CEMEX Decarbonization Goals Validated by the SBTi for Alignment with 1.5ºC Scenario

By: CEMEX, S.A.B. de C.V. via Business Wire

November 10, 2022 at 06:00 AM EST

CEMEX is among the first companies in the global cement industry to validate its 2030 carbon reduction goals through the SBTi for alignment under its 1.5ºC scenario.
CEMEX’s goals are among the most ambitious in the industry.

CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it is among the first companies in the global cement industry to validate its 2030 decarbonization goals through the Science Based Targets initiative (SBTi) for alignment under their new 1.5ºC scenario, the most ambitious pathway defined for the industry. This validation includes scope 1, 2, and 3 targets.

CEMEX, the largest concrete producer in the western world and a global leader in cement production, accelerated it decarbonization efforts through its Future in Action program in 2021, aiming to build a more sustainable, circular future, with the primary objective of becoming a net-zero CO₂company. Since then, the company has achieved record-breaking CO₂reductions, and its performance to date has given the company the confidence that it can achieve a more accelerated pathway for 2030.

“Climate change is the biggest challenge of our times, and the building materials industry must be at the forefront of decarbonizing the built environment,” said Fernando A. González, CEO of CEMEX. “We are committed to being leaders on the path to net-zero through relentless innovation and aggressive targets that are backed up by meaningful and measurable progress. The SBTi’s validation is clear evidence of this. Through Future in Action, we are reducing carbon emissions in every part of our value chain and providing our customers with lower carbon products so they can also be part of the solution.”

“Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero,” said Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative. “Today, CEMEX joins the growing list of companies cutting emissions across its entire value chain in line with science and it is playing its part in limiting warming to 1.5°C.”

For more information about CEMEX’s targets, please visit www.cemex.com/sustainability/future-in-action

For more information about SBTi, please visit www.sciencebasedtargets.org

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

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005461/en/

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CEMEX Decarbonization Goals Validated by the SBTi for Alignment with 1.5ºC Scenario

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