10 November 2022
SBTi validates TITAN’s updated GHG emissions reduction
targets as consistent with the 1.5oC scenario
TITAN Group announces that its updated 2030 greenhouse gas (GHG) emissions reduction targets have been validated by the Science Based Targets initiative (SBTi) as consistent with the levels required to limit the global temperature increase to 1.5°C.
With its new science-based targets, TITAN seeks to address not only direct (Scope 1) emissions and indirect emissions from the generation of purchased electricity (Scope 2), but also other indirect emissions of the supply chain (Scope 3).
More specifically, by 2030 TITAN Group commits:
- to reduce Scope 1 (gross), 2 and 3 (gross) GHG emissions covering produced and purchased cement and clinker, by 25.1% per ton of cementitious product sold by 2030, from a 2020 base year*. Within that target, TITAN Group commits:
- to reduce Scope 1 GHG emissions (gross) by 22.8% per ton of cementitious product (from a 2020 base year)
- to reduce Scope 2 GHG emissions by 58.1% per ton of cementitious product (from a 2020 base year)
- to reduce absolute Scope 3 GHG emissions from the use of sold fossil fuels by 42% (from a 2021 base year)
TITAN Group is well positioned to deliver on its updated science-based 2030 GHG emissions reduction targets and its commitment to deliver carbon-neutral concrete by 2050 with more than 90 decarbonization initiatives in the pipeline across its markets and a program of product launches that offer its customers lower carbon solutions to build more sustainably.
*The target boundary includes land-related emissions and removals from bioenergy.
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. For more information, visit the Group’s website at www.titan-cement.com.
Titan Cement International SA published this content on 10 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2022 12:38:11 UTC.
Technical analysis trends TITAN CEMENT INTERNATIONAL SA
|Short Term||Mid-Term||Long Term|
Income Statement Evolution
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|Last Close Price||11,96 €|
|Average target price||15,84 €|
|Spread / Average Target||32,4%|