- Cemex and the Mission Possible Partnership collaborate on an
analysis of decarbonization levers in partnership with the Bezos
Earth Fund.
MONTERREY, Mexico, May 13, 2024
/PRNewswire/ -- Cemex and the Mission Possible Partnership (MPP),
in partnership with the Bezos Earth Fund, are collaborating to
conduct an analysis of the potential of
decarbonization levers at Cemex's Balcones
cement plant in Texas. This
analysis aims to accelerate Cemex's commitment to achieving
net-zero CO2 emissions by 2050.
There are various technological pathways to decarbonize the
cement industry and MPP is assisting Cemex in evaluating these
pathways at the production plant level, which includes the use of
alternative fuels, incorporation of lower-carbon materials, carbon
capture and storage, and the utilization of captured carbon to
produce synthetic fuels, chemicals, or construction materials.
"Our collaboration with the Mission Possible Partnership
represents a joint effort seeking to accelerate our sustainable
commitments and comprehensively evaluate the extent to which we can
utilize decarbonization levers within a specific plant ecosystem,"
said Fernando A. González, CEO of Cemex. "This involves
leveraging scalable technologies that would contribute to achieving
our ambitious decarbonization goals on the path to becoming a
net-zero company by 2050."
The high heat required in cement production is a key challenge to decarbonizing the cement industry.
Cemex and MPP are exploring technologies that
can substitute fossil fuels traditionally used to heat
kilns with waste, renewable gas, biomass, hydrogen,
and electrification of the kilns as they strive for a more
sustainable industrial production process.
MPP is driving industrial decarbonization across the entire
value chain of the world's heaviest-emitting industry and transport
sectors, including cement and concrete. Having created a series of
transition strategies for reaching net zero emissions in these
sectors, it is orchestrating collaboration with an expanding
network of partners to enable commercial-scale deep decarbonization
projects. Cemex is proud to partner with MPP in advancing
decarbonization in the cement and concrete sector.
This partnership with MPP aligns with Cemex's Future in Action
program, which 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.
Through Future in Action, Cemex has achieved record-breaking
progress in decarbonization. Since 2020, Cemex has reduced Scope 1
and 2 specific CO2 emissions by 13% and 12%, respectively, a pace
that would have taken 15 years to accomplish previously.
About Mission Possible Partnership
Mission Possible
Partnership (MPP) is a movement of climate leaders in business and
civil society driving industrial decarbonization across the entire
value chain of the world's highest-emitting sectors: aluminum,
cement, chemicals, steel, aviation, shipping, and trucking. MPP is
charting the inventive steps and radical collaboration to enable
commercial-scale deep decarbonization projects in this decisive
decade.
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.
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, expected results, the
project referred in this press release 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 any third-party information included
or referenced in this press release.
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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SOURCE Cemex USA