Cemex S.A.B. de C.V. - CX STOCK NEWS

CEMEX has joined the First Movers Coalition, a new initiative launched at COP26 that includes over two dozen global companies aiming to accelerate decarbonization technologies through combined purchasing power. This coalition, formed in partnership with the World Economic Forum, will target sectors responsible for more than a third of global carbon emissions. CEMEX's commitment includes aggressive 2030 decarbonization goals, aiming for net zero CO₂ concrete by 2050, leveraging partnerships with firms like Volvo and BP.

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.

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.

CEMEX has recognized female leadership through the Mujer Construrama event, underscoring its commitment to gender equality. This year, 320 women from its Construrama network participated in virtual workshops and conferences designed for their professional growth. Notably, women lead about 30% of Construrama's 2,100 stores. CEMEX is a signatory of the UN Women's Empowerment Principles, promoting equality in various sectors. With a focus on sustainable practices and enhanced services, CEMEX continues to support the development of women in the construction industry.

CEMEX (NYSE: CX) has joined the LEILAC 2 project, a research initiative funded by the EU to decarbonize cement production. Following its active role in LEILAC 1, CEMEX contributes expertise and resources to develop technology that captures process CO₂, which comprises about 60% of cement's direct emissions. The company aims for a 35% reduction in CO₂ emissions per ton by 2030 and a net-zero target by 2050.

Davide Zampini, Head of Global R&D, emphasizes their commitment to impactful technologies in carbon capture.

CEMEX (NYSE: CX) is enhancing its supply chain to address cement shortages in California, Arizona, and Nevada by recommissioning a kiln at its CPN plant in Hermosillo, Mexico. This $15 million investment will increase annual production capacity by 1 million tons and create over 130 jobs. The initiative aims to support local customers facing supply constraints, ensuring reliable access to Portland cement. The kiln is expected to be operational by Q2 2021, alongside increased efficiencies at the Victorville plant, to meet the growing construction demands in the region.