CEMEX to Align Its Decarbonization Goals With Most Ambitious 1.5º C Scenario
October 06 2022 - 7:30AM
Business Wire
- CEMEX commits to the most ambitious decarbonization pathway in
the building materials industry.
- CEMEX has submitted its Future in Action commitment to reach
net-zero CO2 by 2050 across its entire value chain and its 2030
decarbonization roadmap to the Science Based Targets initiative for
alignment with its 1.5º scenario.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it is
working with the Science-Based Targets initiative (SBTi) to
validate its 2050 net-zero CO2 roadmap and its 2030 decarbonization
goals to align with their recently announced 1.5º C scenario. With
this, CEMEX is committed to having the most ambitious
decarbonization pathway in the building materials industry.
CEMEX’s previous goals were aligned to the Well-Below 2ºC
scenario. After helping develop the new 1.5º framework as a member
of the SBTi’s Expert Advisory Group, CEMEX has now aligned its
Future in Action goals to the new standard and submitted them for
review by the SBTi and encourages others within the industry to do
the same. As part of this verification process, CEMEX will also
establish 2030 and 2050 targets for its main scope 3 emissions.
“Mitigating climate change and decarbonizing the construction
industry is our top priority,” says Fernando A. González, CEO of
CEMEX. “The record-breaking CO2 reduction we achieved through
Future in Action in the past 18 months gives us confidence that a
more accelerated pathway for 2030 is possible. We are keenly aware
of the role that our industry must play in the race to zero and are
committed to continue leading in this challenge.”
CEMEX has also submitted its long-term net-zero roadmap to the
SBTi for validation. The company’s intention to align its roadmap
to SBTi’s Net-Zero Standard reflects its confidence that it is on
the right path to net-zero and contribute meaningfully to the
world’s 2050 goal. One of the key requirements to reach the SBTi’s
Net-Zero Standard is aggressive carbon reductions across a
company’s entire value chain, including those produced by their own
processes (scope 1), purchased electricity and heat (scope 2), and
generated by a company’s suppliers and end-users (scope 3).
Innovation is at the core of CEMEX’s Future in Action program,
exemplified by Vertua, its family of products with sustainability
attributes that includes lower-carbon cements and the first
net-zero CO2 concrete. Vertua has seen excellent market adoption,
so much so that CEMEX expects that Vertua lower-carbon products
should account for most of its sales by 2025. Through Vertua, CEMEX
is helping its customers to help building a better, more
sustainable future.
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
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, uncertainties, and assumptions that could cause
actual results to differ materially from CEMEX’s expectations,
including, among others, risks, uncertainties, and assumptions
discussed in CEMEX's most recent annual report and detailed from
time to time in CEMEX’s other filings with the Securities and
Exchange Commission, which factors are incorporated herein by
reference, which if materialized could ultimately lead to CEMEX not
reaching the goals stated in this press release. These factors may
be revised or supplemented, but CEMEX is not under, and expressly
disclaims, any obligation to update or correct this press release
or any forward-looking statement contained herein, whether as a
result of new information, future events or otherwise. Any or all
of CEMEX’s forward-looking statements may turn out to be
inaccurate. Accordingly, undue reliance on forward-looking
statements should not be placed, as such forward-looking statements
speak only as of the dates on which they are made. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20221006005410/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
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