CDP raises CEMEX rating for leadership on climate change transparency and action
January 28, 2020
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that CDP (formerly Carbon Disclosure Project) raised its rating of CEMEX from B in 2018 to A- in 2019 for the company’s commitment to climate protection. The rating upgrade reflects CEMEX’s improvement in governance, risk management, CO2 emissions reduction initiatives, low carbon products, and value chain engagement.
"We are very pleased not only that our CDP score has improved, but also that it reflects our company’s continued effort to achieve a robust climate change strategy, which is helping us to reduce our operations’ CO2 footprint. So far, we have reduced our net specific emissions per ton of cementitious product by more than 22% when compared to our 1990 baseline, putting us on track to accomplish our ambitious science-based targets for 2030,” said Vicente Saiso, Corporate Sustainability Director of CEMEX.
To date, CEMEX has reduced its direct CO2 emissions per ton of cementitious product by more than 22% compared to its 1990 baseline, allowing the company to avoid approximately 8 million tons of CO2 during 2019, equivalent to the carbon emissions of 1.6 million passenger vehicles.
CEMEX is taking the following steps to further reduce its direct CO2 emissions:
- Producing new types of low CO2 clinker, cement, and concrete products
- Increasing our use of alternative fuels as a substitute for fossil fuels
- Using waste from other industries as alternative raw materials as a substitute for clinker
- Expanding and protecting natural carbon sinks from our El Carmen Nature Reserve to all of our quarries
- Developing and testing disruptive technologies like carbon capture, utilization, and storage (CCUS) and other innovative carbon technologies
CEMEX is also determined to reduce indirect CO2 emissions from electricity through the company’s use of renewable energy. Close to 30% of CEMEX’s power consumption is covered by renewable energy sources, the highest rate among global cement companies.
CDP is a not-for-profit international organization that runs the global disclosure system for investors, companies, cities, states, and regions to manage their environmental impacts. Over the past 15 years, CDP has created a system that has resulted in unparalleled engagement on environmental issues worldwide. For more information, please visit: www.cdp.net
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.