APO Cement Corporation, a subsidiary of CEMEX Holdings Philippines (CHP), recently inked an agreement with Friends of Hope, Inc. (HOPE), for a sustainable waste reduction initiative through a plastic credit exchange program.
The agreement involves plastic credits for offsetting, where HOPE purchases rights to plastic credits generated by APO Cement in its aggregation and co-processing; and HOPE supplies APO Cement, on its own or through its partners, with plastic wastes for co-processing. Co-processing is a proven sustainable waste disposal solution that prevents plastics away from landfills, rivers, and oceans.
“We have been pushing for more sustainable waste management solutions and this partnership with HOPE makes a significant contribution to lowering our carbon footprint by lessening the use of fossil fuels in our production process and ramping up our efforts towards a circular economy,” said CHP President and CEO Luis Franco.
The agreement was signed by CHP President and CEO Luis Franco, CHP Procurement Director Juan Carlos Soto, and HOPE Managing Director Ilusion Farias Arguello.
“We will continue building partnerships in the areas of environmental protection, sustainability and community participation to address climate change and create a positive impact for a better planet,” Franco added.
This waste management partnership is aligned with CEMEX’s Future in Action program aimed at becoming a net-zero CO2 company by 2050.
Friends of Hope is a non-profit organization that invests in Education, Environment, and Agriculture. It manages the impact and community-based outreach activities of its sister company, Plastic Credit Exchange (PCEX). One of their cornerstone environmental projects is Aling Tindera, a community-based waste-to-cash program empowering a network of micro-entrepreneurs to become sustainability champions in their communities.