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Cemex Takes Action to Reduce Road Transportation CO2 Emissions
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
CEMEX has announced the addition of nearly 200 natural gas-powered trucks to its fleet, part of its commitment to decarbonize and achieve net-zero emissions by 2050. This initiative, under the Future in Action program, will replace diesel trucks, reducing carbon emissions by approximately 25%. The trucks are predominantly located in Mexico, with some in Southern California and Colombia. CEMEX aims to lower transport carbon emissions by 20% by 2030, and is collaborating with partners on innovative zero-emission technologies.
Positive
CEMEX is replacing 200 diesel trucks with lower-carbon natural gas-powered vehicles, reducing carbon emissions by ~25%.
The initiative supports CEMEX's goal to achieve net-zero CO2 emissions by 2050.
CEMEX aims to reduce transport carbon emissions by 20% by 2030 as part of its broader sustainability strategy.
Negative
None.
CEMEX is replacing 200 diesel-powered trucks with gas-powered trucks in the Americas.
Net-zero emission transport is being piloted in several geographies.
MONTERREY, Mexico--(BUSINESS WIRE)--
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has added nearly 200 lower-carbon natural gas-powered trucks as part of a comprehensive strategy seeking to decarbonize its global fleet. This initiative is part of the company’s flagship Future in Action program to become a net-zero CO2 company by 2050.
The investment in these 200 new vehicles consist mostly of concrete mixer trucks powered by low emission compressed natural gas (CNG) or renewable natural gas (RNG). These trucks will have a carbon footprint that is approximately 25% lower than the diesel trucks they are replacing. Over half of the vehicles are in Mexico, with the remaining half split between Southern California in the U.S. and Colombia.
“Decarbonizing our global fleet requires a multi-pronged approach built on innovation,” said Juan Romero, CEMEX Executive Vice President of Sustainability, Commercial and Operations Development. “Our strategy combines taking immediate action to reduce our carbon footprint with currently available state-of-the-art technology, while at the same time collaborating with our partners to discover, pilot, and scale the solutions needed to achieve net-zero.”
Overall, CEMEX has an ambitious 2030 Scope 3 goal to reduce transport carbon emissions by 20% and is committed to reaching overall net-zero emissions by 2050. Scope 3 emissions are indirect emissions, including those from upstream and downstream transportation and distribution.
Natural gas-powered trucks are a transitional technology that will permit an immediate reduction of carbon emissions. Natural gas, biodiesel and hybrid power are the most readily available lower-carbon transition technologies.
CEMEX is a founding member of the First Movers Coalition, which brings together business leaders with global footprints to create market demand for zero carbon solutions in this decade and jump-start the scaling of these emerging technologies. The company committed to making approximately 30% of its heavy-duty transport purchases zero-emissions by 2030. To that end, CEMEX has completed a multi-country pilot using fully electric ready-mix concrete trucks. Fully electric heavy-duty trucks are not yet available at scale, but CEMEX is collaborating with several original equipment manufacturers on new transportation technology that will enable a net-zero emissions future. CEMEX expects to gradually continue introducing and testing new prototypes for zero-emission ready-mix concrete trucks to its fleet.
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
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.
