CEMEX joins the UN CFO Taskforce to promote sustainability goals - CEMEX joins the UN CFO Taskforce to promote sustainability goals
December 20, 2021
- The CFO Taskforce for the SDGs aims to unlock private capital and create a market for mainstream SDG investments.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has joined the United Nations (“UN”) Global Compact CFO Taskforce for the Sustainable Development Goals (“SDG”) as the company continues to align its financial strategy to its leadership in addressing climate change.
The CFO Taskforce for the SDGs has three main goals: to engage the global CFO community, to integrate the SDGs into strategy, financing, and investor relations, and to create a broad sustainable finance market. Members of the UN Global Compact CFO Taskforce for the SDGs aim to:
- Provide the global development community with a modern view of how capital markets can contribute to financing the SDGs, at scale.
- Develop innovative financial instruments and contribute to a broad market of diversified investment opportunities for the SDGs.
- Support companies in securing the financial capital needed to implement the SDGs and transform their business and production models.
- Connect companies’ SDG investments with increasingly impact-oriented investors.
- Develop internal tools and resources to embed sustainability in corporate finance, including strategic alignment, impact measurement, reporting, investor communication, and financial innovation.
- Promote partnerships between CEOs and CFOs and help translate sustainability strategies into financial language for investors and rating agencies.
“Climate change is perhaps the biggest challenge of our times, affecting lives and disrupting economies. Only by aligning our financial and climate action strategies will we be able to overcome this challenge,” said Maher Al-Haffar, CFO of CEMEX. “At CEMEX, we share the beliefs embodied in the CFO Principles and are honored to join the UN Global Compact CFO Taskforce for the SDGs through which we will actively contribute to the innovation of corporate finance that will enable the building of a more resilient future for all.”
The CFO Taskforce for the SDGs is working with the whole investment value chain, including investors, banks, development finance institutions, credit rating agencies, and sustainability assessment firms, to create a broad, liquid, and efficient market for SDG investments and capital flows. Efficient capital markets can encourage companies to experiment with and improve upon a wide range of sustainability solutions, and over time, help identify the most effective ways to contribute to the SDGs.
To drive the commitment of billions, and potentially trillions, of corporate finance towards the SDGs, the UN Global Compact CFO Taskforce has created a comprehensive management and governance framework, The CFO Principles for Integrated SDG Investments and Finance.
About the UN Global Compact CFO Taskforce
The UN Global Compact CFO Taskforce was launched by the UN Global Compact in December 2019 with a small group of leading CFOs to build on the work developed by the Financial Innovation for the SDGs Action Platform. Its goal is to inspire a new meaning for the role of CFOs as the architects of long- term sustainable value creation by raising awareness of the transformative impact of corporate finance across financial markets, the global economy and society as a whole. It also aspires to create a market for corporate SDG investments and finance that is sufficiently diverse and transparent to channel trillions of dollars of financial investments towards effective private-sector solutions for the Sustainable Development Goals. The CFO Taskforce provides CFOs with a platform to share ideas, develop new concepts and frameworks, and provide recommendations to unlock private capital and create a market for mainstream SDG investments. For more information about the UN Global Compact CFO Taskforce please visit www.cfotaskforce.org.
About the UN Global Compact
As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 13,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world. For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org.
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: 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. 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. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta