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Timeline of Development: September 2021: TWG Launch December 2021: IWG Launch February - April 2022: Public Consultation News: Status: As of 5 October 2022, the Cement Criteria are available for use in certifications." /> <meta property="og:updated_time" content="2023-11-27T09:53:33+00:00" /> <meta property="og:image" content="https://www.climatebonds.net/sites/all/themes/climatebonds/images/og-image.jpg" /> <meta property="og:image:url" content="https://www.climatebonds.net/sites/all/themes/climatebonds/images/og-image.jpg" /> <meta property="og:image:secure_url" content="https://www.climatebonds.net/sites/all/themes/climatebonds/images/og-image.jpg" /> <meta property="og:image:type" content="image/jpeg" /> <meta property="og:image:width" content="1045" /> <meta property="og:image:height" content="600" /> <meta property="article:published_time" content="2021-09-16T00:00:00+01:00" /> <meta property="article:modified_time" content="2023-11-27T09:53:33+00:00" /> <title>Cement | Climate 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The Scheme is used globally by bond issuers, governments, investors and the financial markets to prioritise investments which genuinely contribute to addressing climate change.</strong></p> </div> </div> </section> </div> </div> <div class="main-container container" id="content"> <header role="banner" id="page-header"> </header>  <div class="row"> <aside class="col-xs-12 col-sm-12 col-md-3" role="complementary"> <div class="region region-sidebar-first well"> <section id="block-menu-block-1" class="block block-menu-block sidebar-menu clearfix"> <div class="menu-block-wrapper menu-block-1 menu-name-main-menu parent-mlid-0 menu-level-2"> <ul class="menu nav"><li class="first expanded menu-mlid-2229"><a href="https://www.climatebonds.net/standard/the-standard" title="">The Standard</a><ul class="menu nav"><li class="first leaf menu-mlid-3663"><a href="/climate-bonds-standard-v42">Climate Bonds Standard V4.2</a></li> <li class="leaf menu-mlid-3624"><a 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id="main-content"></a> <h1 class="page-header">Cement</h1> <div class="region region-content"> <section id="block-system-main" class="block block-system clearfix"> <article id="node-187706" class="node node-page node-promoted clearfix"> <div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><img alt="" src="https://www.climatebonds.net/files/images/Cement%20banner%2001A.jpeg" style="width: 900px; height: 300px;" /></p> <p class="rtecenter" style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> </p> <div style="box-sizing: border-box; background-color: rgb(216, 216, 216); width: 300px; float: right; margin-left: 10px; margin-right: 10px; padding: 8px;"> <p class="rteindent4" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"><span style="font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="font-weight: 700;">Resources:</span></span></span></p> <ol><li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><a href="https://www.climatebonds.net/files/files/standards/Cement/Sector%20Criteria%20-%20Cement%20Production%20v1_2%20%28April%202023%29%281%29.pdf">Cement Criteria Document</a> (English)</li> <li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><a href="https://www.climatebonds.net/files/files/Cement-Background-Paper-Final-241022.pdf">Cement Background Paper</a> (English)</li> <li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><a href="https://www.climatebonds.net/files/files/Cement-Criteria-Public-Consultation-Summary-041022.pdf">Summary of Public Consultation</a> (English)</li> <li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><a href="https://www.climatebonds.net/climate-bonds-standard-v4" style="box-sizing: border-box; background-color: transparent; color: rgb(52, 103, 164); text-decoration-line: none;">Climate Bonds Standard v4.0</a></li> <li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="font-size: 14px; background-color: rgb(216, 216, 216);"><a href="https://www.climatebonds.net/files/files/Cement%20Criteria%20FAQs_Final_Sep%202022.pdf">Cement Criteria Frequently Asked Questions</a> (English)</span></li> </ol><p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><strong><span style="font-size: 14px; background-color: rgb(216, 216, 216);">Translations:</span></strong></p> <ul><li style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 34, 34); font-size: small;"><a href="https://www.climatebonds.net/files/page/files/cbi_shui_ni_biao_zhun_cement.pdf"><span