Does look like mainly steam, in colder weather condensation might be a risk but only similar to heavy cloud or fog.
Interesting subject, let's see more like this much better than another field or suburban scene that frankly is a bit boring if you don't know where it is.
Did a previous shoot in this same location with P2 w/GoPro & Black Pearl and didn't come near the quality & stability of the P3P.
Yes making cement has improved its efficiency enormously,the change from wet to dry kilns, the use of alternative fuels, and the use of alternative raw materials etc have all helped. Not sure about absorbing CO2 after production,yes lime mortar does but cement?Like exposed limestone, concrete actually absorbs CO2 (after it's made) if anyone really cares.
The process of making it is very energy intensive but has been made far more efficient than in the past.
The visible plume of water vapour is of no particular concern although the shade from it could be somewhat annoying especially in the winter.