Displaying items by tag: target

Germany: HeidelbergCement has signed the Science-Based Targets Initiative’s (SBTi) Business Ambition for 1.5°C commitment and joined the United Nations (UN) Framework Convention on Climate Change Race to Zero campaign. The former entails a commitment to limiting global warming to 1.5°C and achieving net zero carbon emissions by 2050. Race to Zero membership entails a positive commitment to beginning the transition to a decarbonised economy before the UN Climate Change Conference of the Parties in November 2021.

Chair Dominik von Achten said “As one of the world's leading building materials producers, we are continuously increasing our efforts in the global fight against climate change. We are working on all levels to reach climate neutrality – within our operations as well as through associations and initiatives such as the Race To Zero campaign. Every effort brings us closer to our goal.”

Mexico: Cemex has launched a new brace of CO₂ emissions reduction targets. The group is now targeting CO₂ emissions below 475kg/t of cement and 165kg/m3 of concrete by 2030. These represent decreases of 40% and 35% respectively compared to 1990 levels. The group plans to invest US$60m/yr in efforts to meet its 2030 targets. It had previously targeted CO₂ emissions below 520kg/t of cement by 2030. It now aims to achieve the previous target by 2025. The group says it intends to reach the new targets through the use of alternative fuels with high biomass content, hydrogen injection, low temperature and low CO₂ clinker, decarbonated raw materials, optimisation of the kilns’ heat consumption and the reduction of clinker factor through the higher utilisation of blended cements in the market.

Chief executive officer Fernando Gonzalez said, “Climate action is the biggest challenge of our times, and Cemex is taking decisive action to address it. We commit to continue leading the industry in climate action.”

Australia: Adbri says it wants to achieve net zero carbon emissions by 2050 as part of its commitment to a low carbon future. The board and management team are assessing medium and long term emissions reduction options and are intend to release a roadmap by the 2022 annual general meeting. Adbri set its current emissions reduction target in 2019, to deliver a 7% reduction in its greenhouse gas emissions by 2024 against 2019 baselines. In 2020 it achieved 2.3% reduction.

“We recognise that process emissions from the production of cement and lime are not easy to abate. Adbri is committed to maintaining its sector leadership position in sustainability by continuing to increase its use of renewable energy, alternative fuels and supplementary cementitious materials. Developments in technology and partnership with industry, government and research institutions will be critical as we deepen our understanding of long term emission reduction options. This will form part of our roadmap toward net zero by 2050,” said Adbri’s chief executive officer Nick Miller.

Vietnam: The Provincial Department of Trade and Industry (PDTI) of the northern province of Quang Ninh has announced a second-quarter cement production target of 879,000t in 2021. Viet Nam News has reported that the figure represents a significant increase as part of a local plan to increase gross regional domestic product (GRDP) by 10% in 2021. In the second quarter of the year, the PDTI is targeting US$2.1bn-worth of private investment in the provincial economy.

Greece: Titan Cement group has accelerated its efforts towards sustainability with new environmental, social and governance (ESG) targets. The targets include an updated CO₂ emissions reduction target of 35% by 2030 compared to 1990 levels, zero workplace fatalities and a cement industry top-three lost time injury frequency rate, increased female leadership participation and 70% supplier sustainability in line with the producer’s own ESG standards by 2025. It also set a water consumption target of 280L/t of cementitious material produced and 50% certified Zero Waste to landfill production by 2025.

Chief sustainability officer Leonidas Canellopoulos said, “We are building on our strong track record on sustainability and aspire to increase our positive impact on people, society, and the environment. We are committing to ambitious targets that aim to generate more value for all our stakeholders and set the foundations for sustainable growth in a carbon-neutral and digitalised world.”

India: The Science-Based Targets Initiative (SBTI) has validated UltraTech Cement’s CO₂ emissions reduction targets. The validation confirms that the company’s targets are in line with a 2°C temperature rise scenario under the Paris Agreement. The targets consist of a 27% reduction in Scope 1 CO₂ emissions between 2017 and 2032 and a 69% reduction in Scope 2 CO₂ emissions between 2017 and 2032. This corresponds to a 462kg/t net CO₂ reduction for the producer’s cement.

Managing director Kailash Jhanwar said, “A changing climate scenario poses significant challenges for the built environment sector. It equally provides valuable opportunities to develop sustainable products and services. By committing to science-based targets, UltraTech Cement has once again demonstrated leadership in paving the way for the sector to help build sustainable infrastructure.”

Germany: HeidelbergCement has detailed how it uses bonuses to ensure country and cement plant managers achieve their CO₂ reduction targets. Chief financial officer Lorenz Näger explained to financial analysts following the publication of the group’s fourth quarter results for 2020, that a plant’s annual reduction target is calculated against the group-wide ‘525 by 2025’ target of CO₂ emissions of 525kg/t of cementitious material by 2025. Plant performance against this is multiplied with a financial target to determine a manager’s bonus. This enables for the enlargement of bonuses at financially well-performing plants which exceed their emissions reduction targets. A similar mechanism is also used for country managers. Näger called the incentive mechanism a ‘step-changer.’

Vietnam: The Vietnam National Cement Corporation (VICEM) aims to increase cement production by 1% year-on-year to 22Mt in 2021. The Viet Nam News newspaper has reported that the company is targeting a sales increase of 7% to US$1.5bn and a profit increase of 13% to US$99m. The company says that it expects domestic cement consumption to rise by 5% to 30Mt.

The group has set out six solutions by which to achieve its goals: continue to ‘optimise and improve production capacity’ through promoting research and application of advanced science and technology, focus on ‘investment in depth,’ reduce consumption, use resources economically and reduce environmental impacts throughout the supply chain.

VICEM chair Bui Hong Minh said, “Implementing the comprehensive restructuring project of the corporation in the period of 2019 - 2025 approved by the Ministry of Construction, VICEM is focussing on promoting innovation and creativity to bring new development space and motivation to the Bim Son Cement unit in particular and the cement industry in general.”

In 2020 VICEM increased its full-year profit by US$30m.

Spain: The Spanish cement association Oficemen has targeted a 43% emissions drop by 2030 across its entire value chain compared to 1990 levels. The objective has been published as part of the association’s sustainability roadmap to 2050. It is a tightening of the previous target of 27% by 2030. Oficemen intends to meet the tougher reduction by using the so-called 5C approach - clinker, cement, concrete, construction and built environment, and (re)carbonation – as detailed by Cembureau, the European Cement Association. Oficemen also revealed that it is working with the Spanish Technological Platform for CO₂ (PTECO₂) on identifying potential locations for storing captured CO₂. Hugo Morán, Secretary of State for the Environment, participated remotely with the launch event.

Oficemen also reports that Spanish cement consumption fell by 12% year-on-year to 12.2Mt in the first 11 months of 2020. Exports declined by 5%.

Switzerland: LafargeHolcim has launched a Euro850m sustainability-linked bond with a coupon of 0.5% maturing in 2031. It says it is the first bond of its kind in the building materials industry and that it is part of its commitment to reach its 2030 CO₂ reduction target.

“We are proud to be the first in our industry to launch a sustainability-linked bond. The order book of Euro2.6bn demonstrates the confidence of investors in the company’s financial strength, strategy and ability to deliver on its sustainability targets,” said Géraldine Picaud, Chief Financial Officer of LafargeHolcim.

Bond investors will be entitled to a higher coupon should the company not meet its objective, incentivising LafargeHolcim to reach its target of 475kg net CO₂ per tonne of cementitious material by 2030.