Fernando A. González, CEO of Cemex, elected President of the Global Cement and Concrete Association

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Fernando A. González, CEO of Cemex, has been elected as the new President of the Global Cement and Concrete Association (GCCA). The GCCA’s members account for 80% of global cement production capacity outside of China and have committed to achieving Net Zero CO2 emissions by 2050.

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• Fernando A. González, CEO of Cemex, has been elected as the new President of the GCCA, which represents 80% of global cement production capacity outside of China. This leadership change could potentially bring new initiatives and collaborations to reduce carbon emissions in the cement industry, which could have a positive impact on stock price.

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MONTERREY, Mexico--(BUSINESS WIRE)-- Fernando A. González, CEO of Cemex, has been elected as the new President of the Global Cement and Concrete Association (GCCA). The GCCA’s members account for 80% of global cement production capacity outside of China and have committed to achieving Net Zero CO₂ emissions by 2050.

Fernando A. Gonzalez, Cemex CEO and new President of the GCCA (Photo: Business Wire)

Mr. González, who has served as GCCA Vice-President since 2018, succeeds outgoing GCCA President Jan Jenisch. Mr. González has been CEO of Cemex since 2014; he joined the company in 1989 and has led several operational regions and corporate functions throughout his career.

“It is a great honor to be President of the GCCA, particularly as we enter this ‘decade to deliver,’ a period during which we must accelerate our decarbonization efforts,” said Fernando A. González. “My number one priority as the new President of the GCCA is to collaborate closely with governments and industry to evolve the regulatory framework in ways that promote a more circular, lower-carbon economy.”

The priorities for Mr. González during his two-year term include:

• Encouraging regulation that diverts municipal and industrial waste from landfills to waste to energy solutions including substitution of fossil fuels in cement kilns.
• Promoting building codes and norms that allow the extensive adoption of lower-carbon cement and concrete products.
• Establishing market-driving carbon pricing mechanisms that incentivize decarbonization and investment in carbon reduction technologies.
• Seek funding and alliances to develop new technologies that reduce carbon emissions in the cement manufacturing process and accelerate the development and scaling of carbon capture, utilization, and storage technologies.

Mr. González recently spoke at the United Nations General Assembly’s Private Sector Forum and urged the public and private sectors to collaborate more closely to develop the regulatory ecosystem so that the cement industry can reach its full potential as a contributor to a carbon neutral society.

About Cemex

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com

About the GCCA

The GCCA and its members account for 80% of global cement production capacity outside of China, as well as a growing number of Chinese manufacturers. Member companies have committed to reducing and ultimately eliminating CO2 emissions in concrete, which currently account for around 7% globally, through the implementation of the GCCA’s Concrete Future 2050 Net Zero Roadmap – the first heavy industry to set out such a detailed plan.

This press release is not a GCCA press release. Except as the context otherwise may require, references in this press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B. de C.V. and its consolidated subsidiaries (NYSE: CX). There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green’, ‘social,’ or ‘sustainable’ or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green’, ‘social’, or ‘sustainable’ or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex’s current expectations and projections about future events based on Cemex’s knowledge of present facts and circumstances and assumptions about future events, as well as Cemex’s current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex’s expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex’s most recent annual report and detailed from time to time in CEMEX’s other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex’s expectations, expected results, and/or third-party’s expectations referred in this press release not producing the expected benefits and/or results, in particular, as it refers to Cemex, any such benefits or results are subject to uncertainties, costs, performance and rate of implementation of technologies, some of which are yet not proven. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice, and readers should not use this press release to invest in the cement and concrete industry or in any participant in such industries. Cemex is not responsible, and expressly disclaims responsibility of any third-party projection, expectation, website, or webpage referenced to or accessible through this press release, nor for any quote from any third-party contained herein. Cemex acts in strict compliance with antitrust laws and as such, among other measures, maintains an independent pricing policy that has been independently developed and its core element is to price Cemex’s products and services based upon their quality and characteristics as well as their value to the Cemex’s customers. Cemex does not accept any communications or agreements of any type with competitors regarding the determination of Cemex’s prices for Cemex’s products and services.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231016461145/en/

Analyst and Investor Relations - Monterrey

Fabián Orta

+52 (81) 8888-4327

ir@cemex.com

Analyst and Investor Relations - New York

Scott Pollak

+1 (212) 317-6011

ir@cemex.com

Media Relations

Jorge Pérez

+52 (81) 8259-6666

jorgeluis.perez@cemex.com

Source: Cemex

FAQ

Who is the new President of the Global Cement and Concrete Association?

Fernando A. González, CEO of Cemex.

What is the goal of the GCCA?

The GCCA's goal is to achieve Net Zero CO2 emissions by 2050.

What percentage of global cement production capacity do GCCA members represent?

GCCA members represent 80% of global cement production capacity outside of China.

What are the priorities of the new GCCA President, Fernando A. González?

The priorities include diverting waste to energy solutions, promoting lower-carbon cement and concrete products, establishing carbon pricing mechanisms, and developing technologies to reduce carbon emissions in cement manufacturing.

What did Fernando A. González urge at the United Nations General Assembly's Private Sector Forum?

He urged the public and private sectors to collaborate more closely to develop the regulatory ecosystem for the cement industry to contribute to a carbon neutral society.