KUALA LUMPUR (Sept 20): The construction industry is in dire need of eco-friendly cement — also known as "green cement" — towards realising the nation's aspiration to achieve net-zero greenhouse gas emissions by 2050.
Sime Darby Property Bhd group managing director Datuk Azmir Merican said currently, there is no known substitute material for cement, noting that the cement industry is among the highest emitters of carbon dioxide (CO2).
It was reported that the production of cement accounts for as much as 7% to 8% of global CO2 emissions.
"Cement is the most widely used man-made material on earth. About 4.6 billion tonnes of cement are used every year.
"Yes, we want to achieve net-zero [greenhouse gas emissions] but we don't have the technology today," he said during the "Cooler Earth Sustainability Summit 2022 — Facilitating a Just Transition" on Tuesday.
Azmir said the construction industry's ecosystem as a whole needs to evolve, noting that the transportation industry, which is the largest emitter of CO2, is also a big part of the construction sector.
Earlier, CIMB Group Holdings Bhd group chief executive officer Datuk Abdul Rahman Ahmad said the bank has set a specific target for financed emissions in the cement sector, committing to reducing the physical intensity by more than 35%, from 0.72 tonne of CO2 equivalent per tonne of cement produced in 2021 to 0.46 tonne of CO2 equivalent by 2030.
To this end, he said the CIMB Group needs clients' commitment to working hand in hand, and as such, the bank will be developing client engagement and execution plans for various sectors within the next 12 months.