The validation scope included CEMEX's worldwide cement operations, with a detailed analysis of plants expected to contribute at least 80% of the direct and indirect organisational CO2 emission reductions needed to achieve the 2030 target.
The Carbon Trust assessed the technical feasibility of key technology and decarbonisation levers based on guidelines defined by international institutions such as the International Energy Agency, the Cement Sustainability Initiative, and the European Climate Research Alliance. The CO2 reduction levers included alternative fuels, decarbonated raw materials, renewable power projects, and novel cements, among others. The validation also included a thorough review of CEMEX's commitment to implement these levers based on governance mechanisms and business planning.
The analysis concluded that all the technologies considered are sufficiently mature and market-ready. The right business planning is in place to achieve the results within the required time frame. The estimated CO2 emissions reductions from planned initiatives were found to be realistic, considering plant-specific characteristics and local market conditions.
"The Carbon Trust validation confirms that CEMEX has a robust climate change strategy, the appropriate corporate governance and planning mechanisms for the implementation of a pathway to reduce our CO2 emissions in line with the 2-degree scenario," said Vicente Saiso, CEMEX's director of Sustainability. "With this important validation as well as the availability of viable technology, we are even more resolved to implement our roadmap and proceed with the necessary investments. The assessment conducted by the Carbon Trust supports the work we have done to date, and we look forward to collaborating with them more in the future as we pursue even more ambitious goals."
Aleyn Smith-Gillespie, associate director advisory at the Carbon Trust, said: "The magnitude and complexity of change required by a company such as CEMEX to decarbonise its global operations are significant. Our assessment provides the organisation's management, investors and stakeholders with an independent validation that its commitments are backed up by sound assumptions and planning. Our engagement with CEMEX's internal community of decision-makers and experts and our review of the pipeline of decarbonisation opportunities provides a foundation for the company to continue raising its climate ambition."
The validation of CEMEX's emission reduction strategy was carried out based on limited assurance, following principles defined by the ISO 14064 part 3 of the Standard. The findings validate CEMEX's roadmap for reducing Scope 1 and 2 emissions. The assessment also concluded that technological solutions and market conditions supported the company's decarbonisation pathway and that the appropriate corporate governance and business planning structures were in place to implement the strategy.
