Holcim

Does the core business genuinely avoid or reduce emissions, or build climate resilience? Share of revenue that is actually 'green'. Fossil-dependent models score low.

Cement production is structurally carbon-intensive — calcination of limestone alone accounts for ~36% of Holcim's total CO2 — and with ~124 million tonnes CO2e reported in 2024 the company remains a top-five industrial emitter globally; incremental intensity reductions (2% net/tonne in 2024) are meaningful for the sector but do not yet represent an absolute emissions decline commensurate with 1.5°C pathways.

Credible, science-based targets (SBTi), a real net-zero plan with progress to date, and CDP disclosure — not just a dated press release.

Holcim has SBTi-validated near-term (2030) and long-term (2050) targets aligned with the 1.5°C framework, covers Scopes 1, 2, and 3, ties executive pay to CO2 KPIs, has set first-of-kind SBTN freshwater targets, and has achieved CDP 'A' for climate five consecutive years — among the most robust target architectures in heavy industry.

Operational footprint, labour and social practices, and governance quality across the company's own operations and supply chain.

Holcim demonstrates above-average ESG governance including CSRD alignment, double materiality assessment, and board-level Health, Safety & Sustainability Committee; however, Sustainalytics flagged moderate controversies in taxation and anti-competitive practices across regions, and the Lafarge Syria episode raised serious questions about historical subsidiary oversight and worker endangerment.

Quality of disclosure, independent third-party verification, and how much hard data backs the company's claims.

Holcim discloses granular Scope 1/2/3 data via CDP full questionnaire, publishes a dedicated annual Climate Report with CCUS project detail, has moved toward full CSRD alignment, and uses external physical risk tools (Swiss Re RDS); data is independently verified and the breadth of disclosure is exceptional for the sector.

Controversies, litigation, pollution, fossil-fuel lobbying, conflict-zone involvement and governance scandals. Higher means cleaner.

In April 2026, a Paris court found Lafarge (Holcim's subsidiary since 2015) guilty of financing terrorist groups including ISIS — totaling roughly €5.5 million — to keep a Syria cement plant operating during the civil war; Lafarge had previously pled guilty in the US in 2022 and paid $777.8 million to the DOJ, and Sustainalytics had separately flagged anti-competitive practices and political lobbying, representing compound and severe integrity failures.