07/02/2024
TITAN achieves top “A” CDP score for climate leadership
For the second consecutive year, TITAN has earned a place on the globally recognized “A” List of the carbon disclosure non-profit organization CDP, in recognition of its leadership in corporate transparency and performance on climate change. Furthermore, the company has achieved an “A-” score for water security management. TITAN is one of only three companies in its sector to attain top scores in both categories.
This consistent recognition at the highest level underscores TITAN's commitment to driving sustainability, in line with its “2026 Green Growth” strategy. The company, which is among the 346 companies worldwide across all sectors with an “A” on climate out of over 21,000 assessed, remains at the forefront of decarbonization and sustainability initiatives within the building materials industry, making significant contributions to the global pursuit of a net-zero, nature-positive world.
Since 2020, TITAN has reduced its CO2 emissions[1] by almost 10%. The year 2023 was marked by the launch of IFESTOS, the company’s groundbreaking Carbon Capture project in Greece and the largest of its kind in Europe, which will capture 1.9 million tonnes of CO2 annually.
The CDP scores add to other recent ratings, such as a consistent MSCI ESG Rating of “AA” for three consecutive years and Prime status in the ISS ESG corporate rating. Additionally, TITAN has earned a Silver badge from EcoVadis and secured high rankings in assessments by S&P Global - being in the top 10% of the construction materials industry- and Moody's Analytics.
--For more information on TITAN’s decarbonization science-based targets and roadmap towards achieving net zero by 2050, please visit: https://www.titan-cement.com/net-zero/
CDP
CDP is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 740 financial institutions with over $136 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Over 24,000 organizations around the world disclosed data through CDP in 2023, with more than 23,000 companies – including listed companies worth two thirds global market capitalization - and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative.
CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. A detailed and independent methodology is used to assess the companies, allocating a score of “A” to “D-“. The full methodology and criteria for the A List is available on CDP’s website at: https://www.cdp.net/en/companies/companies-scores.
About TITAN Group
TITAN Group is a leading international business in the building and infrastructure materials industry, with passionate teams committed to providing innovative solutions for a better world. With most of its activity in the developed markets, the Group employs over 5,500 people and with presence in more than 25 countries, holding prominent positions in the US, Europe, including Greece, the Balkans, and the Eastern Mediterranean. The Group also has a joint venture in Brazil. With a 120-year history, TITAN has always fostered a family- and entrepreneurial-oriented culture for its employees and works tirelessly with its customers to meet the modern needs of society while promoting sustainable growth with responsibility and integrity. TITAN has set a net-zero goal for 2050 and has its CO₂ reduction targets validated by the Science Based Targets initiative (SBTi) as aligned with the 1.5°C scenario. The company is listed on Euronext and the Athens Exchange. For more information, visit our website at www.titan-cement.com.
[1] Net specific CO2 emissions