TITAN Cement Group, underscoring its enduring commitment to sustainability and value creation for all, released its Environmental, Social and Governance (ESG) targets for 2025 and beyond. The targets include an updated, more ambitious CO2 reduction goal for 2030, aligned with the vision of the European Green Deal to achieve climate neutrality by 2050.
“We are building on our strong track record on sustainability and aspire to increase our positive impact on people, society, and the environment. We are committing to ambitious targets that aim to generate more value for all our stakeholders and set the foundations for sustainable growth in a carbon-neutral and digitalised world,” said Leonidas Canellopoulos, Chief Sustainability Officer of TITAN Cement Group.
TITAN has set 20 targets that focus on four pillars which are defined as material by its stakeholders, all underpinned by good governance, transparency, and business ethics:
- De-carbonisation and digitalisation, aiming to transform the business, focusing on resilience, innovation, and on building solutions to serve customers more efficiently as TITAN moves towards a carbon-neutral, digital world.
- Growth-enabling work environment, aiming to cultivate an inclusive culture with equal opportunities for TITAN’s people to grow professionally within a safe and healthy work environment
- Positive local impact, aiming to enable the company’s business operations and its people worldwide to contribute to the prosperity of local communities with respect to their social and environmental concerns
- Responsible sourcing, aiming to empower TITAN’s business ecosystems to incorporate sustainability considerations in business decisions and daily behaviours while using natural resources responsibly
The following are some highlights of the targets:
- New CO2 reduction target at -35% by 2030, compared to 1990 levels, embracing the vision of the European Green Deal to achieve climate neutrality by 2050. Reduction of emissions across the supply chain by increasing the use of alternative fuels, accelerating efforts in energy efficiency, developing low carbon products, and adopting innovative technologies and solutions.
- Commitment to be among the global leaders in safety, with zero fatalities and an employee LTIFR performance among the three best in the cement sector.
- Emphasis on diversity and inclusion, employee training and wellbeing. Further promotion of equal opportunities and increase of female participation in leadership. Upskilling and reskilling for all employees and implementation of wellbeing initiatives in all countries.
- Increase of positive local impact with environmental, social and economic targets. Strong performance in air emissions. Quarry rehabilitation and diversity management plans. Community engagement plans aligned with stakeholder expectations and 2/3 of total spend directed to local suppliers and communities.
- Integration of circular economy practices for a more sustainable supply chain, ensuring that 70% of key suppliers meet TITAN ESG supplier standards.
- Emphasis on water conservation and recycling, energy efficiency, and diversion of waste from landfills.
TITAN’s ESG targets are aligned with the UN SDGs 2030. The performance against them will be verified by independent auditors, while the Scope 1 and 2 emissions targets will be validated by the Science Based Targets Initiative (SBTi). Progress will be reported annually through the Integrated Report to ensure transparency of communication with the Group’s stakeholders.
Read the article online at: https://www.worldcement.com/europe-cis/24032021/titan-cement-group-accelerates-its-sustainability-efforts/