Cemex S.A.B. de C.V. - CX STOCK NEWS

Cemex has signed a Network Partnership agreement with the Ellen MacArthur Foundation to accelerate circular economy efforts in the built environment. This partnership aims to integrate and scale circular economy principles into the cement supply chain through Cemex's Regenera business. The collaboration will leverage science-based research, advocacy, and coalition-building initiatives to drive circularity in the building materials industry.

Key points:

• Cemex's Regenera recovered over 9 million tons of construction and demolition waste in 2023, a 5% increase from the previous year.
• The built environment sector accounts for approximately 37% of global CO2 emissions.
• Incorporating circular economy principles in the built environment can reduce global CO2 emissions from building materials by 38% by 2050.
• This partnership is part of Cemex's Future in Action program, aiming to achieve sustainable excellence and become a net-zero CO2 company by 2050.

Cemex collaborates with the Mission Possible Partnership and the Bezos Earth Fund to analyze decarbonization levers at its Balcones cement plant in Texas. The partnership aims to accelerate Cemex's commitment to achieving net-zero CO2 emissions by 2050 by exploring various technological pathways such as alternative fuels, lower-carbon materials, carbon capture and storage, and the utilization of captured carbon for synthetic fuels or construction materials.

CEO Fernando A. González highlights the importance of leveraging scalable technologies to meet ambitious decarbonization goals. The partnership focuses on addressing the high heat required in cement production by exploring substitutes for fossil fuels, including waste, renewable gas, biomass, hydrogen, and electrification of kilns. MPP drives industrial decarbonization in heavy-emitting sectors like cement and concrete, collaborating with partners to enable deep decarbonization projects at a commercial scale.

This collaboration aligns with Cemex's Future in Action program, which aims to achieve sustainable excellence through climate action, circularity, and resource management, with the goal of becoming a net zero CO2 company by 2050. Cemex has made significant progress in decarbonization, reducing specific CO2 emissions by 13% and 12% in Scope 1 and 2, respectively, since 2020.

Cemex has been recognized as the industry's top-scoring company in the World Benchmarking Alliance's 2024 Climate and Energy Benchmark, showcasing its commitment to transitioning to a lower-carbon future and aiming to be a net-zero CO2 company by 2050. The company achieved the highest score in the cement industry ranking, reflecting its dedication to climate action and social impact.

Cemex has been upgraded to investment grade by Fitch Ratings, achieving BBB- status. This follows an earlier upgrade by S&P Global Ratings. The CEO sees this as a significant milestone, highlighting the company's strategic execution and cost optimization to enhance financial flexibility. Recent developments include the divestment of operations in the Philippines and a successful bank refinancing.

Standard & Poor's upgrades Cemex's credit rating to Investment Grade (BBB-) due to strong financial performance and deleveraging strategy. Cemex's EBITDA grew 25% in 2023, with Free Cash Flow doubling.

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Cemex (CX) unveiled the first fully electric ready-mix truck in the Middle East during COP28 in Dubai. The truck is fully operational, equipped with a state-of-the-art 350kWh battery, and has the capacity to transport a full load of concrete. Cemex is actively collaborating with partners and manufacturers to scale hybrid and zero-emission vehicles, while also adding trucks powered by renewable diesel and natural gas to reduce carbon emissions in the short term.

Cemex (CX) unveiled the first fully electric ready-mix truck in the Middle East during COP28 in Dubai. The company now has over 1,000 heavy-duty trucks powered with lower-carbon fuels, part of its transition strategy to decarbonize its global fleet. Cemex aims to become a net-zero CO2 company by 2050. The company has reduced approximately 5% in CO2 emissions from its owned fleet and is committed to reducing third-party transport emissions by 30% by 2030. Cemex is actively collaborating with multiple original equipment manufacturers to advance net-zero transportation technologies.

Cemex is supplying a specialty mix of Vertua concrete products for the construction of Rise Tower in Monterrey, Mexico, which is expected to become the tallest tower in Latin America. The project aims to achieve the highest standards of sustainable construction and become the tower with the most environmental certifications in Mexico.