In July, a group of investors that manages $2 trillion told cement makers to accelerate efforts to reduce their emissions. The coalition is made up of members of the Institutional Investors Group on Climate Change and Climate Action 100+ (IIGCC), a leading campaign group with 320 supporters.
“The cement sector needs to dramatically reduce the contribution it makes to climate change. Delaying or avoiding this challenge is not an option,” Stephanie Pfeifer, CEO of IIGCC, said in a statement. “This is ultimately a business-critical issue for the sector.”
The latest call to action targets four major building materials companies based in Europe: CRH, LafargeHolcim, HeidelbergCement and Saint-Gobain. The investors want the producers to commit to being carbon neutral by 2050.
Make no mistake, it is not like international cement corporations have been sitting on their hands. Emissions control is an evolution and the industry is working in a positive direction.
Our international editor Jonathan Rowland details how carbon capture and storage is playing an important role in C02 reduction in his feature story, “At the Cutting Edge,” in this issue. “There also needs to be an increase in financial support for carbon capture innovation at the European level for these technologies to go from interesting side shows to something that changes the entire industry,” Rowland writes.
The North American cement industry will be following these developments closely.
Mark S. Kuhar, editor
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