News and Press Releases

13/10/2021

TITAN Cement Group signs the “Business Ambition for 1.5°C” Commitment Letter and joins the “Race to Zero” campaign of the UN

TITAN Cement Group signed the “Business Ambition for 1.5°C” Commitment, a global campaign led by the Science Based Targets initiative (SBTi)* in partnership with the UN Global Compact and the We Mean Business coalition, joining a number of leading companies worldwide that are committed to keeping global warming to 1.5°C and reaching net-zero emissions by 2050.

By signing the Business Ambition for 1.5°C, TITAN also joined the United Nations Framework Convention on Climate Change (UNFCC) “Race to Zero” global campaign, which encourages more companies, governments and financial and educational institutions to come together and act for a healthier planet with zero carbon emissions, ahead of the COP26.

TITAN was one of the first cement companies worldwide to have its CO2 emissions reduction targets validated by the SBTi as consistent with levels required to meet the goals of the Paris Agreement, announced as part of the Group’s ESG targets for 2025 and beyond. By joining the SBTi Business Ambition for 1.5°C the Group is aligning its climate mitigation targets with the most ambitious aim of the Paris Agreement and with what science dictates is necessary to reach net-zero global emissions by 2050 in order to limit global warming to 1.5°C.

The Group aspires to deliver on its CO2 reduction targets by increasing the use of alternative fuels, accelerating its efforts in energy efficiency, developing low-carbon products, and adopting innovative technologies and solutions. Through the participation in European and international consortia, as well as through collaborations in R&D projects, TITAN will continue to develop low-carbon cementitious products and pilot carbon capture technologies in its plants, actively contributing to the industry’s ambition for a carbon-neutral future.

* The Science Based Targets initiative (SBTi) mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments. The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

About TITAN Cement Group

TITAN Cement Group is a multiregional cement and building materials producer. Business activities cover the production, transportation and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Group employs about 5,400 people and is present in more than 15 countries, operating cement plants in 10 of them, the USA, Greece, Albania, Bulgaria, North Macedonia, Kosovo, Serbia, Egypt, Turkey and Brazil. Throughout its history the Group has aspired to serve the needs of society, while contributing to sustainable growth with responsibility and integrity.

Titan Cement International SA, is the parent company of TITAN Cement Group. For more information, visit the Group’s website at www.titan-cement.com.

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