Holcim upgrade 2030 climate targets
Company accelerates commitment to decarbonizing building in line with SBTi 1.5°C framework
HOLCIM have launched their upgraded 2030 climate targets, validated by the Science Based Targets initiative (SBTi), in line with its sector’s new 1.5°C science-based framework. With these upgraded targets, Holcim confirm their commitment to decarbonize building in line with the most advanced science.
Luiz Amaral, chief executive officer of the Science Based Targets initiative, said: ‘Today, we welcome Holcim’s science-based targets consistent with limiting warming to 1.5°C. The ambition of Holcim’s targets is aligned with the need for the global economy to rapidly cut emissions. This company is setting an example for the rest of its industry, and I urge others in its sector to set their own targets too.’
Holcim chief executive officer Jan Jenisch commented: ‘At Holcim, we are committed to decarbonizing building for a net-zero future. When I see the thorough decarbonization plans we are deploying across our business, I’m confident that we will decarbonize building at scale.
‘We take a rigorous, science-driven approach on this journey and partnered with the Science Based Targets initiative to create our industry’s first 1.5°C-aligned framework. I am delighted that we have now upgraded our 2030 climate targets accordingly.’
In their new 2030 targets, Holcim have upgraded their goal to reduce scope 1 and 2 emissions per tonne of cementitious materials by 25% by 2030, from a 2018 base year. The company commits to reduce gross scope 1 greenhouse gas (GHG) emissions by 22.4% per tonne of cementitious material and scope 2 GHG emissions by 65% per tonne of cementitious materials within the same time frame*.
For other indirect emissions on scope 3, Holcim commit to reducing CO2 per tonne of clinker and cement purchased from third parties by 25.1% from a 2020 base year.
Holcim’s new 2030 targets and base years have been adjusted to reflect recent optimization of the company’s portfolio. Full details of Holcim’s climate journey will be disclosed in their upcoming Climate Report, to be submitted for shareholder approval at the company’s next AGM on 4 May 2023.
On their net-zero journey, Holcim say they are working on all levers to decarbonize building at scale, from their operations with green energy and mobility, to products such as ECOPact green concrete and ECOPlanet green cement, driven by low-emission raw materials such as construction and demolition waste.
For the emissions they cannot avoid, Holcim are developing next-generation technologies such as their range of more than 30 carbon capture, utilization, and storage projects, recycling their CO2 emissions into everything from plastics to fuel for aviation.
*The target boundary includes land-related emissions and removals from bioenergy feedstocks.