style="font-size: 14px;">Cement Criteria Document</span></a> <br /><span style="font-family: arial, helvetica, sans-serif;"><span style="color: rgb(34, 34, 34); font-size: small;">(Chinese) / </span></span><strong><a href="https://www.climatebonds.net/files/page/files/cbi_shui_ni_biao_zhun_cement.pdf">水泥标准</a></strong></span></span></li> <li>Cement Background Paper (Chinese - <span style="font-size: 12px;"><em>Upcoming</em></span>)</li> </ul><p> </p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><a href="https://www.climatebonds.net/certification/get-certified" style="color: var(--blue); background-color: rgb(216, 216, 216); box-sizing: border-box; text-decoration-line: none;"><img alt="" src="https://www.climatebonds.net/files/images/certification/CBS_Certified-RGB.png" style="box-sizing: border-box; border: 0px; vertical-align: middle; width: 100px; height: 100px;" /> </a><span style="background-color: rgb(216, 216, 216);"> </span><strong style="background-color: rgb(216, 216, 216);"> </strong><strong style="background-color: rgb(216, 216, 216);"><a href="https://www.climatebonds.net/certification/fast-track">Get Certified</a><a href="https://www.climatebonds.net/certification/fast-track">!</a></strong></p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> </p> <p class="rteindent2" style="margin: 0px 0px 10px; box-sizing: border-box;"><span style="font-weight: 700; font-family: arial, helvetica, sans-serif; font-size: 14px;">Timeline of Development:</span></p> <p class="rteindent2" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"><span style="font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>September 2021:</strong> TWG Launch </span></span></p> <p class="rteindent2" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"><span style="font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;"><strong>December 2021</strong>: IWG Launch </span></span></p> <p class="rteindent2" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"><strong style="font-family: arial, helvetica, sans-serif; font-size: 14px; background-color: rgb(216, 216, 216);">February - April 2022: </strong><span style="font-family: arial, helvetica, sans-serif; font-size: 14px; background-color: rgb(216, 216, 216);">Public Consultation </span></p> <p class="rteindent2" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"><strong style="font-family: arial, helvetica, sans-serif; font-size: 14px;">News:</strong></p> <div class="rteindent2" style="margin: 0px 0px 10px; font-size: 15px; box-sizing: border-box;"> </div> </div> <p><span style="font-size: 14px; box-sizing: border-box; font-weight: 700;">Status</span><span style="font-size: 14px;">: </span><span style="font-size: 10.5pt; line-height: 107%; font-family: Tahoma, sans-serif;">As of 5 October 2022, the Cement Criteria are available for use in certifications. The Climate Bonds Standard Board approved them in August 2022, making them world-first criteria for investments in the cement sector.</span></p> <p><span style="font-size: 14px; box-sizing: border-box; font-weight: 700;">Criteria</span><span style="font-size: 14px;">: </span><span style="font-family: Tahoma, sans-serif; font-size: 10.5pt;">The Cement Criteria lay out the requirements that cement production assets and activities must meet to be eligible for inclusion in a Certified Climate Bond. They also lay out</span><span style="font-family: Tahoma, sans-serif; font-size: 10.5pt; box-sizing: border-box;"> a credible transition path </span><span style="font-family: Tahoma, sans-serif; font-size: 10.5pt;">for cement production </span><span style="font-family: Tahoma, sans-serif; font-size: 10.5pt; box-sizing: border-box;">companies to issue transition labelled debt</span><span style="font-family: Tahoma, sans-serif; font-size: 10.5pt;">. The Criteria apply to the manufacture and production of cement and do not address other stages of the value chain.</span></p> <p style="margin-top:0cm;margin-right:0cm;margin-bottom:7.5pt;margin-left:0cm;<br />
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color:#333333">The Criteria contain Mitigation Requirements and Adaptation & Resilience Requirements.<p></p></span></p> <p style="margin-top:0cm;margin-right:0cm;margin-bottom:7.5pt;margin-left:0cm;<br />
