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CEMEX Ambitious 2030 Climate Targets Validated to Be in Line With the Latest Science
Rhea-AI Impact
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Rhea-AI Summary
CEMEX, S.A.B. de C.V. (NYSE: CX) announced that its 2030 global carbon emissions targets have been validated by the Science Based Targets initiative (SBTi). These targets aim for a 40% reduction in net GHG direct emissions from a 1990 baseline and a 42% reduction in indirect electricity emissions by 2030. CEMEX's Future in Action program supports this goal, targeting below 475 kg CO2 emissions per ton of cement and increasing clean electricity consumption from 29% to 55% by 2030.
Positive
2030 global carbon emissions targets validated by SBTi.
CEMEX aims for a 40% reduction in net GHG direct emissions from 1990 baseline.
Commitment to reduce indirect electricity emissions by 42% by 2030.
Future in Action program includes ambitious climate action targets.
Increase in clean electricity consumption from 29% to 55% by 2030.
Negative
None.
The company’s emissions targets were approved by the Science Based Targets initiative under the most ambitious pathway currently available for the cement industry.
MONTERREY, Mexico--(BUSINESS WIRE)--
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:
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.
