CEMEX has been a driver of reporting and transparency within the global cement and concrete industry. We believe that successful organizations today must actively measure, report and validate (MRV) in order to create long-term sustainable value and a continuous improvement in their operational culture. We understand reporting and disclosure of environmental impacts and mitigation actions as a key driver for awareness, management, and leadership.
To learn more about our global annual reports click here.
CEMEX was a founding member of the Cement Sustainability Initiative (CSI) in 1999 which operated under the auspices of the World Business Council for Sustainable Development (WBCSD), a voluntary CEO-led global effort by 24 major cement producers with operations in more than 100 countries representing around 30% of the world’s cement production. CSI members agreed on a global methodology for calculating and reporting CO2 emissions: The Cement CO2 Protocol.
The protocol was aligned with the overarching Greenhouse Gas Protocol developed under a joint initiative of the WBCSD and the World Resources Institute (WRI) and based on extensive practical application of Getting the Numbers Right (GNR) project.
Today, the work carried out by the Cement Sustainability Initiative (CSI) has been officially transferred from the World Business Council for Sustainable Development (WBCSD) to the Global Cement & Concrete Association (GCCA) as of 1 January 2019.
CEMEX is also one of the founding members of the new Global Cement and Concrete Association (GCCA). The GCCA has been established as the global industry platform to enable alignment and to facilitate sustainable development of the cement and concrete sectors and their value chains.
All GCCA members are required to develop a climate change mitigation strategy, verify the key performance indicators by a third party, establish targets and report progress in accordance with the GCCA Sustainability Charter allowing the industry to standardize the measuring and reporting on CO2 emissions at a global level.
Through our work in the GCCA we promote cement and concrete innovation as a key driver for climate action. The recent launch of Innovandi, the Global Cement and Concrete Research Network composed of world-class scientists and industry experts, is a testimony of our commitment to achieve sound progress through global collaboration on cement and concrete innovation. Global Cement and Concrete Research Network is designed to support global innovation with fact-based research focused on lowering the CO2.
Both, Getting the Numbers Right and the Carbon Disclosure Project (CDP) initiatives, represent together the biggest sources of cross-industry data on CO2 emissions.
As a reflection of our disclosure efforts we have been recently included in the A List of CDP (formerly Carbon Disclosure Project), in recognition for our actions to cut emissions, mitigate climate risks and develop the low-carbon economy, based on the data submitted by CEMEX through CDP’s 2019 climate change questionnaire. CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency.
Additionally, we adhere to the recommendations of the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD) as it represents the next step in our climate-related disclosures. Creating a common understanding of climate-related risks and opportunities across the cement and concrete industry is key in the delivery of the Paris Agreement goals. Disclosure of climate-related governance, strategy, risk and metrics is essential information for successful long-term investors.
Thus, CEMEX has developed a voluntary climate-related financial risk disclosure framework, with a focus on a forward-looking approach by including scenario analysis into our strategic planning with the aim of providing transparent information to investors, lenders, insurers, and other stakeholders. Bolstering our climate-related disclosures, and including them in our financial reports, will allow investors to enhance their analysis of risks and opportunities associated with climate change.
We are proud to support this initiative and we will continue to excel at developing methodologies and metrics to identify, quantify, and disclose climate related risks and opportunities.