Holcim to Invest CHF 2 Billion in Carbon Capture Technology
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- CO2 per net sales reduction of 21% in 2022 with goal to reduce by over 10% in 2023
- Upgraded 2030 climate targets in line with SBTi 1.5°C framework, validated by Science Based Targets initiative
- CHF 2 billion investment in carbon capture, utilization and storage projects by 2030 to capture more than 5 million tons CO2 per year
- 6.8 million tons of construction and demolition waste recycled into new building solutions in 2022, on track to exceed 2025 target of 10 million tons
- Publication of second climate report, giving shareholders a say on the company’s climate strategy
Holcim shares the acceleration of its net zero journey with the publication of its second climate report, including its upgraded 2030 climate targets aligned with the 1.5°C framework and validated by the Science Based Targets initiative. Accelerating its net zero ambition, Holcim aims to reach 420 kg CO2 per ton of cementitious materials by 2030. Making progress in carbon capture utilization and storage (CCUS), Holcim commits to invest a cumulative CHF 2 billion by 2030 in mature technologies to capture more than 5 million tons of CO2 per year.
Jan Jenisch, CEO: “Holcim is accelerating its climate action with upgraded net zero targets and a clear commitment to invest CHF 2 billion in CCUS technologies by 2030. We are committed to scaling up low-carbon and circular construction while making buildings more sustainable in use to build cities that work for people and the planet.”
See related article: United Announces $15 Million Investment in Carbon Capture Company Svante
Magali Anderson, Chief Sustainability & Innovation Officer: “Taking a science-driven approach to climate action, we upgraded our 2030 targets to be in line with the SBTi’s 1.5°C framework and are pushing the boundaries of innovation to be at the forefront of low-carbon and circular building. I am encouraged by the progress we are making across our sites to accelerate the shift to net zero.”
Delivering against all its levers, Holcim is deploying decarbonized materials in its product formulation, adopting more alternative and renewable energy, and scaling up its low-carbon building solutions, from ECOPact to ECOPlanet. Driving circular construction across its business, Holcim recycled 6.8 million tons of construction and demolition waste into new building solutions, on track to exceed the 2025 target of 10 million tons. Continuing the momentum on its net zero journey, Holcim increased its green investments by 15% in 2022, reaching CHF 403 million. With its successful transformation, Holcim reduced its CO2 per net sales by 21% in 2022 and commits to reduce by over 10% in 2023.
Holcim’s Climate Report will be put to an advisory vote at its Annual General Meeting on 4 May 2023, reflecting the company’s commitment to give its shareholders a say on the company’s climate strategy. Holcim’s Climate Report can be found here.
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