Alcoa Corporation (AA) Morgan Stanley 11th Annual Laguna Conference (Transcript)

Alcoa Corporation (NYSE:AA) Morgan Stanley 11th Annual Laguna Conference September 12, 2023 3:50 PM ET

Company Participants

Molly Beerman - EVP & CFO

Unidentified Analyst

Hello. Welcome, and good afternoon. I would like to introduce Molly Beerman, the Executive Vice President and CFO of Alcoa for our fireside chat today. And I believe you have some opening remarks, you'd like to start with.

Molly Beerman

Yes. Thank you, Tommy. Thanks to everyone attending here in person and listening in on the web. This is my first Morgan Stanley Conference in Laguna and now I can see why my predecessor was such a big fan.

Let me open with a few comments about Alcoa and our environment just to set the stage for the discussion. Alcoa has a proud history dating back over 135 years in Charles Martin Hall invented the first commercially viable means of making aluminum and effectively kicked off the modern aluminum industry and founded Alcoa. We quickly moved into mining, refining and producing aluminum.

We now have the -- we're one of the world's largest bauxite miners. We have the longest alumina position outside of China and we have our aluminum smelters located close to the major markets. We're a commodity company, and we recognize that we need to produce a high-quality product at a low cost. Increasingly, our business is subject to ESG considerations and we believe that Alcoa is well positioned on the sustainability forefront for three primary reasons.

First, the way we make our products. Our sites are the majority are ASI certified, the aluminum stewardship initiatives. We have products across the -- sorry. We have the largest and most carbon-efficient refineries. We're proud of the way we mine bauxite and our rehabilitation practices and our aluminum smelters are running at 86% renewable energy. Our Scope 1 and 2 emissions for the company as