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CEMEX to Align Its Decarbonization Goals With Most Ambitious 1.5º C Scenario
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
CEMEX has announced a commitment to achieve net-zero CO2 emissions by 2050, submitting its Future in Action roadmap to the Science Based Targets initiative for validation. The company aims to align with a more ambitious 1.5º C scenario, moving beyond its previous 2º C goals. CEMEX plans to establish targets for scope 3 emissions and promote its Vertua product line, which includes lower-carbon solutions. The firm emphasizes innovation and sustainability as key components of its strategy in the construction materials industry.
Positive
Commitment to net-zero CO2 by 2050, aligning with the 1.5º C scenario enhances CEMEX's market position.
Successful market adoption of the Vertua product line, expected to drive sales growth by 2025.
Negative
None.
CEMEX commits to the most ambitious decarbonization pathway in the building materials industry.
CEMEX has submitted its Future in Action commitment to reach net-zero CO2 by 2050 across its entire value chain and its 2030 decarbonization roadmap to the Science Based Targets initiative for alignment with its 1.5º scenario.
MONTERREY, Mexico--(BUSINESS WIRE)--
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it is working with the Science-Based Targets initiative (SBTi) to validate its 2050 net-zero CO2 roadmap and its 2030 decarbonization goals to align with their recently announced 1.5º C scenario. With this, CEMEX is committed to having the most ambitious decarbonization pathway in the building materials industry.
CEMEX’s previous goals were aligned to the Well-Below 2ºC scenario. After helping develop the new 1.5º framework as a member of the SBTi’s Expert Advisory Group, CEMEX has now aligned its Future in Action goals to the new standard and submitted them for review by the SBTi and encourages others within the industry to do the same. As part of this verification process, CEMEX will also establish 2030 and 2050 targets for its main scope 3 emissions.
“Mitigating climate change and decarbonizing the construction industry is our top priority,” says Fernando A. González, CEO of CEMEX. “The record-breaking CO2 reduction we achieved through Future in Action in the past 18 months gives us confidence that a more accelerated pathway for 2030 is possible. We are keenly aware of the role that our industry must play in the race to zero and are committed to continue leading in this challenge.”
CEMEX has also submitted its long-term net-zero roadmap to the SBTi for validation. The company’s intention to align its roadmap to SBTi’s Net-Zero Standard reflects its confidence that it is on the right path to net-zero and contribute meaningfully to the world’s 2050 goal. One of the key requirements to reach the SBTi’s Net-Zero Standard is aggressive carbon reductions across a company’s entire value chain, including those produced by their own processes (scope 1), purchased electricity and heat (scope 2), and generated by a company’s suppliers and end-users (scope 3).
Innovation is at the core of CEMEX’s Future in Action program, exemplified by Vertua, its family of products with sustainability attributes that includes lower-carbon cements and the first net-zero CO2 concrete. Vertua has seen excellent market adoption, so much so that CEMEX expects that Vertua lower-carbon products should account for most of its sales by 2025. Through Vertua, CEMEX is helping its customers to help building a better, more sustainable future.
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
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, uncertainties, and assumptions that could cause actual results to differ materially from CEMEX’s expectations, including, among others, risks, uncertainties, and assumptions discussed in CEMEX's most recent annual report and detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, which if materialized could ultimately lead to CEMEX not reaching the goals stated in this press release. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. 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.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta +1 (212) 317-6011
+52 (81) 8888-4327
ir@cemex.com
Source: CEMEX, S.A.B. de C.V.
FAQ
What is CEMEX's commitment to decarbonization?
CEMEX commits to achieving net-zero CO2 emissions by 2050 and has submitted its decarbonization roadmap to the Science Based Targets initiative.
What are the main goals outlined by CEMEX for 2030?
CEMEX aims to establish specific targets for its scope 3 emissions as part of its 2030 decarbonization roadmap.
How is CEMEX's Vertua product line performing?
The Vertua product line, which includes lower-carbon cements and net-zero CO2 concrete, is seeing strong market adoption and is expected to be a major part of sales by 2025.
When did CEMEX announce its new decarbonization goals?
CEMEX announced its new decarbonization goals and commitment on the date of the press release.
What does CEMEX mean by Future in Action?
Future in Action is CEMEX's program focused on sustainability and innovation, aimed at reducing carbon emissions in the construction materials industry.
