Cement industry aspires to reduce Co2 emissions 20-25% by 2030
The cement industry is calling for a long-term policy to help drop emissions by 20-25% by 2030. The Cement Sustainability Initiative (CSI) of the World Business Council for Sustainable Development (WBCSD) calls for an international CO2 policy framework and the removal of existing barriers in order to unlock the sector’s full reduction potential.
Peter Bakker, President and CEO of WBCSD, said: “Cement production accounts for approximately 5% of worldwide man-made CO2 emissions. This collective effort by the cement industry to mitigate its emissions is highly encouraging and showcases the importance of leadership and collaboration in making the transition to a low carbon economy.
“These business measures can only achieve their full potential if backed by the right policy frameworks and financial incentives. We count on the support of policymakers worldwide and the financial community in removing the barriers to scale up.”
The Low Carbon Technology Partnership initiative (LCTPi) is a group of businesses dedicated to reducing these emissions and they are now ready to move towards implementation. There are many ways to reduce emissions but financial and political constraints often hold businesses back. The whole private sector needs to be involved in order to make the most of the technology that’s already there to hit reduction targets.
The LCTPi Cement report identifies a range of actions that tackle emissions of the sector, including expanding the use of alternative fuels and cement components, developing new low carbon cements, looking into avoided emissions in the use phase of concrete as a sustainable building material and exploring novelties in the production process.
Eric Olsen, CEO of LafargeHolcim said: "Since 2001 the cement sector has demonstrated its ability to make progress on mitigating its impact on climate change. The LCTPi provides additional opportunities to accelerate these efforts and widen engagement through actions by all members of the industry, together with other stakeholders, to overcome barriers and achieve performance matching the best in the sector.”
List of companies supporting the Action Plan:
- Cementos Argos
- Dalmia Cement
- Italcementi Group
- SCG Cement
- Shree Cement
- UltraTech Cement
- Votorantim Cimentos
- West China Cement
Engaging the building and infrastructure value chains to reduce cement’s footprint will further contribute to the use of concrete as a sustainable and resilient construction solution.
XYZ Reality receives £20m to develop Assisted Reality
Founded in 2017, XYZ Reality aims to "revolutionise" the construction sector with its Engineering-Grade Augmented Reality (AR) solution, Holosite.
Designed to enable an on time and on budget delivery of construction projects, by eliminating building errors, HoloSite has been available to select customers through an early access programme and has already been used on projects totalling a value of over £1.5bn in the last year.
With approximately 98% of construction megaprojects facing cost overruns or delays and 7-11% of project costs being spent on correcting errors, XYZ Reality’s purpose-built integrated AR solution directly addresses these issues.
With its safety certified AR hardhat, cloud platform and in-built proprietary software, Holosite accurately positions high fidelity 3D design models on construction sites, enabling teams to build it right, first time. The technology system has been used on complex construction projects including data centres, pharmaceutical facilities and airports.
This funding will be used to accelerate the company’s ambition of transforming projects by preparing for HoloSite’s commercial launch in the USA and continuing investment in strengthening research and development. The company is also growing its London team to include key hires across technology, manufacturing, sales and marketing.
David Mitchell, Founder and CEO of XYZ Reality, said developing its engineering-Grade AR solution helping construction teams identify errors in real-time is just the start.
"The next phase is Assisted Reality, where our spatial computing technology will have the intelligence to automatically detect and report issues in the field. And ultimately, the goal is builders building from holograms. Our vision of developing world changing products aligns with Octopus Ventures’ mission of investing in companies that are powering the next industrial revolution. We look forward to building history.”
The latest round of funding is led by Octopus Ventures, one of the largest and most active venture investors in Europe, known for its commitment of investing in companies and founders that are changing the world. Octopus Ventures has a strong track record, spanning investment in health, fintech, consumer, B2B software, and deep tech. This includes WaveOptics, one of Octopus Ventures’ early investments in Augmented Reality, which was recently acquired by Snap Inc.
Rebecca Hunt, early-stage investor at Octopus Ventures, said: "We’ve always invested in entrepreneurs leading industry change and XYZ is doing just that. It's solving a massive problem that costs the construction industry billions every year, using its Engineering-Grade Augmented Reality solution to spearhead a shift in the sector’s approach. The founding team of David, Umar and Murray have deep domain and technical expertise, which we believe makes XYZ uniquely placed to drive this transformation.”
XYZ Reality also announces a new partnership with Mace, for the construction of a hyper-scale data centre in Europe. With speed to market being particularly essential for mission critical builds, HoloSite’s AR technology will have a significant role in supporting an accurate and time effective build for Mace, which last week appointed Jon McElroy its new Managing Director for International Technology.
Mace Technical Director, Stephen Henley, said: “Mace has built a reputation of redefining the boundaries of ambition, always bringing efficiency, innovation and responsibility to our projects. With the implementation of XYZ’s groundbreaking AR system, we continue to be committed to delivering projects faster, safer and better than ever before.”
Five years ago, Heather Bellini of Goldman Sachs Research expected virtual and augmented reality to become an $80 billion market by 2025.
But according to new research by global tech market advisory firm ABI Research, nearly 28 million augmented and mixed reality smart glasses will ship in 2026, while the total global AR/MR market will surpass $175 billion in the same year.
"Major tech players across hardware, software, and services look familiar in the consumer space, contributing to strong and consistent overall growth," says Eric Abbruzzese, Research Director for ABI Research. "Those big tech names, with active investment and product ranging from already available, to announced, to all-but-announced, are creating a consumer AR market that will be dynamic and welcoming rather than struggling and immature."