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Suez Cement top official: We invest in waste recovery plant under sustainable finance
Jose Maria Magrina, Managing Director of Suez Cement, said the company is investing in a waste recovery plant because, according to him, waste is very nice example for sustainable finance.
Waste projects do not have much pay back, but they contribute to eliminating CO2 emissions and waste, he explained.
During the 12th Corporate Social Responsibility (CSR) and Sustainable Development (12th CSR Forum), he said “We are investing in a waste recovery plant that will take hot gases and generate electricity..as such it will reduce 30 percent of CO2 emissions.”
“In Egypt, we produce 50,000 to 60,000 tons of waste per day, about 20 to 25 million tons per year. we as a company now – thanks to institutions that help us finance this project – we are burning 350,000 tons of waste per year,” he expounded.
“I am giving this example because we can be part of the solution,” he accentuated.
He added that the company is conducting researches to be sustainable and this is still far in the future, but not now.
“The company has a commitment of meeting 30% less of CO2 emissions by 2025 compared to 1999, so we have really big pressure,” he said.
“Sustainability is not an option, it is a necessity. We are pushing all the fronts; reducing energy, water, etc.” he stressed.
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