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word-spacing:0px"><span style="font-size: 10.5pt; font-family: Tahoma, sans-serif;">Financial instruments linked to these eligible assets, activities and entities will be aligned with the Paris Agreement and the goal of keeping global temperature rises to no more than </span><span style="text-align: justify; box-sizing: border-box; font-size: 14px; font-family: arial, helvetica, sans-serif;">1.5</span><span style="text-align: justify; box-sizing: border-box; font-size: 14px; font-family: arial, helvetica, sans-serif;"><span style="box-sizing: border-box; position: relative; font-size: 10.5px; line-height: 0; vertical-align: baseline; top: -0.5em;">o</span>C </span><span style="font-size: 10.5pt; font-family: Tahoma, sans-serif;">above pre-industrial levels.</span></p> <p style="margin-top:0cm;margin-right:0cm;margin-bottom:7.5pt;margin-left:0cm;<br />
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word-spacing:0px"> </p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="box-sizing: border-box; font-weight: 700;">Public consultation:</span></p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;">Public consultation began on 22 February 2022 and lasted for 74 days. </p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;">A webinar to launch the consultation took place at 15:00 Brussels / 14:00 London on 22 February. It provided an opportunity for interested parties to learn more about the Criteria and to ask questions. The webinar is available below.</p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> </p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> <iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/IlDtXdF7umw" title="YouTube video player" width="560"></iframe></p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="box-sizing: border-box; font-weight: 700;">Why develop eligibility Criteria for cement investments?</span></p> <p style="margin-top:0cm;margin-right:0cm;margin-bottom:7.5pt;margin-left:0cm"><span style="font-size: 10.5pt; font-family: Tahoma, sans-serif;">Improved guidance, such as these Criteria, will guide investors to invest <span style="box-sizing: border-box">in credible transition activity,</span> guide asset owners to upgrade their infrastructure, and guide policy makers to incentivise the transition and can be utilised by governments in setting regulation or recommendations for decarbonising the sector.<p></p></span></p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="font-size: 10.5pt; line-height: 107%; font-family: Tahoma, sans-serif;">The Cement Criteria are one of two of the first sector criteria released under Climate Bonds' Transition Programme. This focus on industrial transition is driven by</span> Climate Bonds' work on <a href="https://www.climatebonds.net/transition-finance-home/frameworks-assess-transition">Frameworks to Assess Transition</a>.</p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> </p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"><span style="box-sizing: border-box; font-weight: 700;">The Technical and Industry Working Groups (TWG and IWG)</span></p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;">To create the Criteria, Climate Bonds convened a Technical Working Group (TWG) and an Industry Working Group (IWG) with representatives from investors, public entities, research institutes and international policy bodies from around the world. These experts ensure robust pragmatic criteria is developed.</p> <p style="box-sizing: border-box; margin: 0px 0px 10px; font-size: 14px;"> </p> <p><strong><span style="font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;">The Cement Criteria Technical Working Group Members</span></span></strong></p> <p> </p> <table cellpadding="10" cellspacing="5"><tbody><tr valign="bottom"><td class="rtecenter"><img alt="" src="https://www.climatebonds.net/files/images/Cyrille%20Dunant.png" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter"><img alt="" src="https://www.climatebonds.net/files/images/Alexander%20Mark.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter"><img alt="" src="https://www.climatebonds.net/files/images/Cao%20Zhi.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter"><img alt="" src="https://www.climatebonds.net/files/images/Holtz%20Gerog.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter"><img alt="" src="https://www.climatebonds.net/files/images/John%20Vanderley.