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CEMEX Reinforces Leadership in Green Financing, Presenting Sustainability-Linked Financing Framework
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The company launches the most comprehensive Sustainability-Linked Financing Framework in its sector.
The Framework establishes CEMEX’s guiding principles when issuing new sustainability-linked financing instruments.
This launch follows the successful debut of its US$3.2 billion Sustainability-Linked Loan in October 2020.
MONTERREY, Mexico--(BUSINESS WIRE)--
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today the launch of the most comprehensive Sustainability-Linked Financing Framework (the “Framework”) in the building materials sector.
CEMEX has a steadfast commitment to be a leader in climate action and provide low-carbon and net-zero CO2 products. The Framework further aligns CEMEX’s corporate sustainability commitments to its financing strategy, as part of its Future in Action program.
The Framework establishes CEMEX’s guiding principles when issuing new sustainability-linked financing instruments, including public bonds, private placements, loans, derivatives, working capital solutions, and other financing instruments.
Sustainalytics, a leading independent firm that specializes in providing ESG research, ratings, and data to institutional investors and companies, validated the Framework’s alignment with the Sustainability-Linked Bond Principles, the International Capital Market Association’s Climate Transition Finance Handbook, and the Loan Market Association’s Sustainability-Linked Loan Principles.
“Climate change is one of the biggest challenges of our time, and we will continue to address it as a fundamental component of our business strategy,” said Maher Al-Haffar, CEMEX's Chief Financial Officer. “CEMEX is committed to increasing the role sustainable finance plays in its capital structure by potentially linking the cost of financial instruments to the achievement of targets, directly aligning our corporate finance strategy to sustainability commitments and further contributing to a low-carbon future.”
CEMEX has taken a bold step by including three KPIs, an unusually high number for the building materials industry, in the Framework. This decision reflects the confidence and commitment the company has regarding its Climate Action targets. Selected KPIs are net CO2 emissions per ton of cementitious product, clean electricity consumption and alternative fuels rate. All of them were qualified by Sustainalytics as relevant, material, ambitious, and aligned with the company’s climate action strategy.
The three indicators are directly contributing to the achievement of the UN Sustainable Development Goals and for each one CEMEX has established 2025 and 2030 Sustainability Performance Targets (SPTs). KPI performance and corresponding SPTs will be verified by qualified external parties and be made available through CEMEX’s annual Integrated Report.
CEMEX’s 2030 target of reaching below 475 kg CO2 per ton of cementitious product is aligned with the Science-Based Targets initiative’s (SBTi) “Well Below 2°C Scenario”, the most ambitious for the cement industry. This target is currently in the process of validation. Furthermore, the company has set a 2050 goal of delivering net-zero concrete globally, aligned with the Paris Agreement.
Moreover, CEMEX recently announced that it has signed the Business Ambition for 1.5°C commitment led by the We Mean Business Coalition in partnership with the SBTi and the UN Global Compact. The company also joined The Race to Zero Campaign of the UN Framework Convention on Climate Change.
The CEMEX Sustainability-Linked Financing Framework is available at the following link:
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.
