Norsk Hydro ASA is a Norwegian aluminium and renewable energy company headquartered in Oslo, recognized as one of the largest aluminium producers worldwide. Founded in 1905 initially for fertilizer pr... Norsk Hydro ASA is a Norwegian aluminium and renewable energy company headquartered in Oslo, recognized as one of the largest aluminium producers worldwide. Founded in 1905 initially for fertilizer production using hydroelectric power, it evolved into a global leader in the aluminium value chain, encompassing bauxite mining, alumina refining, primary aluminium smelting, extrusion, rolling, and recycling activities. The company operates through key segments including Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy, producing extruded profiles, rolled products, building systems, and precision tubing for sectors like construction, automotive, and energy. With approximately 33,000 employees across more than 40 countries, Norsk Hydro ASA maintains significant operations in Europe, the Americas, and Asia, including one of the world's largest bauxite mines and alumina refineries in Brazil. It is a major hydroelectric power producer in Norway and emphasizes sustainability through renewable energy integration and recyclable aluminium solutions. The Norwegian government holds a 34.3% stake, underscoring its strategic importance in global metals and mining markets.
In 2024, Norsk Hydro was subject to the Corporate Sustainability Reporting Directive (CSRD)'s requirements, which mandated the company to publish EU Taxonomy disclosures.
The company reported the eligibility and alignment of Turnover, Capital Expenditure (CAPEX) and Operating Expenditure (OPEX) with the EU Taxonomy, helping assess the extent to which its business activities align with Europe's environmental sustainability goals.
Norsk Hydro has also provided an activity-level breakdown of its EU Taxonomy disclosures. This granular reporting enhances transparency around which economic activities of Norsk Hydro are considered environmentally sustainable and contribute to at least one of the six environmental objectives defined under the EU Taxonomy framework.
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2023
2022
2021 - 2017
Total Taxonomy Aligned Turnover
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Total Taxonomy Eligible Turnover
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3.8 CCM/CCA - Manufacture of aluminium
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4.5 CCM/CCA - Electricity generation from hydropower
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Metric
2024
2023
2022
2021 - 2017
Total Taxonomy Aligned Opex
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Total Taxonomy Eligible Opex
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3.8 CCM/CCA - Manufacture of aluminium
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4.5 CCM/CCA - Electricity generation from hydropower
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c
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Metric
2024
2023
2022
2021 - 2017
Total Taxonomy Aligned Capex
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Total Taxonomy Eligible Capex
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3.10 CCM/CCA - Manufacture of hydrogen
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3.2 CCM/CCA - Manufacture of equipment for the production and use of hydrogen
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3.8 CCM/CCA - Manufacture of aluminium
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4.5 CCM/CCA - Electricity generation from hydropower
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Limited Data Preview
You are viewing a limited preview of Norsk Hydro’s EU Taxonomy dataset. The full dataset, available for download, includes eligibility and alignment metrics for turnover, CAPEX, and OPEX across all EU Taxonomy categories, at both aggregate and activity level, with historical coverage back to 2022.
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Verified Sources Behind Norsk Hydro’s EU Taxonomy Data
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a. Norsk Hydro's Annual Report 2024
b. Norsk Hydro's Annual Report 2023
c. Norsk Hydro's Annual Report 2022
Insights into Norsk Hydro's Revenues from Sustainable Activities
In 2024, Norsk Hydro reported EU Taxonomy-eligible revenues of NOK 100.44 billion, representing 49% of its total turnover. Of this amount, NOK 56.89 billion of Norsk Hydro's revenues was classified as EU Taxonomy-aligned, indicating that 28% of the revenue-generating activities undertaken by the company substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Norsk Hydro's Taxonomy-Eligible Turnover Over Time
Total Taxonomy Eligible Turnover
Total Taxonomy Aligned Turnover
Have Norsk Hydro's revenues become more sustainable over time?
Since 2022, Norsk Hydro's taxonomy-aligned revenues decreased by 3.45%, indicating a long-term decline in environmentally sustainable revenue performance.a, c
Compared to the previous year (2023), Norsk Hydro's taxonomy-aligned revenues decreased by 3.45%, suggesting that Norsk Hydro may have deprioritized sustainable activities, shifted focus away from green offerings, or reduced transparency in its EU Taxonomy reporting.a, b
How much of Norsk Hydro's revenue is eligible under the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 100.44 billion of its revenue was eligible under the EU Taxonomy, representing 49% of the company's total turnover. Of this amount, NOK 56.89 billion (28% of total revenue) was classified as Taxonomy-aligned. This means that 21% of Norsk Hydro's revenue is eligible but not aligned, indicating that these activities did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards.a
How much of Norsk Hydro's eligible revenue is aligned with the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 56.89 billion of its revenue was aligned under the EU Taxonomy, representing 28% of its total turnover.a
This moderate level of alignment indicates that Norsk Hydro has begun shifting toward more sustainable operations but still has considerable room to enhance its green offerings.
Norsk Hydro's Eligibility & Alignment Overview
Norsk Hydro's Contribution to Environmental Objectives
Total Taxonomy Aligned Turnover
How is Norsk Hydro's taxonomy-aligned revenue distributed across the EU environmental objectives?
In 2024, Norsk Hydro reported that its taxonomy-aligned revenue was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 28%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much revenue does Norsk Hydro earn from selling climate-related solutions ?