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter"> </td> </tr><tr valign="top"><td> <p class="rtecenter"><strong>Lead Consultant</strong><br /> University of Cambridge</p> <p class="rtecenter"><strong>Cyrille Dunant</strong></p> </td> <td> <p class="rtecenter">University of Cape Town</p> <p class="rtecenter"><strong>Prof. Mark Alexander</strong></p> </td> <td> <p class="rtecenter">University of Antwerp, Belgium</p> <p class="rtecenter"><strong>Zhi Cao</strong></p> </td> <td> <p class="rtecenter">Wuppertal Institut für Klima, Umwelt, Energie Germany</p> <p class="rtecenter"><strong>Georg Holtz</strong></p> <p class="rtecenter"> </p> </td> <td> <p class="rtecenter">Universidade de São Paulo</p> <p class="rtecenter"><strong>Prof. Vanderley John</strong></p> </td> <td> <p class="rtecenter"> </p> </td> </tr><tr><td class="rtecenter" style="width: 150px;"><img alt="" src="https://www.climatebonds.net/files/images/Juan%20Li.jpg" style="opacity: 0.9; text-align: center; width: 100px; height: 100px;" /></td> <td class="rtecenter" style="width: 150px;"><img alt="" src="https://www.climatebonds.net/files/images/Kourti%20Ioanna.jpg" style="opacity: 0.9; text-align: center; width: 100px; height: 100px;" /></td> <td class="rtecenter" style="width: 150px;"><img alt="" src="https://www.climatebonds.net/files/images/Scrivener%20Karen.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter" style="width: 150px;"><img alt="" src="https://www.climatebonds.net/files/images/West%20Kira.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter" style="width: 120px;"><img alt="" src="https://www.climatebonds.net/files/images/Xavier%20Cassio.jpg" style="opacity: 0.9; width: 100px; height: 100px;" /></td> <td class="rtecenter" style="width: 120px;"><img alt="" src="https://www.climatebonds.net/files/images/Marchan%20Estefania.jpg" style="opacity: 0.9; text-align: center; width: 100px; height: 100px;" /></td> </tr><tr><td> <p class="rtecenter">China Building Materials Academy</p> <p class="rtecenter"><strong>Li Juan</strong></p> </td> <td> <p class="rtecenter">European Bank for Reconstruction and Development</p> <p class="rtecenter"><strong>Ioanna Kourti</strong></p> </td> <td> <p class="rtecenter">École polytechnique fédérale de Lausanne</p> <p class="rtecenter"><strong>Prof. Karen Scrivener</strong></p> <p class="rtecenter"> </p> </td> <td> <p class="rtecenter">TNO</p> <p class="rtecenter"><strong>Kira West</strong></p> </td> <td> <p class="rtecenter">TNO</p> <p class="rtecenter"><strong>Cassio Xavier</strong></p> </td> <td> <p class="rtecenter">Rocky Mountain Institute </p> <p class="rtecenter"><strong>Estefania Marchan*</strong></p> </td> </tr></tbody></table><p> </p> <p>*Sat on the TWG as a liaison on behalf of the Rocky Mountain Insitute.</p> <p> </p> <p><strong><span style="font-size: 14px;"><span style="font-family: arial, helvetica, sans-serif;">The Cement Criteria Industry Working Group Members**</span></span></strong></p> <p> </p> <table border="0" cellpadding="1" cellspacing="1" style="width:850px;"><tbody><tr><td><span style="text-align: center;">Dr Ma Weiping – West China Cement Ltd</span></td> <td><span style="text-align: center;">Ravi Chandra Chikatimalla – JSW Cement</span></td> </tr><tr><td><span style="text-align: center;">Adam Gustafsson – UBS Asset Management</span></td> <td><span style="text-align: center;">Douglas Farquhar – NN Investment Partners</span></td> </tr><tr><td><span style="text-align: center;">Leanne Bloch-Jorgensen – National Australia Bank</span></td> <td><span style="text-align: center;">Daniel Kricheff – Affirmative Investment Management</span></td> </tr><tr><td><span style="text-align: center;">Asja Hossain – Bayern LB</span></td> <td><span style="text-align: center;">Giuseppe Cosulich – Credit Suisse</span></td> </tr><tr><td><span style="text-align: center;">Samuel Mary – Pimco</span></td> <td><span style="text-align: center;">Kaboo Leung – Pimco</span></td> </tr><tr><td><span style="text-align: center;">Francesca Fraulo – Sustain Advisory</span></td> <td><span style="text-align: center;">Zonta Yung – SGS Hong Kong</span></td> </tr><tr><td><span style="text-align: center;">Diana Via – PCS</span></td> <td><span style="text-align: center;">Ken Zhong – PWC</span></td> </tr><tr><td><span style="text-align: center;">Atul Sanghal – Emergent Ventures</span></td> <td><span style="text-align: center;">Jean Hetzel – NSF</span></td> </tr><tr><td><span style="text-align: center;">Weitai Gao – CCXGF</span></td> <td><span style="text-align: center;">Mayur Mukati – Sustainalytics</span></td> </tr><tr><td><span style="text-align: center;">Marine Durrieu – ISS ESG</span></td> <td> </td> </tr></tbody></table><p> </p> </div></div></div> </article> </section> </div> </section> 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