European investment funds are calling on the cement industry to reduce greenhouse gas emissions. „The cement industry must drastically reduce its contribution to climate change,“ said the head of the Institutional Investors Group on Climate Change, which has more than 170 members, Stephanie Pfeifer, today.
„Business-critical topic“
„This is ultimately a business-critical issue for the industry.“ The association mainly owns European pension funds and asset managers who together manage about $ 2 trillion in assets – including BNP Paribas Asset Management, Sarasin & Partners and Hermes EOS.
The investor group has written to cement or building materials companies, including the Irish CRH, the French-Swiss LafargeHolcim and the French St. Gobain. In it she demands that by 2050 the emission of carbon dioxide be reduced to zero percent. The German HeidelbergCement have already taken over this goal.
Cement industry as a major polluter
As extreme weather conditions and natural disasters related to climate change increase worldwide, some asset managers are urging heavy polluters to make a faster transition to a cleaner economy.
According to the International Energy Agency, the cement industry accounts for seven percent of global greenhouse gas emissions. If the industry were a country, it would be the third largest issuer in the world after the US and China.
