CEMEX’s Operations in Europe Announce a CO2 Reduction Target of at Least 55% By 2030
September 24 2020 - 6:00AM
Business Wire
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that
it is the first company in its sector to target a CO2 reduction in
its European operations of at least 55% by 2030. CEMEX welcomes the
recent commitment from European Commission President Ursula von der
Leyen’s landmark State of the Union address and is pleased to align
with the new European Union (“EU”) aspirations and targets.
CEMEX’s European operations expect to reach the target of a 35%
reduction in carbon emissions from cementitious materials by the
end of 2020, a decade ahead of CEMEX´s 2030 global commitment
outlined in its Climate Action strategy announced in February of
this year.
CEMEX is perfectly positioned in Europe to lead the construction
materials sector in cutting emissions following many years of
diligent carbon reduction and alignment with EU regulations and
environmental policies. CEMEX has driven the conversion away from
fossil fuels to alternative fuel sources in its factories, with
substitution rates now at 60% - significantly higher than the
European average of around 40%.
CEMEX has led the innovation in lower carbon products in Europe
by introducing the first carbon-neutral concrete, “Vertua®,” in the
United Kingdom and France. It will be gradually available in other
countries where CEMEX operates. CEMEX’s customers and investors
respect our passion for delivering a fundamental change in carbon
reduction, helping to ensure a carbon-neutral future for the next
generation.
“We welcome the clarification from the European Commission
President and are proud to be the first building materials company
to align with the commitment. We look forward to advancing
investment, research and development to decarbonize our
operations,” said Fernando A. Gonzalez, CEO of CEMEX. “Our European
business operates in an environment that has driven continuous
improvement, and as a result, by the end of this year, we expect to
have reduced our carbon emissions by 35% compared to the 1990
baseline. I am very proud of the resourcefulness and determination
of our team to hit this milestone in Europe ten years ahead of the
CEMEX global 2030 target.”
CEMEX is a global building materials company that provides
high-quality products and reliable services. CEMEX has a rich
history of improving the well-being of those it serves through
innovative building solutions, efficiency advancements, and efforts
to promote a sustainable future. For more information, please
visit: www.cemex.com
CEMEX assumes no obligation to update or correct the information
contained in this press release. CEMEX is not responsible for the
content of any third-party website or webpage referenced to or
accessible through 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. In some cases,
these statements can be identified by the use of forward-looking
words such as “may,” “assume,” “might,” “should,” “could,”
“continue,” “would,” “can,” “consider,” “anticipate,” “estimate,”
“expect,” “plan,” “believe,” “foresee,” “predict,” “potential.”
“target,” “strategy,” “intend” or other similar words. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200924005307/en/
Media Relations Jorge Perez +52 (81) 8888-4334
jorgeluis.perez@cemex.com Investor Relations Lucy
Rodriguez +1 (212) 317-6007 ir@cemex.com
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