Alcoa in Launch of USCAP Blueprint for Legislative Action, a Landmark Climate Protection Initiative

January 15, 2009

NEW YORK–As a founding member of the U.S. Climate Action Partnership (USCAP),
Alcoa (NYSE:AA) joined with other corporate and environmental
organizations today in launching the Blueprint for Legislative Action,
a climate protection initiative that includes policy recommendations for
developing legislation to address climate change. Building on its 2007 Call
to Action
, USCAP has now provided a framework for the Obama
Administration and 111th Congress to enact legislation that
both protect the environment and the economy. This includes reducing US
greenhouse gas emissions by 80% of 2005 levels by 2050 through a
mandatory economy-wide cap-and-trade program.

“This Blueprint provides detailed recommendations on confronting climate
change and reaffirms support for a national cap-and-trade program. In
these difficult economic times, these efforts to pursue green strategies
confirm our view at Alcoa that it is important to take action now both
to address the problem and give businesses greater clarity around
long-term investments. To avoid action will cost society even more
greatly in the future and leave business with greater uncertainty,” said
Alcoa Chairman Alain Belda.

The Blueprint for Legislative Action, which was developed through
two years of intensive analysis and consensus-building, includes an
aggressive emissions reduction schedule, describes the scope of coverage
for the cap-and-trade program, and details specific complementary
measures to help maintain the competitiveness of U.S. businesses,
facilitate technology transformation for improved energy efficiency,
transportation, coal fueled power plants and buildings and provides for
cost containment measures such as offsets and principles for
international engagement. Support for research and early deployment of
new technologies will be critical to USCAP’s envisaged comprehensive
climate program.

“This USCAP Blueprint for U.S. climate legislation provides a
pathway which would help businesses like Alcoa achieve progressive
climate protection goals, while delivering on our commitment to
shareholders to compete and grow,” said Alcoa President and CEO Klaus

USCAP is a coalition of 32 leading corporations and environmental
organizations that supports federal cap-and-trade legislation to address
climate change. To learn more about the USCAP Blueprint for
Legislative Action,

About Alcoa

Alcoa is the world leader in the production and management of primary
aluminum, fabricated aluminum and alumina combined, through its active
and growing participation in all major aspects of the industry. Alcoa
serves the aerospace, automotive, packaging, building and construction,
commercial transportation and industrial markets, bringing design,
engineering, production and other capabilities of Alcoa’s businesses to
customers. In addition to aluminum products and components including
flat-rolled products, hard alloy extrusions, and forgings, Alcoa also
markets Alcoa® wheels, fastening systems, precision and investment
castings, and building systems. The Company has been named one of the
top most sustainable corporations in the world at the World Economic
Forum in Davos, Switzerland and has been a member of the Dow Jones
Sustainability Index for seven consecutive years. More information can
be found at