A group of investors that manages $2 trillion on Monday pressured cement makers to accelerate efforts to reduce their emissions . The coalition is made up of members of the Institutional Investors Group on Climate Change and Climate Action 100+, a leading campaign group with 320 supporters.
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Cement production, which uses huge amounts of heat and energy, is responsible for 7% of man-made carbon dioxide emissions. If the cement industry were a country, it would trail only the United States and China in emissions of the greenhouse gas.
“The cement sector needs to dramatically reduce the contribution it makes to climate change. Delaying or avoiding this challenge is not an option,” Stephanie Pfeifer, CEO of IIGCC, said in a statement. “This is ultimately a business-critical issue for the sector.”
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