Votorantim Cimentos earns an A score in climate change from CDP

Based on data reported through the CDP Climate Change 2023 Questionnaire, Votorantim Cimentos earned an A score, placing the company among a small number of organisations that are ranked at the top of the list and exemplify best practices in the market.

CDP holds the largest environmental database in the world and its scores are widely used to inform investment decisions in support of a zero-carbon, sustainable and resilient economy. In 2023, more than 740 financial institutions holding over US$136 trillion in assets called on companies to disclose their environmental impacts, risks and opportunities through the CDP platform. A record 23 000 companies responded to the questionnaire last year. CDP uses a detailed and independent methodology to score companies from A to D based on the level of comprehensiveness in disclosure, awareness and management of environmental risks, and incorporation of best practices, such as setting ambitious and meaningful targets. Companies that do not disclose their impacts or provide insufficient information receive an F score.

“Earning the highest score from CDP is something we are very proud of. We work daily to achieve our goals in line with our 2030 Sustainability Commitments and the UN Sustainable Development Goals (SDGs). Tackling the negative effects of climate change is at the core of our strategy and we recognise the role, importance and relevance of our decarbonisation journey. Between 1990 (baseline year used by the cement industry) and 2022, Votorantim Cimentos reduced its CO₂ emissions per tonne of cement produced by 24%”, said Álvaro Lorenz, global director of Sustainability, Institutional Relations, Product Development and Engineering at Votorantim Cimentos.

Decarbonisation Journey

Votorantim Cimentos’ decarbonisation strategy is based on four main pillars: co-processing (the substitution of fossil fuels used in cement production kilns for other materials, especially biomass and waste); the use of cementitious materials, including by-products from other industries, to replace clinker (the main source of CO₂ emissions in the cement production process); energy efficiency and the use of renewable energy sources, leveraging company-owned hydroelectric power plants and investments in solar and wind energy; and the development of technologies (use of innovative processes, new materials, carbon capture, use and storage, dematerialisation of the value chain, partnerships with various businesses and academic organisations to increasingly optimise resources and reduce carbon intensity).

In December 2022, Votorantim Cimentos announced a new decarbonisation target for 2030, approved by the Science Based Target initiative (SBTi), of 475 kg of CO₂ per tonne of cement. The new target is 8.7% lower than the target announced as part of its 2030 Sustainability Commitments (520 kg of CO₂ per tonne of cement). The company also has the ambition to produce carbon-neutral concrete by 2050.

“Congratulations to all companies on the CDP A List and those that have started or accelerated their journey toward data transparency in 2023 – we saw a 24% increase in disclosures last year and this trajectory is to be applauded. Only by laying the groundwork for disclosure can companies demonstrate that they are serious about the vital role they play in ensuring a net-zero-emission and nature-positive future. Earning a place on the A List is about more than just scores. It is an indication of high-quality data, which provides companies with a holistic view of their environmental impact, serves as a basis for transition plans and – crucially – enables them to pursue their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what environmental leadership represents, the work of A List companies is never fully complete. We hope to see all companies transform their commitments into more and more meaningful and effective actions”, said Sherry Madera, CEO of CDP.

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Read the article online at: https://www.worldcement.com/the-americas/07022024/votorantim-cimentos-earns-an-a-score-in-climate-change-from-cdp/