The EU is leading the way on decarbonizing the cement industry, with larger players taking steps to reduce emissions by 2030. In this research, we analyze the steps some European players are taking to decarbonize their operations and update their strategies to meet changing customer demands. We also look at the financial and operational implications for companies in light of the EU's goal to hasten emissions reduction and the challenges the industry faces given the current nascent stage of decarbonizing technology. We also set out some mitigating factors, which largely reflect cement's limited substitution risk and still-high demand.