Further expanding its commitment to sustainable finance and building a more sustainable world, CEMEX launched its Green Financing Framework – the first in its sector. The framework supports the company’s Future in Action, a roadmap whose most immediate target is a 40% reduction in cement process emissions by 2030.
The Green Financing 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. The company intends to allocate net proceeds from such 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.
“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 investors and other stakeholders can track environmental progress on the allocation of all financing instruments’ funds through an annual update in the company’s Integrated Report.
