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    HOLN   CH0012214059

HOLCIM LTD

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LafargeHolcim : raises its target for reducing carbon emissions

09/20/2020 | 07:19pm EDT
The logo of LafargeHolcim, the world's largest cement maker, is seen in Zurich

LafargeHolcim has committed to further reducing its carbon emissions by 2030, the world's largest cement maker said on Monday, as investors and customers increasingly demand companies curb their environmental impact.

The Swiss company wants to reduce the amount of CO2 produced for every tonne of cement it makes by 21% as part of the global goal to limit temperature change to 1.5 degrees Celsius.

It wants to reduce the CO2 created for every tonne of cement to 475 kg per tonne, down from its previous target of 520 kg. Last year the figure was 561 kg - equivalent to around 120 million tonnes of C02.

Investors are pushing companies to lower their emissions, with insurers and pensions funds taking environmental impact into account when making their investment decisions.

LafargeHolcim's shares have lost 11.2% over the past 12 months, underperforming the Stoxx construction and materials index which is 0.4% lower

"Investor concerns regarding carbon emissions are holding back LafargeHolcim shares quite significantly," said Bernd Pomrehn, an analyst at Bank Vontobel.

"For sure the level of carbon emission is becoming an increasingly important topic for investors," Magali Anderson, chief sustainability officer at LafargeHolcim, told Reuters.

LafargeHolcim said it would increase the use of low carbon and carbon neutral cements it makes. It will reuse 100 million tonnes of waste to heat its kilns and also increase the amount of recycled materials in cements.

The goals will be monitored by Science Based Targets Initiative, a collaboration among green investment adviser CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature.

LafargeHolcim was taking the initiative to help protect the environment, but there were also good business reasons to do it, Anderson said.

Using alternative fuels instead of traditional fossil fuels was cheaper, while customer demand for low-carbon cement was rising, she said.

By John Revill


© Reuters 2020
Stocks mentioned in the article
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Sales 2021 25 910 M 28 208 M 28 208 M
Net income 2021 2 425 M 2 640 M 2 640 M
Net Debt 2021 9 747 M 10 611 M 10 611 M
P/E ratio 2021 14,4x
Yield 2021 3,60%
Capitalization 34 415 M 37 458 M 37 468 M
EV / Sales 2021 1,70x
EV / Sales 2022 1,54x
Nbr of Employees 67 409
Free-Float 85,3%
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Number of Analysts 23
Last Close Price 56,26 CHF
Average target price 65,82 CHF
Spread / Average Target 17,0%
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Managers and Directors
NameTitle
Jan Jenisch Chief Executive Officer & Director
Géraldine Picaud Chief Financial Officer
Beat W. Hess Chairman
Keith Carr Head-Legal & Compliance
Adrian W. Loader Independent Director
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