CEMEX, PCX, and Greencycle enter into an agreement toward climate action
CEMEX Philippines signed a tripartite agreement with Plastic Credit Exchange (PCX) and Greencycle to further strengthen its commitment to reduce its carbon footprint and contribute to a circular economy.
The agreement supports end-to-end plastic waste reduction processes, starting from plastic waste collection, consolidation, aggregation, treatment, and concluding in co-processing, preventing them from ending up in landfills, bodies of water, or the environment.
“We are very pleased to enter into this agreement which demonstrates our pivotal role in a circular economy, further strengthening our track towards carbon neutrality by 2050,” said Luis Franco, President and CEO of CEMEX Philippines.
“PCX is proud to be a part of this important agreement in support of our mission to end plastic waste entering nature,” said Sebastian DiGrande, CEO of PCX. “This partnership enables the responsible disposal of end-of-life plastics that have no other channels for recycling and provides a valuable bridge in the transition to a truly circular economy for plastics,” Sebastian added.
World Bank reports that by 2050, global waste generation is expected to grow to 3.4 billion tons per year, or a 70% increase compared to 2016. This increase consequently increases greenhouse gas (GHG) emissions since they are linked to global waste generation. Specific to plastics, reports show that the world's production of plastic waste is twice as much as two decades ago, with most of it ending up in landfills or bodies of water, and only about 9% are effectively recycled. Decomposition in landfills produces methane gas, a greenhouse gas that is 25 times as potent as carbon dioxide at trapping heat in the atmosphere.
“Due to the large volume of plastics generated everywhere, CEMEX’s co-processing solution using plastic waste as alternative fuels undoubtedly helps reduce greenhouse gas emissions, lessening dependence on fossil fuels,” Franco highlighted.
"No single company can address the huge challenge of plastic waste. Companies need to work together, such as what we have with PCX and CEMEX, to increase the chances of creating a sustainable and better planet,” said Greencycle General Manager Roland Vera Cruz.
Under the agreement, PCX, which owns and operates the Plastic Credit Exchange, will facilitate the certification, sale, and purchase of plastic credits to sustainability-conscious businesses to responsibly offset their plastic footprint and reduce plastic flow into nature. Greencycle, on the other hand, will deliver and supply pre-treated post-consumer plastic waste to CEMEX Philippines’ Solid Cement plant in Antipolo City as Refuse-Derived Fuels (RDF). This waste will be co-processed by Solid Cement as an alternative fuel and/or as a part component in its primary business of manufacturing and production of cement.
Co-processing is a proven sustainable waste disposal solution in which segregated plastics are processed at extremely high temperatures to break materials down into simpler compounds. The non-recyclable wastes, such as plastics, are then converted into usable heat to help in cement production, lessening operational dependency on fuel and electricity use and effectively contributing to a decrease in carbon emissions. The process is monitored in compliance with the standards set by the Department of Environment and Natural Resources (DENR).
CEMEX is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. At the forefront of the circular economy in the construction value chain, CEMEX is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations through the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing superior customer experience enabled by digital technologies. For more information, please visit: www.cemexholdingsphilippines.com.