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    ALPEK A   MX01AL0C0004

ALPEK, S.A.B. DE C.V.

(ALPEK A)
  Report
End-of-day quote Mexican Stock Exchange  -  2022-09-27
25.56 MXN   +2.77%
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ALPEK B de C : receives SBTi approval for its emissions reduction target

07/07/2022 | 04:24pm EDT

Reaffirming its commitment to combat climate change

Monterrey, N.L., Mexico. July 7, 2022 - Alpek, S.A.B. de C.V. ("Alpek" or "the Company") announced today that its near-term science-based target has been approved by the Science Based Targets initiative1 (SBTi). The SBTi has validated that the corporate greenhouse gas (GHG) emissions reduction target submitted by Alpek is in conformance with the SBTi Criteria and Recommendations (version 4.2).

The SBTi's Target Validation Team has classified the Company's scope 1 and 2 target ambition and has determined that it is in line with limiting warming to well-below 2°C trajectory which guarantees the Company's efforts to combat climate change. As part of the near-term science-based target, Alpek commits to reduce absolute scope 1 and 2 GHG emissions by 27.5% by 2030 from a 2019 base year. Alpek also commits to reduce scope 3 emissions by 13.5% within the same time frame.

"We are pleased to have received this approval from the SBTi as this reaffirms that Alpek's emissions reduction target is feasible and well-aligned with the Paris Agreement," stated José de Jesús Valdez, Alpek's CEO. "We are confident that by transitioning to fully renewable sources of electricity, improving our energy usage, and generating emission-free steam, among other initiatives, Alpek will be well on its way to meet its targets and continue its path towards carbon neutrality by 2050."

Alpek receives SBTi approval for its emissions reduction target

Reaffirming its commitment to combat climate change

Monterrey, N.L., Mexico. July 7, 2022 - Alpek, S.A.B. de C.V. ("Alpek" or "the Company") announced today that its near-term science-based target has been approved by the Science Based Targets initiative1 (SBTi). The SBTi has validated that the corporate greenhouse gas (GHG) emissions reduction target submitted by Alpek is in conformance with the SBTi Criteria and Recommendations (version 4.2).

The SBTi's Target Validation Team has classified the Company's scope 1 and 2 target ambition and has determined that it is in line with limiting warming to well-below 2°C trajectory which guarantees the Company's efforts to combat climate change. As part of the near-term science-based target, Alpek commits to reduce absolute scope 1 and 2 GHG emissions by 27.5% by 2030 from a 2019 base year. Alpek also commits to reduce scope 3 emissions by 13.5% within the same time frame.

"We are pleased to have received this approval from the SBTi as this reaffirms that Alpek's emissions reduction target is feasible and well-aligned with the Paris Agreement," stated José de Jesús Valdez, Alpek's CEO. "We are confident that by transitioning to fully renewable sources of electricity, improving our energy usage, and generating emission-free steam, among other initiatives, Alpek will be well on its way to meet its targets and continue its path towards carbon neutrality by 2050."

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Disclaimer

Alpek SAB de CV published this content on 07 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2022 20:23:12 UTC.


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Financials
Sales 2022 197 B 9 701 M 9 701 M
Net income 2022 15 353 M 756 M 756 M
Net Debt 2022 28 503 M 1 403 M 1 403 M
P/E ratio 2022 3,58x
Yield 2022 8,54%
Capitalization 53 852 M 2 650 M 2 650 M
EV / Sales 2022 0,42x
EV / Sales 2023 0,42x
Nbr of Employees 7 232
Free-Float 99,5%
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Mean consensus BUY
Number of Analysts 15
Last Close Price 25,56 MXN
Average target price 35,63 MXN
Spread / Average Target 39,4%
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Managers and Directors
José de Jesús Valdez Simancas Chief Executive Officer
José Carlos Pons de la Garza Chief Financial Officer & Head-Administration
Armando Garza Sada Director
Francisco José Calderón Rojas Independent Director
Andrés Enrique Garza Herrera Independent Director
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