When concrete was developed and widely used by the Romans in their larger projects, lime mortar had been the preferred binding material in construction for centuries. In fact lime mortars have been in continuous use in domestic building since before 400BC, superceding mud brick as the method of choice and lime has remained the most effective of materials until the present day. If your home or outbuilding was constructed before 1900, it will almost certainly be built of stone or brick with lime mortar holding it all together. The flexibility of lime, its ability to self heal and its incredible durability have given it the edge over all the alternatives until less than a century ago.
It is not porous and so, any moisture trapped behind cement pointing or render is likely to stay within the walls and as water always finds a way, so this retained moisture can and does settle and pool to produce pockets of damp that may never wholly disappear. A second cause for concern when building or repairing a stone built house with cement is in fact the very hardness of it. If your pointing material is harder than the stone of the construction, then erosion will begin to etch away at the stone itself. This leads to voids between the stone and the pointing which in turn allow the ingress of rain, which will seep down into the walls and only show itself later as damp patches on the inside walls of your home. Thirdly, from the the environmental point of view, cement produces 4 times more CO2 in its production cycle, while lime actually absorbs CO2 from the atmosphere as part of the curing process.
Though self healing through its reaction to the atmosphere, will erode marginally faster over long periods of time. This may sound like a bad thing, but if you consider the cost of repointing with lime against the cost of removing, matching and replacing damaged stones or bricks, drying out the damp and fixing any interior damage such as unhealthy mould, rotten ends to joists, skirting boards and lintels, even the corrosion of electric boxes, then the advantage of a repairable mortar becomes obvious. The thousands of lime built properties constructed and still standing, some after nearly half a century, bear testament to lime's durability and effectiveness and no lime built house should be repaired with anything else.