Carbon intensive European construction material producers should redouble their efforts to cut emissions to secure their own future as the EU considers a 2050 net-zero emissions target, according to a report published Monday by the Institutional Investors Group on Climate Change (IIGCC).
“The cement sector needs to dramatically reduce the contribution it makes to climate change”, said Stephanie Pfeifer, CEO of the IIGCC, a European platform of more than 170 firms, including major banks and pension funds. It needs a profound transformation “in the short- to medium-term if companies are to secure their future”, she said.
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