CEMEX links ARS programmes to sustainability goals

CEMEX links ARS programmes to sustainability goals
09 February 2023

CEMEX has announced that all its accounts receivable securitisation (ARS) programmes are now linked to CEMEX’s sustainability-linked financing framework, which is aligned to the company’s ambitious sustainability goals within its Future in Action programme. 

The framework references three climate action KPIs: net CO2 emissions per ton of cementitious material; power consumption from clean energy sources in cement; and alternative fuels rate. The annual performance in these metrics may result in an adjustment of the interest rate margin paid under the programmes. 

The programmes amount to approximately US$750m and are used by CEMEX’s operations in Mexico, the USA, the UK, and France. “The integration of these programmes into our sustainability-linked framework further aligns our financing strategy to our leadership in addressing climate change. With the integration of these programs, we now have approximately 42 per cent of our debt linked to sustainability metrics, bringing us closer to our goal of 50 per cent by 2025 and 85 per cent by 2030,” said Maher Al-Haffar, CEMEX’s CFO. 

Published under Cement News