Cemex has updated its Sustainability-Linked Financing Framework to align with its more ambitious 2030 decarbonization targets, which were announced last November and are validated by the Science-Based Targets initiative (SBTi).
“The updated framework reinforces our commitment to reducing the carbon footprint of our operations,” said Maher Al-Haffar, Cemex’s chief financial officer and founding member of the UN Global Compact CFO Coalition for the SDGs. “Sustainable finance is an enabler of the low carbon transition and plays a crucial role in aligning our sustainability ambitions with the expectations of the financing community.”
First issued in 2021, Cemex’s framework aligns the company’s financing strategy with its corporate sustainability commitments. It is now linked with more aggressive scope 1 and 2 emission reductions in cement production. It is also linked to reducing Cemex’s 2030 clinker factor and increasing the use of alternative fuels with high biomass content.
ESG research and data leader Morningstar Sustainalytics provided its opinion on the framework updates and considers the KPIs as strong or very strong, and the respective sustainable performance targets as moderately or highly ambitious.
