CEMEX announces ambitious strategy to address climate change
February 19, 2020
- CEMEX increases its 2030 target for reducing CO2 emissions to 35% from 30%
- CEMEX establishes a new ambition to deliver net-zero CO2 concrete by 2050
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today a new Climate Action strategy, which outlines the company´s vision to advance towards a carbon-neutral economy and to address society’s increasing demands more efficiently. In CEMEX, we believe that climate change is one of the biggest challenges of our time and support the urgency of collective action.
As a result of our efforts to date, we have reduced our net specific CO2 emissions by more than 22% compared to our 1990 baseline. But we acknowledge that this is not enough. This is why we have defined a more ambitious target of a 35% reduction of net specific CO2 emissions by 2030. This new goal is aligned with the Science-Based Targets methodology, a requirement climate science says is necessary to meet the goals of the Paris Agreement.
To complement this strategy with a longer-term vision, CEMEX is also establishing a new ambition to deliver net-zero CO2 concrete by 2050. In our business, we believe concrete—our end product—has a key role to play in the transition to a carbon-neutral economy, and is an essential component in the development of climate-smart urban projects, sustainable buildings, and resilient infrastructure.
“Climate change has been a priority for CEMEX for many years. Our efforts have brought significant progress to date, but we must do more. This is why we have defined a more ambitious strategy to reduce CO2 emissions by 2030 and to deliver net-zero CO2 concrete by 2050,” said Fernando A. Gonzalez, CEO of CEMEX.
To fulfill this strategy, we have a detailed CO2 roadmap to accelerate the roll-out of proven technologies in all of our facilities, including investing in energy efficiency, using alternative fuels, expanding the use of renewable energy, and increasing the substitution of clinker with alternative cementitious materials.
Furthermore, our new net-zero CO2 concrete aspiration for 2050 sets us on a path of open innovation that requires strategic partnerships and cross-industry collaboration in the development of breakthrough technologies like carbon capture, utilization, and storage; novel clinkers with low heat consumption, alternative decarbonated raw materials, carbonation of concrete waste for use as recycled aggregates, and the promotion of circular economy models that transform waste into fuel. CEMEX currently consumes as either alternative fuel or alternative raw material 32 times more waste from other industries than the waste it generates and sends to landfill.
For more information on the company’s new Climate Action strategy, please visit: www.cemex.com/climate-action
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
This press release contain 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.