In 2024, Norsk Hydro reported that NOK 57.02 billion of its total revenue was associated with activities contributing to the EU taxonomy climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This accounted for 28% of the company's total revenue,indicating that Norsk Hydrohas a moderate focuson solutions that support climate action through its commercial activities.a
Insights into Norsk Hydro's CAPEX from Sustainable Activities
In 2024, Norsk Hydro reported EU Taxonomy-eligible CAPEX of NOK 6.38 billion,representing 42% of its total CAPEX. Of this amount, NOK 4.41 billion of Norsk Hydro's CAPEX was classified as EU Taxonomy-aligned, indicating that 30% of the company's investments were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Norsk Hydro's Taxonomy-Eligible Capex Over Time
Total Taxonomy Eligible Capex
Total Taxonomy Aligned Capex
Have Norsk Hydro's increased its investment in sustainable activities over time?
Since 2022, Norsk Hydro's taxonomy-aligned capital expenditure (CAPEX)increased by 20%,pointing to a long-term shift toward greater investment in environmentally sustainable activities recognized under the EU Taxonomy.a, c
Compared to the previous year (2023), Norsk Hydro's taxonomy-aligned CAPEX decreased by 14.29%,suggesting that Norsk Hydro may have scaled back investments in sustainable projects, reprioritized its capital deployment, or reduced transparency in its taxonomy-aligned disclosures.a, b
How much of Norsk Hydro's capital expenditure (CAPEX) is eligible under the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 6.38 billion of its capital expenditure (CAPEX) was eligible under the EU Taxonomy, representing 42% of the company's total CAPEX. Of this amount, NOK 4.41 billion (30% of total CAPEX) was classified as Taxonomy-aligned. This means that 12% of Norsk Hydro's CAPEX is eligible but not aligned, indicating that these investments either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of Norsk Hydro's eligible CAPEX is aligned with the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 4.41 billion of its CAPEX was aligned under the EU Taxonomy, representing 30% of its total capital investment.a
This moderate level of alignment indicates that Norsk Hydro is beginning to transition its capital allocation toward greener investments, but still retains substantial opportunities for further alignment with sustainability goals.
Norsk Hydro's Eligibility & Alignment Overview
Norsk Hydro's Contribution to Environmental Objectives
Total Taxonomy Aligned Capex
How is Norsk Hydro's taxonomy-aligned CAPEX distributed across the EU environmental objectives?
In 2024, Norsk Hydro reported that its taxonomy-aligned capital expenditure (CAPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 30%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much Norsk Hydro is investing in climate-related solutions?
In 2024, Norsk Hydro allocated NOK 4.52 billion of its CAPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 30% of the company's total capital expenditure,indicating that Norsk Hydrois moderately allocating capital toward climate-aligned initiatives, while maintaining a diversified investment portfolio.a
Insights into Norsk Hydro's OPEX from Sustainable Activities
In 2024, Norsk Hydro reported EU Taxonomy-eligible OPEX of NOK 2.87 billion,representing 29% of its total operating expenses (OPEX). Of this amount, NOK 2.00 billion of Norsk Hydro's OPEX was classified as EU Taxonomy-aligned, indicating that 20% of the company's operating expenses were directed toward economic activities that substantially contribute to one or more of the six environmental objectives, meet the Do No Significant Harm (DNSH) criteria, and comply with the Minimum Social Safeguards (MSS).a
Norsk Hydro's Taxonomy-Eligible Opex Over Time
Total Taxonomy Eligible Opex
Total Taxonomy Aligned Opex
Have Norsk Hydro's increased its spending in sustainable activities over time?
Since 2022, Norsk Hydro's taxonomy-aligned operating expenditure (OPEX)increased by 33.33%,pointing to a long-term trend of increased spending on environmentally sustainable operations and services recognized under the EU Taxonomy.a, c
Compared to the previous year (2023), Norsk Hydro's taxonomy-aligned OPEX increased by 17.65%,highlighting Norsk Hydro's growing commitment to funding sustainable operations or improving how such expenses are classified and reported under the EU Taxonomy.a, b
How much of Norsk Hydro's operational expenditure (OPEX) is eligible under the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 2.87 billion of its operational expenditure (OPEX) was eligible under the EU Taxonomy, representing 29% of the company's total OPEX. Of this amount, NOK 2.00 billion (20% of total OPEX) was classified as Taxonomy-aligned. This means that 9% of Norsk Hydro's OPEX is eligible but not aligned, indicating that these expenditures either did not meet the technical screening criteria, failed to comply with the Do No Significant Harm (DNSH) requirements, or lacked evidence of meeting the Minimum Safeguards (MSS).a
How much of Norsk Hydro's eligible OPEX is aligned with the EU Taxonomy?
In 2024, Norsk Hydro reported that NOK 2.00 billion of its OPEX was aligned under the EU Taxonomy, representing 20% of its total operational expenditure.a
This moderate level of alignment indicates that Norsk Hydro is beginning to shift operational priorities toward greener practices, with room for deeper integration.
Norsk Hydro's Eligibility & Alignment Overview
Norsk Hydro's Contribution to Environmental Objectives
Total Taxonomy Aligned Opex
How is Norsk Hydro's taxonomy-aligned OPEX distributed across the EU environmental objectives?
In 2024, Norsk Hydro reported that its taxonomy-aligned operational expenditure (OPEX) was distributed across the following EU environmental objectivesa:
Climate Change Mitigation: 20%
Climate Change Adaptation: 0%
Sustainable Use and Protection of Water and Marine Resources: 0%
Transition to a Circular Economy: 0%
Pollution Prevention and Control: 0%
Protection and restoration of biodiversity and ecosystems: 0%
How much of Norsk Hydro's operational budget supports climate-related solutions?
In 2024, Norsk Hydro allocated NOK 1.96 billion of its OPEX to activities contributing to the EU Taxonomy's climate-related objectives (Climate Change Mitigation and Climate Change Adaptation). This represented 20% of the company's total OPEX,indicating that Norsk Hydrois moderately integrating climate considerations into its ongoing operations, with potential to scale up climate-aligned spending.a
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