Cement Industry Announces Joint Declaration on Achieving '2050 Carbon Neutrality'

[Sejong=Asia Economy Reporter Kwon Haeyoung] The cement industry has decided to actively participate in the government's 2050 carbon neutrality vision.

Seven cement companies signed the '2050 Carbon Neutrality Challenge Joint Declaration' at the launch ceremony of the 'Cement Green New Deal Committee' held on the 17th at the Millennium Hilton Hotel in Seoul.

Through the declaration, these companies committed to ▲ efforts to reduce carbon emissions through innovative technology development and transformation of production structures ▲ continuous discussion of public-private communication and joint tasks through the Cement Green New Deal Committee ▲ practical tasks such as discovering and improving government policy tasks and strengthening future industrial competitiveness.

The cement industry accounted for 39 million tons of greenhouse gas emissions in 2019, representing 5.6% of the nation's total emissions and 10% of the industrial sector. The participating companies agreed to expand the industry's efforts and consensus on greenhouse gas reduction to demand companies and partners.

Lee Hyun-jun, Chairman of the Cement Association, said, "Carbon neutrality is a qualitatively different new challenge from the previous construction market downturn and rising raw material prices such as thermal coal," adding, "This declaration to participate in carbon neutrality will be a cornerstone for the cement industry to move productively and future-oriented."

On the day, the committee discussed ▲ the current status of greenhouse gas emissions in the cement industry ▲ development tasks for carbon neutrality innovative technologies ▲ and future carbon neutrality implementation plans.

Kang Kyung-sung, Director of Industrial Policy at the Ministry of Trade, Industry and Energy, said at the event, "To realize carbon neutrality in the cement industry, we will reflect the suggestions as much as possible, consult with related ministries, and focus investment on research and development of innovative technologies such as limestone raw material substitution technology and energy process efficiency improvement," adding, "through the utilization of recycled resources and development of eco-friendly hydrogen-based technologies, we will reduce the energy and raw material cost burden of the cement industry and support innovation in cement carbon-neutral processes.”

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