BY JOHNMARK UKOKO
Dangote Cement’s commitment to environmental disclosures and sustainability is yielding the desired results with Carbon Disclosure Projects (CDP) raising its rating from B – even as it proposes a dividend of N20 per share for the year ended December 31, 2021.
The CDB’s is an international non-profit organisation based in the United Kingdom, which runs the global disclosure system for investment companies, cities, states and regions to manage their environmental impacts.
CDP explained that it raised the rating as a result of the company’s commitment to climate change.
The upgrade clearly illustrates the progress made by Dangote Cement regarding commitments to transparency mitigating its carbon dioxide footprint.
This is one of the highest ratings in Sub- Saharan Africa and the only Nigeria company rated by CDP.
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, ” he stated.
According to him, the company is focused on making a positive difference, which is why sustainability remains at the core of every part of its business.
“In addition, our Alternative Fuel Project is at an advanced stage, which aims to leverage waste management solutions, reduce Co2 emissions and source materials locally.
“This year, we process 89,000 tons of waste representing a 60 per cent increase over 2000,” he said, adding that Dangote Cement was focused on sound governance and was leading the way with its 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 the core of every part of our business culture,” he said.
Its financials for the year ended December 31, 2021, revealed that group sales volume for Dangote Cement stood at 29.3 Mt, with Nigeria accounting for 18.61Mt, while operations in other countries recorded 10.86Mt.
Group revenue hit N1.383 billion for the year, comprising N993.34 billion from Nigeria, while revenue from across African plants was N397 billion in contrast to the group revenue of N1.034 billion in 2020, which constituted of N719.95 billion from Nigeria and N318.37 billion and after tax profit of N364.44 billion.
The directors proposed a dividend of N20 per share.
Dangote Cement became the first Nigeria listed company to report its financial results using XBRI format with IRRS.