Cemex named one of Latin America’s best companies in CO2 emissions performance and disclosure
Cemex has been named by the Carbon Disclosure Project (CDP) as the best Latin American company in terms of climate change data disclosure and one of the top ten in overall carbon emissions performance.
The rankings were announced during the launching of the CDP’s latest report “CDP Investor Latin America 2012”, which comprises data on the emissions of greenhouse gases from 32 major companies in Argentina, Brazil, Chile, Mexico, and Peru. The CDP is a UK-based independent non- governmental organization (NGO) that possesses the world’s largest database on corporate impact on climate change. Harvard Business Review has named it one of “the most powerful green” NGOs.
Among the companies that took part in the report and were also highlighted for outstanding performance and disclosure policies were Vale, Itaúsa, Walmart de Mexico, Petrobras and Banorte.
Outstanding climate change data disclosure, of which Cemex obtained the highest grade in the report for Latin America, is indicative of an approach to climate change deeply integrated into the company’s overall strategy, a thorough comprehension of its risks and areas of opportunity, and a transparent measurement and disclosure of the company’s carbon footprint.
One of Cemex’s most important initiatives in this area is its CO2 Footprint Tool, the first of its kind in the building materials industry, that allows the company to measure the GHG emissions of its cement, ready-mix concrete and aggregates products. The footprint tool considers a cradle-to-gate approach, from raw material sourcing to product manufacturing, providing significant assistance to its customers in calculating the carbon footprint of their projects.
In the grading of performance, a high grade like the one obtained by Cemex indicates a completely integrated strategy showing maturity in climate change initiatives. In 2011, Cemex achieved a 22.7 per cent reduction on CO2 net emissions per ton of cement produced relative to its 1990 baseline, allowing the avoidance of yearly emissions equivalent to that of 1.3 million passenger vehicles per year. Also in 2011, Cemex’s rate of alternative-fuel use rose to approximately 25 per cent, a sizable improvement from its rate of 20.3 per cent in 2010. Cemex is on track to reach its 2015 target of 35 per cent alternative fuels substitution rate, one of the most ambitious commitments among its global peers.