On Monday, the world’s biggest cement producer, LafargeHolcim, reported extending its carbon emission curb target by 2030 as customers and investors show lucrative interest to environment-friendly firms.
The Switzerland based firm sets the target to lower the CO2 created by 21% for every tonne of cement it produces. The move is a part of the global goal to halt the temperate change to 1.5 degree Celsius.
Customers and investors are putting a subtle force on firms to reduce their carbon footprints, with majorly pension funds and insurers considering the environmental impact when making their investment decisions.
LafargeHolcim wants to lower its carbon dioxide emission to 475 kg per tonne cement created. The set target is lower than its previous one, i.e. 520 kg, which is further down from the last year figure of 561 kg.
Meanwhile, the organisation’s stock prices are 11.2% down since 52 weeks and are performing worse than the Stoxx construction and materials index, which is 0.4% down.