Hilde Merete Aasheim’s Post

Every step matters on the path to zero! Great start to the week to have Minister of Trade and Industry, Jan Christian Vestre cut the ribbon for Hydro’s latest investment in recycling at our plant in Årdal. With an annual capacity of 25 000 tonnes of post-consumer aluminium scrap annually this is an important step on our journey to change the game for aluminium by pioneering the green aluminium transition. https://lnkd.in/dhVbNMp9

Congratulations, Eivind Kallevik ! This morning I announced that I will be stepping down from my position as President & CEO of Hydro as of 13 May 2024.     I believe that one of the most underrated responsibilities of a leader is to know when it’s the right time to step back, and to make room for the next in line. For me personally, as well as for Norsk Hydro, I have come to the conclusion that this is the right time for a new CEO to step in and lead the company into the next chapter of our 118-year long history of pioneering industries that matter.     I am happy that Hydro’s Board of Directors has appointed Eivind Kallevik as Hydro’s new President & CEO.     I have worked together with Eivind for many years, and I cannot imagine anyone better suited for this job than him. His experience and personal qualities give me great certainty that he will build on the foundation he takes over and elevate Hydro to the next level.  For the past five years, Eivind has served as executive vice president of Hydro’s Aluminium Metal business area. Before that he served as Hydro’s CFO for six years, in addition to a range of leading positions throughout the Hydro organization since he joined the company in 1998.     Having served as Hydro’s CEO for five years has been a great privilege, a lot of work, but most of all: a lot of fun and inspiration. Blessed with 32 000 of the best colleagues available we have succeeded in making Hydro a more profitable, more robust and more sustainable company.   I wish Eivind all the best when he takes over the helm in May, and I look forward to following from the sideline as he and our 32 000 people embark on their journey to change the game for aluminium, by pioneering the green aluminium transition. 

Happy International Women’s Day! Even though gender diversity is on our agenda every day of the year – the International Women’s Day is an opportunity to spend time to reflect on what we have achieved, what is left to achieve and what we need to do to ensure that our workplace is defined not only by equality, but by equity. This morning I had the pleasure of listening to a panel discussion moderated by Maiken Moe where Martine Rambøl Hagen, Espen Falla and Nina Schefte shared their thoughts on this important topic. I also had the opportunity to discuss on stage with Kari Ekelund Thørud and to share my thoughts on the importance of increasing the share of women in Hydro. In 2020 we set a target of 25% women and 25% women in leading positions in Hydro by 2025. Since then we’ve increased the overall share of women in Hydro from 18% to 23%, and the share of women in leading positions from 16% to 20%. In both areas we have made good progress, and I truly believe that setting these kinds of targets is important, because what gets measured gets done. Still, even when we reach our 2025 target, we need to remember that women account for 50% of the talent pool. We have set out on an ambitious strategic agenda, with a stated target of changing the game for the aluminium industry by pioneering the green aluminium transition, powered by renewable energy. To make this a reality we have to tap into the full potential of our organization, and we need to recruit the very best people to join us on this journey. We will not succeed in this ambition if we only recruit from half the talent-pool. This is why the International Women’s Day is so important. Because, it’s a reminder that we still have work to do, and that diversity, inclusion and belonging is not only the right thing to do, it’s also a critical component to succeed in our strategic objectives towards 2030.

“We should stop calling them hard-to-abate industries. They are abatable – this is within reach. It is possible!”  This was the message from U.S. Special Envoy for Climate, John Kerry at the ‘First Movers Coalition in Action’ event hosted by NHO and Yara International this morning.  It was inspiring to take part in the discussion on behalf of Norsk Hydro together with other Norwegian First Mover Coalition partners, to discuss the power of collaboration for making real changes in our hard-to-abate, or rather abatable industries.  The First Movers Coalition is a fantastic initiative aiming to create market demand for spearhead products and solutions essential to make hard-to-abate industries abatable.  More than 100 of the world’s most ambitious companies have joined the FMC since it’s launch two years ago. Together they represent a USD 16 billion demand signal in the market.  And this is important, because decarbonizing our economy will require significant investments throughout value chains. Hence, the First Movers, are incredibly important to signal to producers that there is reliable off-take available, justifying investing in low-carbon solutions.  At Hydro we joined the First Movers Coalition for aluminium last year, and announced the signing of a strategic partnership with Volvo Group where we will work together to support each other’s journeys towards zero emission value chains.  Just recently, Hydro was included in the First Supplier Hub as one of two companies in the world which can supply primary aluminium with a carbon-intensity below 3kg CO2 per kilo aluminium – more than 80% lower than the global average.  What really excites me about the FMC is that it connects the most ambitious buyers with the most ambitious suppliers.  Hydro has been in the low-carbon game for some time now, already supplying some of the most advanced customers with low carbon aluminium. Our experience is that as soon as these players start moving, their competitors tend to follow.  And for Hydro’s part, I hope we as well, get fierce competition. It’s not enough that we reach zero – if the rest of the industry doesn’t follow.  Ideally, as the market develops we need to elevate carbon content to the same level as cost and quality for our competitiveness. This will keep us all on our toes, incentivizing further investments and improvements to get us to the ultimate target: zero emissions.  At Hydro we aim to change the game for aluminium by pioneering the green aluminium transition.  I hope the rest of the industry joins us in the race towards zero.  

