recently announced a new commitment to invest 2 billion Swiss francs ( $2.2 billion) in carbon capture technology by 2030, focusing on mature technologies and promising to capture more than 5 million tons of carbon dioxide annually.
The pledge was announced at the launch of Holcim's 2023 Climate Report, which also included an upgraded target to reduce Scope 1 (direct carbon emissions by companies) by 22% by 2030 (420 kg per tonne of cement, compared to 475 kg previously). Holcim said its 2030 target is consistent with the 1.5 C temperature control target and has been demonstrated by the Scientific Carbon Target Initiative (SBti). Holley is the first building materials group in the world to sign the "Corporate Ambition Helps 1.5 C Temperature Control Action (Business Ambition for 1.5 C)" in 2020.
Building materials are a major source of global greenhouse gas emissions. Cement is the raw material of concrete. Cement production accounts for 8% of global carbon emissions. Every ton of cement produced will produce more than 900 kilograms of carbon dioxide emissions. Jan Jenisch, CEO
of Holcim, said, "Holcim is accelerating its climate action, upgrading its net zero target and making a clear commitment to invest 2 billion Swiss francs in CCUS technology by 2030.". We are committed to expanding low-carbon and recycling construction, while making buildings more sustainable in use, to build cities that serve people and the planet.
Hoclim outlined several initiatives to achieve its goals, including the adoption of decarbonized materials in its product formulations, the utilization of more alternative and renewable energy sources, and the addition of low-carbon building solutions. In its climate report, Holcim highlighted the importance of developing and integrating carbon capture utilization and storage (CCUS) into the cement manufacturing process, where direct emissions of CO2 come from raw materials that cannot be replaced on a large scale. The company says its CCUS projects range from recycling carbon dioxide at its plants to raw materials for cement with low carbon emissions to applications in agriculture or jet fuel.
Holcim also revealed that it reduced its CO2 emissions per unit of revenue by 21% in 2022 and committed to reducing them by more than 10% in 2023, while recycling 6.8 million tonnes of construction and demolition waste into new building solutions, putting the company on track to exceed its 10 million tonne target by 2025. Magali Anderson, chief sustainability and innovation officer
at Holcim, said, "We have taken a science-driven approach to climate action, upgraded our 2030 target to align with SBti's 1.5 ° C temperature control target, and are pushing the boundaries of innovation to be at the forefront of low-carbon and circular buildings.". "I am encouraged by the progress we have made in accelerating the transition to sprite emissions at our facilities.".
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