CEMEX Ambitious 2030 Climate Targets Validated to Be in Line With the Latest Science
October 05 2021 - 7:30AM
Business Wire
- The company’s emissions targets were approved by the Science
Based Targets initiative under the most ambitious pathway currently
available for the cement industry.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that the Science
Based Targets initiative (“SBTi”) has validated the company’s 2030
global carbon emissions targets, which are a key component of
Future in Action, CEMEX´s program focused on developing low-carbon
products, solutions, and processes to transition to a net-zero CO2
company by 2050.
According to SBTi, the foremost authority on science-based
climate action goals, CEMEX’s targets are in conformance with its
criteria and recommendations to approve companies´ targets and in
line with what the climate science deems necessary to meet the
goals of the Paris Agreement – limiting global warming to
well-below 2°C above pre-industrial levels and pursuing efforts to
limit warming to 1.5°C.
CEMEX has the most ambitious 2030 targets for the cement
industry, a reduction of the net GHG direct emissions of 40% vs. a
1990 baseline, meaning an expected reduction in direct (Scope 1)
greenhouse gas (“GHG”) emissions of 20% per ton of cementitious
material by 2030 from a 2020 base year. CEMEX has also committed to
reduce its indirect electricity GHG emissions (scope 2) by 42% by
2030 from a 2020 base year.
“Climate action is the biggest challenge of our times. CEMEX is
taking decisive action to address it by defining ambitious
emissions reduction targets in line with the Science Based Targets
initiative and executing against those targets,” said Fernando A.
Gonzalez, CEO of CEMEX. “We commit to continue leading the industry
in climate action not only because it creates value, but more
importantly because it is the right thing to do. CEMEX is building
a better future, and that future must be sustainable.”
Under its Future in Action program, CEMEX announced a climate
action target of below 475 kg CO2, a >40% reduction in CO2
emissions by 2030. The company´s clean electricity consumption will
also increase from the current 29% in 2020 to 55% by 2030. This
goals also align with the well-below 2°C scenario and enable the
company to also reaffirm its 2050 goal of being net-zero carbon in
concrete.
For more information on the SBTi´s validation, please visit:
https://sciencebasedtargets.org/companies-taking-action
CEMEX (NYSE: CX) is a global construction materials company that
is building a better future through sustainable products and
solutions. CEMEX is committed to achieving carbon neutrality
through relentless innovation and industry-leading research and
development. CEMEX is at the forefront of the circular economy in
the construction value chain and is pioneering ways to increase the
use of waste and residues as alternative raw materials and fuels in
its operations with the use of new technologies. CEMEX offers
cement, ready-mix concrete, aggregates, and urbanization solutions
in growing markets around the world, powered by a multinational
workforce focused on providing a superior customer experience,
enabled by digital technologies. For more information, please
visit: cemex.com
Percentage variations related to kilograms of CO2 emissions per
ton of cementitious materials or cubic meters of concrete are
compared to the company´s 1990 baseline.
CEMEX assumes no obligation to update or correct the information
contained in this press release. This press release contains
forward-looking statements within the meaning of the U.S. federal
securities laws. CEMEX intends these forward-looking statements to
be covered by the safe harbor provisions for forward-looking
statements in the U.S. federal securities laws. These
forward-looking statements reflect CEMEX’s current expectations and
projections about future events based on CEMEX’s knowledge of
present facts and circumstances and assumptions about future
events, as well as CEMEX’s current plans based on such facts and
circumstances. These statements necessarily involve risks and
uncertainties that could cause actual results to differ materially
from CEMEX’s expectations. The content of this press release is for
informational purposes only, and you should not construe any such
information or other material as legal, tax, investment, financial,
or other advice. CEMEX is not responsible for the content of any
third-party website or webpage referenced to or accessible through
this press release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211005005465/en/
Media Relations Jorge Pérez +52 (81) 8259-6666
jorgeluis.perez@cemex.com
Analyst and Investor Relations Alfredo Garza / Fabián
Orta +1 (212) 317-6011 +52 (81) 8888-4327 ir@cemex.com
Cemex SaB De Cv (NYSE:CX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cemex SaB De Cv (NYSE:CX)
Historical Stock Chart
From Apr 2023 to Apr 2024