Ambuja Cements, ACC Get SBTi Approval For Net-Zero Emissions Targets
Both companies have received approval for net-zero targets from global climate science body SBTi.
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Ambuja Cements Ltd. and ACC Ltd. have become the first Indian cement companies to receive validation from the Science Based Targets initiative for their net-zero emissions targets, according to a press note issued by Adani Cement on Thursday.
The validation by SBTi confirms that the companies' near-term climate targets to be met by 2030, and their long-term net-zero goals for 2050, are aligned with climate science and the Paris Agreement’s 1.5°C target. This approval enables Ambuja Cements and ACC to comply with the Indian government’s Carbon Credit Trading Scheme and participate in global carbon markets.
The Science Based Targets initiative is the world’s only framework for corporate net-zero target setting based on climate science. The two companies said they will focus on direct decarbonisation of operations and offset any residual emissions in line with SBTi’s guidelines.
Ambuja Cements is also the first cement manufacturer globally to join the Alliance for Industry Decarbonisation, led by the International Renewable Energy Agency. It is also a member of the World Economic Forum’s Transitioning Industrial Clusters initiative.
As part of its decarbonisation strategy, Ambuja aims to source 60% of its power from renewable and green sources by the financial year 2028. This includes plans for 1 gigawatt of solar and wind capacity and 376 megawatts of waste heat recovery systems. So far, it has installed 299 megawatts of renewable capacity and 186 megawatts of waste heat recovery capacity.
The companies also said their decarbonisation roadmap is supported by the Adani Group’s broader energy transition plan, which includes a $100 billion investment to scale up renewable energy capacity and green hydrogen production by 2030.
Adani Cement, which includes Ambuja Cements and ACC, is the ninth-largest cement manufacturer in the world with over 100 million tonnes of installed capacity, according to the release. It added that the company accounts for nearly 30% of cement used in India’s housing and infrastructure projects.
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