Global construction and buildings materials company CEMEX announced today that it has joined climate focused initiatives Business Ambition for 1.5°C and The Race to Zero Campaign. The company also announced that it has set a new low carbon target for cementitious material, submitted to the Science Based Targets initiative (SBTi) for validation.
Building materials companies are coming increasingly in focus in the fight against climate change, due to the carbon intensity of their primary products. Cement production accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of CO2 emissions generated for every 1000 kg of material produced. For its new target, CEMEX aims to reach below 475 Kg CO2 per ton of cementitious product by 2030.
The new goals and memberships add to CEMEX’s climate commitments, launched last year, including a goal to deliver net zero concrete by 2050.
The process of setting science-based targets through SBTi enables companies to determine the necessary emissions reductions necessary for their businesses to align with the Paris Agreement goal of limiting warming to 1.5°C, preventing the worst impacts of climate change. Business Ambition for 1.5°C is a campaign led by SBTi, in partnership with the UN Global Compact and the We Mean Business coalition, urging companies to commit to set ambitious science-based emissions reduction targets, aligned with limiting global warming to 1.5°C.
Launched in June 2020 under the stewardship of the United Nations Framework Convention on Climate Change (UNFCCC), Race to Zero is a global campaign designed to rally leadership and support from businesses, cities, regions, and investors committed to achieving net zero carbon emissions by 2050 at the latest, and to build momentum around the shift to a decarbonized economy ahead of the upcoming UN Climate Summit, COP26.
Signatories to the climate initiatives pledge to reach net zero emissions by 2050.
Fernando A. González, CEO of CEMEX, said:
“In the road leading up to the COP26, I am delighted to announce that we have signed the Business Ambition for 1.5°C and joined The Race to Zero Campaign. CEMEX’s commitment to Climate Action runs deeps, and we are excited to partner with prominent global organizations to deliver on this challenge. Implementing climate solutions require active collaboration between industry, governments, non-governmental organizations, and multilateral agencies, and we intend to continue to play an active role in these efforts. We encourage others to join us in this important challenge.”