Cemex recognised for social impact

Cemex announced that it has been included in Fortune’s 2024 Change the World list for the fourth time. The list showcases businesses out of about 250 companies that are having a positive social impact through activities that are part of their core business strategy.

Fortune recognised the company's work with VeryNile in cleaning the Nile River, developing a more sustainable solution for the collected waste. VeryNile is an initiative supported by the Ministry of the environment in Egypt that develops eco-friendly solutions to remove inorganic waste from the river. Plastics recovered are up-cycled and non-recyclables are used as alternative fuel in Cemex’s Assiut cement plant, alleviating pollution issues in the local ecosystem and improving water quality for the community while also providing 150 alternative jobs and income for fishermen and women affected by Nile contamination.

Fernando A González, CEO of Cemex, said, “We are once again honoured by Fortune’s recognition of our sustainable business model, which aligns environmental conservation with social empowerment. The VeryNile initiative exemplifies how companies can collaborate with NGO’s and society to change the world for the better.”

In 2020 Fortune recognised the company for building mobile hospitals with antibacterial concrete modules in record time during the COVID-19 pandemic. The ‘Our Growing Platform’ initiative was awarded in 2017 for collaboratively addressing the challenges of housing and inequality in vulnerable communities. Two years earlier, in 2015, Cemex was honoured for its ‘Patrimonio Hoy’ programme, which provides low-income families with access to building materials, micro-financing, technical advice and logistical support to help them build their homes.

The Fortune Change the World list highlights companies that use their innovative capabilities to tackle social challenges, leveraging business success to pursue goals that are as crucial as, or even more important than, financial gains. This year, companies were clustered into four groups, with some falling into multiple categories: environmental impact, economic opportunity, public health and human rights. In assessing the nominees, the most critical factors considered were measurable social impact, business results and the degree of innovation.