According to Alcoa Issues 2023 Sustainability Report (n.d.), though Alcoa corporation is a key player in mining industry it faces sustainable challenges and associated benchmarks. It addresses those challenges and promote long-term viability.
Environmental challenges:
Aluminum mining is energy exhausting industry producing lots of green house gas, However Alcoa management aims to set specific targets for emissions per unit of aluminum produces and reduce the emission by 10% in comparison to 2020. For this purpose, it integrates advanced technologies for smelting. Alcoa also aims to reduce water consumption through efficient recycling. It issues land rehabilitation and reclamation plans to restore the areas after mining. It set targets of percentage of mined land to rehabilitation per year.
Challenge of Indigenous Sites:
Alcoa’s management develop benchmark for community engagement incorporating feedback mechanism during consultation. The management understand that mining near indigenous sites is a delicate task thus it has policies for engagement with indigenous communities and processing formal agreements for heritage protection.
Technological Challenges:
Alcoa promises innovation in sustainable technologies to reduce costs and environmental impact by investing in Research and Development for energy efficient methods and low carbon smelting procedures.
Economic challenges:
The adherence to sustainable challenges is difficult however the management of Alcoa practices cost benefit analysis to ensure sustainable investments to gain long term economic benefits over short term success.
