Carbonation of reinforced concrete is one of the causes of corrosion, but it is also a way to sequester CO2. The characteristics of the concrete cover should ensure alkaline protection for the steel bars but should also be able to combine CO2 to a certain depth. This work attempts to advance the knowledge of the carbon footprint of cement. As it is one of the most commonly used materials worldwide, it is very important to assess its impact on the environment. In order to quantify the capacity of cement based materials to combine CO2 by means of the reaction with hydrated phases to produce calcium carbonate, Thermogravimetry and the phenolphthalein indicator have been used to characterize several cement pastes and concretes exposed to different environments. The combined effect of the main variables involved in this process is discussed. The moisture content of the concrete seems to be the most influential parameter.