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Three Indian cement makers have significantly reduced emissions among the top 12 producers of the building material in the world, a report revealed by Carbon Disclosure Project (CDP) said on Thursday.

 

Indian companies especially ACC, Ambuja and Shree Cement have brought significant changes in order to meet the Paris agreement objectives. The new report, said that 12 cement companies - worth $120bn - have been warned that "significant innovation" is necessary in order to drive efficiency beyond current standards.

 

The Carbon Disclosure Project India (CDP India) works with Indian companies to promote sustainable development and safeguarding natural capital.

 

The cement industry responsible for 5% of global emissions will need to deploy highly innovative product and process technologies to meet the Paris Agreement objectives, the report said. The report also highlighted that "forward-looking" companies will see emission targets expire within the next few years, with some companies facing an earnings hit of 144% before interest and tax.

 

"This is the first piece of major research to break down how major players in the cement industry are meeting the challenge of reducing emissions in line with the science called for by the Paris Agreement," Tarek Soliman, senior analyst, Investor Research at CDP said in a statement.

Source: TOI