CEMEX has updated its Green Financing Framework to align it with its more ambitious decarbonization goals.
The building materials provider says the update broadens the eligibility criteria for financing decarbonization technology, including carbon capture, utilization, and storage (CCUS), a crucial component of achieving carbon neutrality.
CEMEX’s Green Financing Framework, first issued in 2022, enables it to issue green financing instruments to finance or refinance eligible green projects in areas aligned with Future in Action, its sustainability and decarbonization program. Since then, the Science-Based Targets initiative (SBTi) has validated the company’s more ambitious goals for alignment with the 1.5ºC scenario. SBTi also validated CEMEX’s 2050 goal of becoming a net-zero CO2 company.
“The updated framework announced today represents an important step forward for CEMEX along its path towards fully integrating sustainability in our corporate financing strategy,” said Maher Al-Haffar, CEMEX’s chief financial officer and founding member of the UN Global Compact CFO Coalition for the SDGs. “This will also provide transparency to stakeholders as we execute on our sustainability roadmap, deploying exciting projects to contribute to the decarbonization of the construction industry.”
The Framework is aligned with the ICMA and LMA Green Bond and Loan Principles 2021, according to the second-party opinion issued by Sustainalytics.
CEMEX says that, consistent with its commitment to transparency, all its stakeholders will have the ability to assess progress on the allocation of all net proceeds related to the Framework and their environmental impact through CEMEX’s Integrated Report annual update.
