CEMEX CO2 target validated by Carbon Trust
Carbon Trust backing for company’s 2030 emissions reduction commitment and implementation roadmap
THE Carbon Trust has validated CEMEX’s roadmap to decarbonize global operations in line with the Sectoral Decarbonization Approach (SDA) 2°C scenario developed by the International Energy Agency (IEA), backing up the company’s commitment to achieve a 35% reduction in net carbon emissions by 2030.
The validation scope included CEMEX’s worldwide cement operations, with a detailed analysis of plants expected to contribute at least 80% of the direct and indirect organizational CO2 emission reductions needed to achieve the 2030 target.
The Carbon Trust assessed the technical feasibility of key technology and decarbonization levers based on guidelines defined by international institutions such as the International Energy Agency, the Cement Sustainability Initiative and the European Climate Research Alliance.
The CO2-reduction levers included alternative fuels, decarbonated raw materials, renewable power projects, and novel cements, among others. The validation also included a thorough review of CEMEX’s commitment to implement these levers based on governance mechanisms and business planning.
The analysis concluded that all the technologies considered are sufficiently mature and market ready, and that the right business planning is in place to achieve the results within the required time frame. The estimated CO2 emissions reductions from planned initiatives were found to be realistic, considering plant-specific characteristics and local market conditions.
‘The Carbon Trust validation confirms that CEMEX have a robust climate change strategy, the appropriate corporate governance and planning mechanisms for the implementation of a pathway to reduce our CO2 emissions in line with the 2°C scenario,’ said Vicente Saiso, CEMEX’s director of sustainability.
‘With this important validation as well as the availability of viable technology, we are even more resolved to implement our roadmap and proceed with the necessary investments. The assessment conducted by the Carbon Trust supports the work we have done to date, and we look forward to collaborating with them more in the future as we pursue even more ambitious goals.’
Aleyn Smith-Gillespie, associate director advisory at the Carbon Trust, said: ‘The magnitude and complexity of change required by a company such as CEMEX to decarbonize its global operations is significant. Our assessment provides the organization’s management, investors and stakeholders with an independent validation that its commitments are backed up by sound assumptions and planning.
‘Our engagement with CEMEX’s internal community of decision-makers and experts, and our review of the pipeline of decarbonization opportunities provides a foundation for the company to continue raising its climate ambition.’