Framework first of its kind in building materials sector; allows CEMEX to issue green financing instruments
CEMEX have launched their Green Financing Framework – the first of its kind in the building materials sector – further expanding the company’s commitment to sustainable finance and building a more sustainable world.
Reflecting the roadmap and objectives of CEMEX’s Future in Action climate action programme, the Framework allows the company to issue green financing instruments aligned with the International Capital Market Association (ICMA) Green Bond Principles and the Loan Market Association Green Loan Principles.
Under the Framework, CEMEX intend to allocate the net proceeds from the issuances to finance-eligible green projects in areas such as CO2 emissions reduction, clean electricity and energy efficiency, clean transportation, water management, air quality, circular economy, and waste management.
With a steadfast commitment to lead in climate action and to achieve net-zero carbon emissions globally in concrete by 2050, the Framework will further align CEMEX’s financing strategy to their corporate sustainability commitments, as outlined in their Future in Action programme.
‘After launching our Sustainability-Linked Financing Framework last year, it is only natural for us to build on that initiative with additional sustainable finance innovation in the form of the Green Financing Framework, that will enable the building of a more resilient future for all,’ commented CEMEX chief financial officer Maher Al-Haffar.
The Framework has been subject to an independent external assessment by Sustainalytics, a global leader in providing ESG research and analysis, who have issued a second-party opinion confirming that the CEMEX Green Financing Framework is credible and impactful and aligns with the Green Bond Principles 2021 and the Green Loan Principles 2021.
In line with CEMEX’s commitment to transparency, company stakeholders will have the ability to assess CEMEX’s progress on the allocation of all net proceeds related to the Framework and their environmental impact through an annual update in the company’s Integrated Report.