CEMEX Joins Two World-Leading Initiatives to Achieve Carbon Neutrality

Rhea-AI Summary

CEMEX (NYSE: CX) has officially joined the Business Ambition for 1.5°C commitment by the We Mean Business Coalition and the UN Global Compact, as part of The Race to Zero Campaign. This commitment aligns with CEMEX's goal to achieve carbon neutrality by 2050 through its Future in Action program. The company aims to limit its CO₂ emissions to below 475 Kg per ton of cementitious product by 2030. CEO Fernando A. González emphasized the importance of collaborative climate solutions and encouraged other organizations to participate in these efforts.

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• CEMEX is committed to achieving carbon neutrality by 2050 through the Business Ambition for 1.5°C initiative.
• The company aims to reduce CO₂ emissions to below 475 Kg per ton of cementitious product by 2030.
• CEMEX participates in global initiatives demonstrating strong corporate responsibility and sustainability efforts.

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• None.

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has signed the Business Ambition for 1.5°C commitment led by the We Mean Business Coalition in partnership with the Science Based Targets initiative and the U.N. Global Compact. With this commitment the company has joined The Race to Zero Campaign of the UNFCCC. The decision to join these two major global alliances reflects the company’s strong commitment to climate action.

The Race to Zero Campaign was launched to mobilize net-zero commitments from cities, businesses, and investors ahead of the 26th U.N. Climate Change Conference of the Parties in November 2021 (“COP26”.) All members of the Coalition pledge to reach net-zero emissions by mid-century at the latest, in line with global efforts in limiting global warming to 1.5°C. These objectives align with the CEMEX Future in Action program to reduce its carbon footprint by delivering net-zero concrete globally by 2050.

“In the road leading up to the COP26, I am delighted to announce that we have signed the Business Ambition for 1.5°C and joined The Race to Zero Campaign. CEMEX’s commitment to Climate Action runs deeps, and we are excited to partner with prominent global organizations to deliver on this challenge. Implementing climate solutions require active collaboration between industry, governments, non-governmental organizations, and multilateral agencies, and we intend to continue to play an active role in these efforts. We encourage others to join us in this important challenge,” said Fernando A. González, CEO of CEMEX.

In addition, CEMEX submitted its new 2030 target of below 475 Kg CO₂ per ton of cementitious product for validation to the Science-Based Targets initiative as part of its commitment to fulfill its ambition of carbon neutrality by 2050.

CEMEX 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

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005234/en/

FAQ

What is CEMEX's commitment to climate action?

CEMEX has committed to the Business Ambition for 1.5°C and joined The Race to Zero Campaign, aiming for carbon neutrality by 2050.

What target has CEMEX set for CO2 emissions by 2030?

CEMEX aims to limit its CO2 emissions to below 475 Kg per ton of cementitious product by 2030.

What does the Race to Zero Campaign entail for CEMEX?

The Race to Zero Campaign mobilizes businesses to commit to net-zero emissions by mid-century, aligning with CEMEX's sustainability goals.

Who leads the Business Ambition for 1.5°C commitment?

The Business Ambition for 1.5°C commitment is led by the We Mean Business Coalition, in partnership with the Science Based Targets initiative and the UN Global Compact.