13 December 2022
TITAN Group achieves top score “A” by CDP for
leading climate action
TITAN Group has received a top “A” score on climate action from the environmental non-profit organization CDP*. ΤΙΤΑΝ is one of only three cement companies globally to achieve this level in 2022. This score recognizes TITAN’s leadership in corporate transparency and performance on climate change. In addition, TITAN received an “A-” score in water security.
TITAN Group is one of the 283 companies across all sectors that achieved an “A” on climate, out of nearly 15,000 companies scored. CDP’s annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. A detailed and independent methodology is used to assess the companies, allocating a score of “A” to “D-“.
In 2022, TITAN Group raised its climate ambition even further with updated CO2 reduction targets for 2030 in line with the 1.5oC scenario. With the new targets, which were validated by the Science Based Targets Initiative (SBTi), TITAN seeks to address not only direct (Scope 1) emissions and indirect emissions from the generation of purchased electricity (Scope 2), but also other indirect emissions of the supply chain (Scope 3). By 2050, the Group aims to achieve net zero greenhouse gas emissions across the value chain. With more than 90 decarbonization initiatives in the pipeline across its regions, TITAN is well on track to deliver on its climate commitments.
TITAN discloses its relevant independently verified CO2 emissions and climate change performance, from both its major operations and its value chain, through the CDP report annually. The relevant disclosures are based on the recommendations of the TCFD (Task Force on Climate-related Financial Disclosures).
*CDP (former Carbon Disclosure Project) is a global non-profit that runs the world’s environmental disclosure system for companies, cities, states and regions. Founded in 2000 and working with more than 680 financial institutions with over $130 trillion in assets, CDP pioneered using capital markets and corporate procurement to motivate companies to disclose their environmental impacts, and to reduce greenhouse gas emissions, safeguard water resources and protect forests. Nearly 20,000 organizations around the world disclosed data through CDP in 2022, including more than 18,700 companies worth half of global market capitalization, and over 1,100 cities, states and regions. Fully TCFD aligned, CDP holds the largest environmental database in the world, and CDP scores are widely used to drive investment and procurement decisions towards a zero carbon, sustainable and resilient economy. CDP is a founding member of the Science Based Targets initiative, We Mean Business Coalition, The Investor Agenda and the Net Zero Asset Managers initiative. The full list of companies that made this year’s CDP A List is available at: https://www.cdp.net/en/companies/companies-scores
About TITAN Cement Group
TITAN Cement Group is an international cement and building materials producer. Business activities cover the production, transportation and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Group employs about 5,400 people and is present in more than 15 countries, operating cement plants in 10 of them, the USA, Greece, Albania, Bulgaria, North Macedonia, Kosovo, Serbia, Egypt, Turkey and Brazil. Throughout its history, the Group has aspired to serve the needs of society while contributing to sustainable growth with responsibility and integrity.