CEMEX expands executive compensation link to climate action - CEMEX expands executive compensation link to climate action
May 10, 2022
- CEMEX reinforces its commitment to carbon neutrality through its Annual Executive Variable Compensation.
- Compensation plan linked to climate action will be expanded to include over 4,500 executives in key positions around the world.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that its Executive Variable Compensation program, which includes progress on its ambitious carbon reduction goals as a variable, will be expanded to cover more than 4,500 executives. This initiative is part of the company's Future in Action program, which focuses on reducing the carbon footprint of CEMEX's operations and products to become a net-zero CO2 company by 2050.
Beginning this year, the CO2 emissions component will have an impact that will range from -10% to +10% in the total cash payout of the Annual Executive Variable Compensation.
“We are steadfast in our commitment to become a net-zero CO2 company by 2050,” says Fernando A. Gonzalez, CEO of CEMEX. “This decisive step reinforces our commitment, raises awareness and aligns our entire organization towards our carbon action roadmap and building a greener, more sustainable company.”
CEMEX’s 2030 goals include a detailed roadmap that has been validated by the Science Based Targets Initiative (SBTi) according to the well-below 2°C scenario and serve as an important milestone on the road to carbon neutrality in 2050. The company has already shown significant progress against these goals. In 2021, CEMEX achieved its largest annual reduction in CO2 emissions in its history, decreasing emissions by 4.7% versus the previous year.
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
CEMEX assumes no obligation to update or correct the information contained in this press release. 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. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations, including reaching any goals stated in this release. 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.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta