance through our Green Bond

After successfully amending our $1.25 billion Revolver Credit Facility to include sustainability-linked metrics in June 2022, our intention is to further align corporate sustainability commitments to our financing to meet our long-term goals. To that end, we designed a Green Finance Framework, under which we may issue, from time to time, a variety of financial instruments and other Green Finance Instruments in various formats and currencies, to finance and/or refinance, in whole or in part, new or existing qualifying projects that meet defined eligibility criteria and that are expected to have positive environmental impacts.

In March 2024, Alcoa completed our inaugural Green Finance Instrument of $750 million aggregate principal amount of 7.125% senior notes due 2031 (Green Bond). As a result, we published our Green Bond Report in April 2025 which provides an overview of our Green Finance Framework and summarizes the use of proceeds and impact metrics of our Green Bond.

The net proceeds of $737.4 million were fully allocated to Eligible Green Projects across four categories: renewable energy, circular economy adapted products and processes, pollution prevention and control, and water and wastewater management. Examples of funded initiatives include long-term renewable power purchase agreements in Norway, Australia and Brazil; the development of breakthrough low-carbon technologies such as ELYSIS® and ASTRAEA™; and advanced residue filtration at our Pinjarra refinery in Western Australia to enable water recovery and reduce land use.

Read more: Alcoa Green Finance Framework and Green Bond Report