GCC Commits to Reduce CO2 Emissions

CHIHUAHUA, Mexico, Jan. 30, 2020 (GLOBE NEWSWIRE) -- Grupo Cementos de Chihuahua, S.A.B. de C.V. (“GCC” or the “Company”), (BMV: GCC*), a leading supplier and producer of cement and concrete in the United States, Mexico and Canada, today announced its commitment to setting greenhouse gas reduction targets in line with climate science by joining the Science Based Targets initiative (SBTi).

GCC´s commitment is to set science-based emission reduction targets in line with the level of decarbonization required to keep global temperature increase well-below 2 degrees Celsius compared to pre-industrial temperatures, as described in the latest Special Report of the Intergovernmental Panel on Climate Change (IPCC).

Heidi Huusko, Senior Manager of Environment and Climate at the United Nations Global Compact, one of the Science Based Targets initiative partners said: “We congratulate GCC for their commitment to set targets aligned with the ambition of the Paris Agreement to create a climate-safe future. We hope it inspires other companies in the region to join the initiative”.

“By joining the SBTi, GCC will ensure that the company´s low-carbon transformation is aligned with climate science and is a further reflection of our unwavering commitment to implement global best practices related to sustainability”, said Enrique Escalante, GCC´s CEO.

Mr. Escalante continued, “We are very proud to join this initiative, and move forward to take actions against climate change while GCC continues generating value to all stakeholders; our shareholders, customers, employees, and the communities where we operate”.

About Science Based Targets initiative (SBTi)

The Science Based Targets initiative mobilizes companies to set science-based targets and boost their competitive advantage in the transition to the low-carbon economy. It is a collaboration between CDP (Carbon Disclosure Project), the United Nations Global Compact, World Resources Institute (WRI), the World Wide Fund for Nature (WWF) and We Mean Business.

The initiative defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets.

For more information, follow @sciencetargets and visit sciencebasedtargets.org

About GCC               

GCC is a leading supplier and producer of cement, concrete, aggregates, and construction‐related services in the United States, Mexico and Canada, with an annual cement production capacity of 5.8 million metric tons. Founded in 1941, the Company’s shares are listed on the Mexican Stock Exchange under the ticker symbol GCC*.

Forward-Looking Statements

This press release may contain forward-looking statements. All statements that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “intend,” “project” and similar expressions are generally intended to identify forward-looking statements. These statements are subject to risks and uncertainties including, among others, changes in macroeconomic, political, governmental or business conditions in the markets where GCC operates; changes in interest rates, inflation rates and currency exchange rates; performance of the construction industry; pricing, business strategy, and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from the beliefs, projections, and estimates described herein. GCC assumes no obligation to update the information contained in this press release.

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