Low-Carbon Aluminum for Premium Products
2024 Annual & Sustainability Report
Norðurál’s Annual and Sustainability Report for 2024 has been published. Norðurál is one of the largest industrial companies in the country, one of the largest employers and one of the largest buyers of Icelandic electricity. The core of Norðurál’s sustainability strategy aims to create economic value in a sustainable and responsible manner for the future, and to conduct our operations in a way that maximizes positive impact on society.
Together towards Sustainability
Norðurál is working on a collaborative project with the Student Council of the University of Iceland, and we encourage our local community and partners to participate. The project is called “Students Take Action” and its goal is to promote sustainability in Icelandic industry. Laufið is the project implementer and is a leader in developing software that helps companies incorporate sustainability into their daily operations through practical education and tools.
We are offering our partners, as well as all companies in Akranes and Hvalfjarðarsveit, a free two-month access to Laufið’s sustainability software.
Financial Statements
Norðurál’s share of Iceland’s total export value was 11.4% in 2024.
We produced 308,335 tons of aluminum, utilizing approximately 540 MW of electricity. The number of employees was 645.
You can review key figures and the annual report by clicking on the link below.
Social Responsibility
At Norðurál, there is a strong emphasis on respect for human rights, community, and the environment. Continuous efforts are made to minimize the environmental impacts of our operations and to use energy and raw materials efficiently. The safety, health, and well-being of our employees are prioritized. Emphasis is placed on equal rights for employees in terms of career advancement, salaries, and benefits, regardless of gender, sexual orientation, religion, or origin. We strive to have a positive impact on our entire value chain and emphasize that procurement is conducted with integrity and in accordance with the company’s values.
In Grundartangi since 1997
Norðurál in Grundartangi is among the largest aluminum plants in Europe, with an annual production of 317.000 tons and approximately 600 employees.
- 2014 Production increase prepared by increasing the power and production of alloy begins. Mercedes-Benz uses aluminum from Norðurál for their C-Class car that is made 50% of aluminum.
- 2015 Norðurál signs the Paris Climate Agreement and thereby commits to reduce greenhouse gas emissions and waste production.
- 2016 Separation of organic waste begins in the cafeteria where 110 thousand meals are served every year. Green parking lots established.
- 2017 Approximately 317.000 tons of aluminum and alloy are produced. Number of employees is 600.
- 2018 All togher! an extensive employee safety project launched that reminds us that safety depends on the cooperation of us all.
- 2019 Norðurál receives ASI certification, for environmentally friendly and responsible production, and Equal pay certification.
- 2020 We introduce Natur-Al ™, low-carbon aluminum with one of the lowest CO₂ footprints in the world.
- 2021 A sales contract for Natur-Al™ with the Austrian company HAI is signed. The first long-term contract for green aluminum, globally.
- 2022 Norðurál chosen The Environmental Company of the year by the Confederation of Icelandic Enterprise.
- 2023 Target for reducing greenhouse gas emissions, from sources outside the EU Emissions Trading System, by at least 40% is reached. We aim higher and set a goal for a 55% reduction by 2030.
- 2024 Production starts in a new billet casthouse.