To accelerate the green transition, the way we produce materials must change. Very proud today to see Norsk Hydro incuded in the First Suppliers Hub as one of very few aluminium companies able to serve the market with low-carbon aluminium adhearing to the specifications of the First Movers Coalition. It matters where and how materials are produced, and that is why initiatives like the First Suppliers Hub are crucial to simplify the access to low-carbon technologies and materials needed to enable true decarbonization of society. #WEF2004

Transparency is a prerequisite for the green transition! For electric cars, buildings or windmills to ever be truly sustainable, they must be made from zero-emission materials. Producing materials comes with challenges, however; impacting nature, climate and social conditions. That is why stronger traceability and transparency about each material's footprint is crucial to accelerate change. From organic foods to tyre sizes, many industries have developed standardized certifications and reporting methods, but the metals industry is still at odds on calculating and disclosing the carbon footprint along the value chain and even how to calculate emissions from recycled aluminium scrap. This discrepancy can result in greenwashing, distorting market prices for truly greener products and contributing to a lack of transparency and misinformed consumers. To accelerate change and have incentives to minimize adverse impacts from production, reporting on production emissions should be mandatory for all. Transparency around recycled content and how to measure the carbon footprint is necessary to avoid greenwashing and drive a real circular, low-carbon economy. Full transparency on every material’s carbon footprint will be the necessary game changer for a successful green transition.

Back in Norway after an exciting and inspiring week in Dubai attending COP28, which was rounded off with a short trip to Qatar on my way home to visit our joint venture plant, Qatalum. Great to tour the plant and spend time with the management team and operators showcasing how well run the plant is, in addition to getting an update on Qatalum efforts to reduce their climate and environmental impact towards 2030.

Hydro is changing the game for aluminium! I was very proud this morning to present our groundbreaking HalZero technology at #COP28! And even more proud that our efforts were recognized by the COP28 UAE Presidency as an Energy Transition Changemaker for our efforts to decarbonize aluminium production! This award is a testament of great efforts throughout the Hydro organisation, and our research organisation in particular! Together we will pioneer the green aluminium transition!

We are your embedded emissions! Kicking off today with an inspiring discussion with Heidelberg Materials , SSAB and Miljøstiftelsen Bellona this morning on how to decarbonize the materials sector. Demand for materials like aluminium, steel and cement is growing to build the infrastructure needed for the green transition. But it matters where and how materials are produced, and all production comes with a footprint. Today, these materials represent roughly 1/4th of the world’s carbon footprint, and most of it is still produced using fossil fuels. To get to zero, we need to intensify the green transition of the materials sector. And we need to empower consumers to make climate conscious choices. Electric vehicles, modern energy efficient buildings and renewable power infrastructure only do half the job, unless the materials they are made from are decarbonized.

Partnership is the new leadership! I can’t think of any better way to kick off Hydro’s participation at #COP28 than to officially enter into a joint collaboration with one of the most ambitious and forward leading players in transport; Volvo Group . Today Martin Lundstedt and I signed a Joint Collaboration agreement where we will work together to enable Volvo Group to reach its 2040 target of delivering net zero vehicles. As partners in the First Movers Coalition, we both pledge to further support each other’s journeys towards zero emission value chains. We will work together to: Establish a roadmap towards supplying near zero aluminium ahead of 2030. Cooperating to enable greater use of low-carbon aluminium in Volvo's production towards supplying net zero aluminium in 2040. Validating new recycling standards for alloys, to optimize material reuse and exploring closed-loop value chains enabling more scrap to be utilized. Exploring how Volvo Group's innovative transport solutions can be used in Hydro's mining operations in Brazil to further reduce the carbon intensity of the aluminium value chains.