Energy and transition economics
2026-04-26
13 min read
12 sources
Cement After CBAM: The 2026 Decarbonization Capital Stack
Cement is 7 to 8 percent of global CO2 and 4.1 billion tonnes of output. The 2026 EU CBAM definitive period, IRA 45Q at 85 dollars per tonne, and the first commercial CCS kiln at Brevik rewrite the capital stack for clinker, clay, and capture.
Global cement production reached roughly 4.1 billion tonnes in 2024 (USGS MCS 2025), led by China at about 2.0 billion tonnes, India at 390 million tonnes, and the United States at 91 million tonnes. Average CO2 intensity near 0.6 tonnes per tonne of cement places the sector at 7 to 8 percent of global emissions and on the GCCA trajectory...