CEMEX 2050 net-zero roadmap validated by SBTi - CEMEX 2050 net-zero roadmap validated by SBTi
December 8, 2022
- CEMEX commits to reach net-zero CO2 emissions1 across the value chain by 2050 from a 2020 base year.
- CEMEX is among the first companies in the cement industry to validate its full net-zero CO2 roadmap with the SBTi.
- Validation includes alignment of CEMEX’s 2030 targets with the SBTi’s 1.5ºC scenario, the most ambitious available to the industry.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has validated its 2050 net-zero CO2 target through the Science Based Targets initiative (SBTi), becoming one of the first companies in the industry to do so. The validation accounts for CEMEX’s short-term 2030 targets, previously validated by the SBTi for alignment with their 1.5ºC scenario, and long-term targets along its entire value chain.
CEMEX’s alignment of its roadmap to SBTi’s Net-Zero Standard reflects its confidence that it is on the right path to net-zero and to 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 emissions produced by their own processes (scope 1), consumed electricity (scope 2), and generated by a company’s suppliers and end-users (scope 3).
“The construction industry is essential to the development and wellbeing of society, and its transition to carbon neutrality is achievable,” said Fernando A. González, CEO of CEMEX. “The SBTi’s validation of our decarbonization target attests to this as well as the strength of our commitment to achieve the most aggressive CO2 reduction goals.”
The SBTi is a partnership between the CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature, and one of the most recognized bodies for scientific evaluation of corporate decarbonization roadmaps.
CEMEX, the largest concrete producer in the western world, and a global leader in cement production, launched its Future in Action program in March of 2020 to build a more sustainable, circular future, with the primary objective of becoming a net-zero CO2 company. Since the launch of Future in Action, the company has achieved record-breaking CO2 reductions. Innovation is a key component of the program, especially in the carbon capture, utilization, and storage (CCUS) technology space.
CCUS can be the final step to reaching net-zero CO2 after current levers, which rely on existing and proven technologies, are maximized to their fullest potential. CEMEX is currently running several CCUS innovation projects that aim to accelerate the creation of new technologies and to enable the implementation of current ones at an industrial scale. In total, CEMEX’s current portfolio of CCUS projects has the potential to avoid more than 3 million tons of carbon emissions a year. CEMEX’s CCUS roadmap is part of the SBTI’s validation.
To learn more about CEMEX’s pathway to net zero and its ambitious intermediate and long-term targets, please visit https://www.cemex.com/en/sustainability/future-in-action/by-the-numbers
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
1. CO2 equivalent emissions including all Greenhouse Gasses across the value chain.
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.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta