After a thorough assessment of Cemex’s environmental, governance and social practices, the IFC will grant Cemex funding for projects designed to enhance environmental performance that were completed in 2014 and 2015 as well as ongoing during 2016 which are part of the capital expenditure plan previously communicated by Cemex.
Approximately 60% of the funds will be allocated for projects related to the reduction of Cemex’s greenhouse gas emissions, while the remainder of the funds will be allocated to cover improvements to Cemex’s overall air emission controls.
“IFC’s support underscores and validates Cemex’s sustainability efforts and vision,” said Fernando A Gonzalez, chief executive, Cemex. “We are very proud and encouraged by this relationship, and we continue to seek opportunities for further collaboration.”
“IFC’s financing to Cemex sustainable programs is part of our commitment to invest in critical climate-smart solutions across emerging markets,” said Liz Bronder, IFC director for Latin America and the Caribbean. “We are encouraged by Cemex’s innovative initiatives and look forward to the company’s leadership expanding the climate change agenda among global key players”.