HeidelbergCement is accelerating its transformation toward a sustainable future with new medium-term sustainability and financial targets under the motto “Concrete Promises.”
“Our focus is on expanding our portfolio of sustainable products, reducing our CO2 emissions quickly and significantly, proving that CO2-free products are possible on a large scale, and creating a circular economy by consistently applying the principles of circularity. Our new sustainability targets for 2030 illustrate this ambition,” said Dr. Dominik von Achten, chairman of the managing board of HeidelbergCement.
The company is targeting the reduction of specific net CO2 emissions by almost half to 400 kg/t of cementitious material by 2030. This goal corresponds to a reduction of 47% compared with the base year 1990 and is significantly higher than the previous reduction target of 33% for 2030 in the same period. It is the most ambitious CO2 reduction target in the sector, according to HeidelbergCement.
Additionally, HeidelbergCement aims to generate half of its group revenue with sustainable products by 2030. It also aims to save 10 mt of CO2 cumulatively by 2030 through carbon capture, utilization and storage (CCUS) projects it has already launched.
“We have already achieved our financial targets ahead of schedule, which we had promised in our Beyond 2020 strategy. Now we are sharpening them – in addition to our new sustainability targets,” said von Achten. On a comparable basis, the company aims to increase revenue by around 5% p.a. and the RCOBD margin between 20% to 22% by 2025.
HeidelbergCement will also become a leader in the sector in the area of financing. René Aldach, chief financial officer of HeidelbergCement, added: “By 2025, more than 70% of our debt is to be covered by sustainable financial instruments. Among other things, we are relying on a bond program that is the first in the industry to be aligned with the climate goals of the EU taxonomy.”