Cemex Tops Industry in 2024 Climate and Energy Benchmark
MONTERREY, Mexico–(BUSINESS WIRE)–#benchmark–Cemex has been recognized as the industry’s top-scoring company in the World Benchmarking Alliance’s 2024 Climate and Energy Benchmark. This recognition demonstrates Cemex’s commitment to transitioning to a lower-carbon cement industry, with the aim of becoming a net-zero CO2 company by 2050.
The World Benchmarking Alliance (WBA) measured and ranked 91 of the world’s most influential aluminum, cement, and steel companies for the first time based on their emission targets and transition to a lower-carbon future. Cemex achieved the highest score in the overall cement ranking after the WBA assessed the company’s climate performance using industry specific Accelerate Climate Transition (ACT) methodologies, as well as social and just transition indicators.
“We are proud to achieve the highest score in the 2024 Climate and Energy Benchmark ranking, demonstrating Cemex’s leadership in climate action and social impact,” said Fernando A. González, CEO of Cemex. “We are committed to achieving our ambitious 2030 decarbonization goals on the path to becoming a net-zero company by 2050 while making a positive and lasting difference in our communities.”
WBA develops transformative benchmarks that compare companies’ progress against the Paris Agreement and a just transition. The benchmarks are supported by available science while leveraging existing international norms.
Since the launch of Cemex’s Future in Action program in 2020, the company has achieved record-breaking progress in decarbonization, reducing Scope 1 and 2 emissions by 13% and 10%, respectively, a pace that previously would have taken Cemex 15 years to accomplish. Future in Action focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net zero CO2 company by 2050.
You may access the complete ranking at the following link:
https://www.worldbenchmarkingalliance.org/publication/heavy-industries/rankings/
About Cemex
Cemex 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 help 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: www.cemex.com
About WBA
The World Benchmarking Alliance is a non-profit organization that assesses and ranks the world’s most influential companies on their contribution to the Sustainable Development Goals. The organization publishes free and publicly available benchmarks to empower all stakeholders, from investors to consumers, to hold the private sector accountable on the role in building a more sustainable world that works for everyone.
Except as the context otherwise may require, references in this press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B. de C.V. (NYSE: CX) and its consolidated subsidiaries. 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, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex’s expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex’s most recent annual report and detailed from time to time in Cemex’s other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex’s expectations and/or expected results not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. 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, and expressly disclaims responsibility for, the content of any third-party website or webpage referenced to or accessible through this press release, nor for any quote, expectation, or projection from any third-party contained herein. Certain data used in this press release was obtained from independent industry publications and reports that Cemex believes to be reliable sources. Cemex has not independently verified this data nor sought the consent of any organizations to refer to their reports in this document.
There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green’, ‘social,’ or ‘sustainable’ or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green’, ‘social’, or ‘sustainable’ or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time.
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