Cemex highlighted that currently the cement industry as a whole emits an estimated 5-7% (unaudited) of global CO2 emissions per year.
The cement industry emits CO2 in the manufacturing process, mainly during the calcination of limestone, as well as CO2 emitted from the use of fossil fuels in the kilns.
At Cemex, of a total gross CO2 emissions per year of 50 million tons, 60% come from the production process, 20% are indirect emissions from electricity consumption, and the remaining 20% come from supply and transportation activities, according to with unaudited data.
For this reason, Cemex considers medium-term and long-term initiatives aimed at significantly reducing its CO2 emissions to align its efforts with the objectives of the Paris Agreement of limiting the increase in global temperature to well below 2ºC over pre-industrial levels and direct efforts to limit the temperature increase further to 1.5 degrees Celsius.
In 2021, the company redefined its medium-term and long-term goals, one of which is to reduce CO2 emissions by 35% by 2025 and more than 40% by 2030, compared to 1990 levels for Scope 1 emissions. .
Another of its objectives is to achieve a 42% reduction in Scope 2 emissions by 2030 compared to the level of the year 2020, which represents reaching a consumption of 55% of clean electricity.
Finally, the company also intends to deliver carbon neutral concrete in all its geographies by 2050.
Cemex targets (unaudited) were verified by the Science-Based Targets initiative (SBTi) to be in line with the well below 2ºC scenario. SBTi, the leading authority on science-based targets for climate change, leads ambitious climate action in the private sector to enable companies to set science-based emission reduction targets.
During 2021, Cemex also signed its commitment to the Business Ambition for 1.5 Degrees reduction program of the We Mean Business Coalition, establishing that Cemex will align its CO2 reduction goals after 2030 with the 1.5 degrees Celsius scenario, when said scenario available to the cement industry.
Likewise, Cemex joined the Race To Zero campaign of the United Nations Climate Change Convention (UNFCCC) prior to the UN Conference on Climate Change 26 (COP26) in Glasgow, Scotland, which ended on November 12 of 2021.
Through these actions, Cemex reaffirmed its ambition to deliver globally neutral concrete by 2050.