We earned an A Score in Climate Change from CDP

The score places us at the top of CDP’s A List and among the best cement companies in the world for implementing best practices in strategic environmental management

We were recognized for our leadership in corporate transparency and climate change performance by CDP, one of the most respected international non-profit organizations that runs a global disclosure system for companies, cities, states and regions to manage their environmental impacts.

 Based on data reported through the CDP Climate Change 2023 Questionnaire, we earned an A score, placing us among a small number of organizations that are ranked at the top of the list and exemplify best practices in the market.

 CDP holds the largest environmental database in the world and its scores are widely used to inform investment decisions in support of a zero-carbon, sustainable and resilient economy. In 2023, more than 740 financial institutions holding over US$136 trillion in assets called on companies to disclose their environmental impacts, risks and opportunities through the CDP platform.

A record 23,000 companies responded to the questionnaire last year. CDP uses a detailed and independent methodology to score companies from A to D based on the level of comprehensiveness in disclosure, awareness and management of environmental risks, and incorporation of best practices, such as setting ambitious and meaningful targets. Companies that do not disclose their impacts or provide insufficient information receive an F score.

 “Earning the highest score from CDP is something we are very proud of. We work daily to achieve our goals in line with Our 2030 Sustainability Commitments and the UN Sustainable Development Goals (SDGs). Tackling the negative effects of climate change is at the core of our strategy and we recognize the role, importance and relevance of our decarbonization journey. Between 1990 (baseline year used by the cement industry) and 2022, we reduced our CO2 emissions per tonne of cement produced by 24%,” said Álvaro Lorenz, our global director of Sustainability, Institutional Relations, Product Development and Engineering.

 

Decarbonization journey  

Our decarbonization strategy is based on four main pillars: co-processing (the substitution of fossil fuels used in cement production kilns for other materials, especially biomass and waste); the use of cementitious materials, including by-products from other industries, to replace clinker (the main source of CO2 emissions in the cement production process); energy efficiency and the use of renewable energy sources, leveraging company-owned hydroelectric power plants and investments in solar and wind energy; and the development of technologies (use of innovative processes, new materials, carbon capture, use and storage, dematerialization of the value chain, partnerships with various businesses and academic organizations to increasingly optimize resources and reduce carbon intensity).

 In December 2022, we announced a new decarbonization target for 2030, approved by the Science Based Target initiative (SBTi), of 475 kg of CO2 per tonne of cement. The new target is 8.7% lower than the target announced as part of Our 2030 Sustainability Commitments (520 kg of CO2 per tonne of cement). We also has the ambition to produce carbon-neutral concrete by 2050.

The full list of companies on this year’s CDP A List is available at the link