FRANKFURT – HeidelbergCement, the No. According to industry leaders, the No.2 cement producer, announced Tuesday it would cut CO2 (CO2) emissions almost half off its 1990 levels by 2030.

Recycled materials and carbon capture will be used by the company to lower CO2 emissions. This is a reduction of its previous goal of 500 kilograms.

Dominik von achten, chief executive of the company, stated “We will make this transition a success business case”, during the capital markets day.

New financial targets were also set by the company, which aims for sales growth around 5% annually and core profit (EBITDA), margins between 20%-22% by 2025. After previously being above 8%, the return on capital invested is now at over 10%.

According to the company which is in direct competition with Switzerland, net investments will reach 1.2 billion dollars ($1.1 billion annually) and cover sustainable products as well CO2 capture, use and storage (CCUS). Holcim (SIX;), The Global Leader

Achten declared, “We are firmly driving forward HeidelbergCement’s transformation to become the largest sustainable company in the sector.” “We are able to bring about the needed change in the industry with our partners, speed, knowledge, technology, and partner,” von Achten said.

($1 = 0.9323 euros)