Strengthening Caribbean Resilience Through Climate Action
Trinidad Cement Limited (TCL), a subsidiary of Cemex, S.A.B. de C.V. (“Cemex”) and the Caribbean Climate-Smart Accelerator (CCSA) announced in 2022 that they are working together in three key areas moving the Caribbean closer to resiliency and carbon neutrality. The objective is to spur additional development in these areas including greening Caribbean cement products, exploring alternative fuels and promoting more resilient housing. The importance of this action cannot be understated as the region becomes increasingly vulnerable to the effects of climate change. Supporting the Caribbean in building resilience and identifying new solutions is an important step in canvassing wider industry support to reach climate commitments.
The CCSA was conceptualized after the 2017 hurricane season where hurricanes Maria and Irma decimated parts of the Caribbean. Since its 2020 incorporation the CCSA has unlocked opportunities to transform the region’s economy through sustainable development by identifying local innovations capable of building resilience, and matching them with adequate funding sources and support. The CCSA has been involved in several regional initiatives to green construction including ongoing collaborations with CRDC Global and Partanna. This collaboration between CCSA and Cemex TCL will play an important role in helping the Caribbean region to become more climate resilient.
UNFCCC Global Ambassador in the Race to Resilience and Race to Zero and CCSA CEO Racquel Moses, stated “we are excited to collaborate with Cemex, they’re a regional and global leader who are actively demonstrating through “Future in Action” their commitment to climate action and our transition. Building our resilience and adapting to climate change is paramount. This collaboration with them, along with others addressing this most critical issue showcases our model of collaboration. The only way to pursue climate action is with all hands-on deck”.
Under its “Future in Action program”, Cemex announced a climate action target of a reduction of 47% of its CO2 emissions in cement by 2030. Additionally, the company set a goal for clean electricity consumption of 65% by 2030. These goals are the most ambitious in the cement industry and are verified by the Science-Based Targets Initiative (SBTi) according to the well-below 1.5°C scenario. Cemex expects these intermediate goals to assist the company in fulfilling its 2050 goal of being net-zero carbon in concrete.
“We continue to accelerate our commitment to become a net-zero CO2 company by 2050,” says Francisco Aguilera, Managing Director at Trinidad Cement Limited. “Exploring this collaboration reinforces our commitment and supports the region in building resilience and taking climate action for a greener, more sustainable Caribbean.”
Cemex (NYSE: CX) 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 use 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 Caribbean Climate-Smart Accelerator (CCSA)
CCSA is a Caribbean-based non-profit company whose purpose is to contribute to the establishment of the Caribbean as the world’s first climate-smart zone, strengthen the Caribbean’s readiness and response to disasters, and drive transformation of the Caribbean’s economy through fast-tracking sound public and private investment opportunities. CCSA builds and maintains relationships with a range of partners in order to achieve its objectives in terms of advancing climate action in the Caribbean. visit: www.caribbeanaccelerator.com