CEMEX Continues to Lead in Climate Action With Its New Green Financing Framework
June 27 2022 - 6:30AM
Business Wire
- The new Green Financing Framework is the first of its kind in
the building materials sector.
- The Framework enables CEMEX to issue green financing
instruments in alignment to its CO2 reduction efforts.
- It increases the reach of the previously announced
Sustainability-Linked Financing Framework.
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today the
launch of its Green Financing Framework (the “Framework”), the
first in its sector, further expanding its commitment to
sustainable finance and building a more sustainable world. The
Framework reflects the roadmap and objectives of CEMEX's climate
action program, Future in Action.
The Framework enables CEMEX to issue green financing instruments
aligned with the International Capital Market Association (“ICMA”)
Green Bond Principles and the Loan Market Association Green Loan
Principles. Under the Framework, CEMEX intends to allocate the net
proceeds from the issuances to finance eligible green projects in
areas such as CO2 emissions reduction, clean electricity and energy
efficiency, clean transportation, water management, air quality,
circular economy, and waste management.
CEMEX has a steadfast commitment to lead in climate action and
to achieve net-zero carbon emissions globally in concrete by 2050.
The Framework further aligns CEMEX’s financing strategy to its
corporate sustainability commitments, as outlined in its Future in
Action program.
“After launching our Sustainability-Linked Financing Framework
last year, it is only natural for us to build on that initiative
with additional sustainable finance innovation in the form of the
Green Financing Framework, that will enable the building of a more
resilient future for all,” said Maher Al-Haffar, CEMEX's Chief
Financial Officer and founding member of the UN Global Compact CFO
Coalition for the SDGs.
The Framework has been subject to an independent external
assessment by Sustainalytics, a global leader in providing ESG
research and analysis. Sustainalytics issued a second party opinion
confirming that the CEMEX Green Financing Framework is credible and
impactful and aligns with the Green Bond Principles 2021 and the
Green Loan Principles 2021.
In line with its commitment to transparency, CEMEX stakeholders
will have the ability to assess CEMEX’s progress on the allocation
of all net proceeds related to the Framework and their
environmental impact through an annual update in its Integrated
Report.
The Framework and Sustainalytics’ Second Party Opinion can be
found in the following link:
https://www.cemex.com/en/investors/debt-information/sustainable-finance#navigate
Under its Future in Action program, CEMEX announced a 40%
reduction goal of its specific net CO2 emissions in cement by
2030*. Additionally, the company set a target to source 55% of its
electricity needs from clean sources by 2030. These climate action
goals are aligned to an ambitious CO2 reduction pathway validated
by the Science Based Targets Initiative (SBTi) according to the
Well Below 2°C Scenario. CEMEX’s aggressive 2030 climate action
targets are an important milestone in the company’s transition to
achieving carbon neutrality by 2050.
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 use 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
* Compared with the 1990 baseline.
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. These statements necessarily
involve risks and uncertainties that could cause actual results to
differ materially from CEMEX’s expectations. 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. These factors may be
revised or supplemented, but CEMEX is not under, and expressly
disclaims, any obligation to update or correct this press release
or any forward-looking statement contained herein, whether as a
result of new information, future events or otherwise. 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. CEMEX is not
responsible for the content of any third-party website or webpage
referenced to or accessible through this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220627005256/en/
Media Relations Jorge Pérez +52 (81) 8259-6666
jorgeluis.perez@cemex.com
Analyst and Investor Relations Alfredo Garza / Fabián
Orta +1 (212) 317-6011 +52 (81) 8888-4327 ir@cemex.com
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