March 01, (THEWILL) – Africa’s largest cement producer, Dangote Cement, says its commitment to environmental sustainability is yielding the desired results with the Carbon Disclosure Project (CDP) raising its rating from C to B-.
The CDP, an international non-profit organisation based in the United Kingdom, which runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts, explained that it raised the rating as a result of the Company’s commitment to climate change.
Dangote Cement said the upgrade clearly illustrated the progress it has made regarding commitment to transparency and mitigating its carbon dioxide footprint.
It said it is the only Nigerian entity rated by CDP, stating that the rating is one of the highest in Sub-Saharan Africa.
Chief Executive Officer of Dangote Cement Plc, Michel Puchercos, in his response to the development said: “We are pleased to be recognised for the progress that we are making in our environmental disclosures and sustainability.
“The CDP rating upgrade clearly illustrates the steps that Dangote Cement is taking in its commitment to transparency on climate and environmental issues.”
Puchercos said the cement company is focused on making a positive difference, which is “why sustainability is at the core of every part of our business. In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO2 emissions, and source material locally. This year, we co-processed 89,000 tonnes of waste representing a 60% increase over 2020.”
He added that Dangote Cement is focused on sound governance, saying, “we are leading the way with our commitment to sustainability and best practices. We are driven by the goal of achieving the highest level of governance and building a sustainable brand for all stakeholders. Transparency and consistency are at the core of every part of our business culture.”
Meanwhile, the company has recorded a revenue of N1.38 trillion for the year ended December 31, 2021, compared with N1.03 trillion in 2020.
The company said the revenue is made up of N993.34 billion from Nigeria, while revenue from across African plants amounted to N397.32 billion.
“Group revenue was N1,383.6 billion for the full year, made up of N993.34 billion from Nigeria, while revenue from across African plants was N397.32 billion, in contrast to the group revenue of N1,034.20 billion in 2020, which constituted of N719.95 billion from Nigeria and N318.68 billion from other African operations”, it said in a statement.
It further reported a gross profit of N538.37 billion and after tax profit of N364.44 billion, adding that its directors have proposed a dividend of N20.00 per share.
According to its financials for the full year ended December 31, 2021, group sales volume for Dangote Cement stood at 29.3Mt, with Nigeria accounting for 18.61Mt, while operations in other countries did 10.86Mt.
Dangote Cement is a subsidiary of Dangote Industries Limited, a diversified and fully integrated conglomerate as well as a leading brand across Africa in businesses such as cement, sugar, salt, beverages, and real estate, with new multi-billion-dollar projects underway in the oil and gas, petrochemical, fertiliser and agricultural sectors.
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