Energy Efficiency, GHG Emissions, Industrial - October 10, 2022
CEMEX Submits 2050 Goals to SBTi
CEMEX, S.A.B. de C.V. announced that it is working with the Science-Based Targets initiative (SBTi) to validate its 2050 net-zero CO2 roadmap and its 2030 decarbonization goals.
The company’s previous goals were aligned with the Well-Below 2ºC scenario. After helping develop the new 1.5º framework as a member of the SBTi’s Expert Advisory Group, CEMEX has now aligned its Future in Action goals to the new standard and submitted them for review by the SBTi. CEMEX will also establish 2030 and 2050 targets for its main Scope 3 emissions as part of this verification process.
“Mitigating climate change and decarbonizing the construction industry is our top priority,” says Fernando A. González, CEO of CEMEX in a statement. “The record-breaking CO2 reduction we achieved through Future in Action in the past 18 months gives us confidence that a more accelerated pathway for 2030 is possible. We are keenly aware of the role that our industry must play in the race to zero and are committed to continue leading in this challenge.”
CEMEX has also submitted its long-term net-zero roadmap to the SBTi for validation. The company’s intention to align its roadmap to SBTi’s Net-Zero Standard reflects its confidence that it is on the right path to net-zero and contributes 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 those produced by their own processes (Scope 1), purchased electricity and heat (Scope 2), and generated by a company’s suppliers and end-users (Scope 3).
CEMEX’s Vertua is a family of products with sustainability attributes, including lower-carbon cements and the first net-zero CO2 concrete. Vertua has seen widespread market adoption and its lower-carbon products should account for most of its sales by 2025.