GCC’s Emissions Reduction Target Validated by the Science-Based Target Initiative
News provided byGCC, S.A.B. de C.V.
Feb 02, 2023, 5:21 PM ET
CHIHUAHUA, Mexico, Feb. 02, 2023 (GLOBE NEWSWIRE) -- GCC, S.A.B. de C.V. (BMV: GCC* or “the Company”), a leading producer of cement and concrete in the United States and Mexico, announced today that its 2030 greenhouse gas (GHG) emissions reduction target has been validated by the Science-Based Target initiative (SBTi).
GCC’s target aims to reduce scope 1 and 2 emissions by 30.7% and 57% per ton, respectively, of cementitious materials by 2030, compared to a 2015 base year. GCC further commits to reduce absolute scope 3 GHG emissions from use of sold products by 37.5% within the same timeframe. This is a reflection of the company's commitment to keep global temperature increases well below 2 degrees Celsius.
Furthermore, GCC's validated target is the sustainability performance target (SPT) of its US$500 million Sustainability-Linked Bond issued in January 2022. An independent reviewer will verify the target annually, and performance results will be available on GCC's website for public access.
Gina Lotito, GCC’s VP of Sustainability and Environment said: "We are proud and excited to be a catalyst of progress towards a low-carbon future. Our laser-focus on our climate change strategy and emphasis on reducing CO2 emissions is a testament to our commitment to creating a sustainable future. While we celebrate our achievements, we acknowledge that there is still much work to be done and remain steadfast in our mission."
GCC is a leading supplier and producer of cement, concrete, aggregates, and construction‐related services in the United States, Mexico and Canada, with an annual cement production capacity of 5.8 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.
This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, legal, public health crises including COVID-19, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; and pricing, business strategy and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.
For further information, contact:
GCC Investor Relations
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