- Cemex was recognized for its innovative VeryNile initiative in
Egypt and placed in the 24th position out of 52 ranked
companies.
Cemex announced today that it has been included in Fortune’s
2024 Change the World list. The list, selected by Fortune reporters
and editors from a list of about 250 companies, showcases
businesses that are having a positive social impact through
activities that are part of their core business strategy. Cemex is
receiving this distinction for the fourth time.
Fortune recognized Cemex’s work with VeryNile in cleaning the
Nile River and 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 Nile River. Plastics
recovered from the river are upcycled, and non-recyclable waste is
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.
"We are once again honored by Fortune’s recognition of our
sustainable business model, which aligns environmental conservation
with social empowerment," said Fernando A. González, CEO of Cemex.”
“The VeryNile initiative exemplifies how companies can collaborate
with NGO’s and society to change the world for the better.”
Cemex’s social impact strategy focuses on making a positive,
lasting difference in cities and communities worldwide by
supporting local economies, building resilient communities, and
empowering people through skills development for employability and
entrepreneurship. Cemex implements this strategy in collaboration
with community leaders and local stakeholders.
In 2020, Fortune recognized Cemex 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 honored for its ‘Patrimonio Hoy’
program, which provides low-income families with access to building
materials, microfinancing, 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.
This year's list includes 30 from North America, 12 from Europe,
8 from Asia and Australia, one from Africa, and one from South
America.
The full Fortune 2024 Change the World list is available at:
https://fortune.com/ranking/change-the-world/.
About Cemex
Cemex is a global construction materials company that is
building a better future through sustainable products and
solutions. Cemex is committed to achieving carbon neutrality
through relentless innovation and industry-leading research and
development. Cemex is at the forefront of the circular economy in
the construction value chain and is pioneering ways to increase the
use of waste and residues as alternative raw materials and fuels in
its operations with the help of new technologies. Cemex offers
cement, ready-mix concrete, aggregates, and urbanization solutions
in growing markets around the world, powered by a multinational
workforce focused on providing a superior customer experience
enabled by digital technologies. For more information, please
visit: www.cemex.com.
Except as the context otherwise may require, references in this
press release to “Cemex,” ”we,” ”us,” ”our,” refer to Cemex, S.A.B.
de C.V. (NYSE: CX) and its consolidated subsidiaries. This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We intend
these forward-looking statements to be covered by the “safe harbor”
provisions for forward-looking statements within the meaning of the
US Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect Cemex’s current expectations and
projections about future events based on Cemex’s knowledge of
present facts and circumstances and assumptions about future
events, as well as Cemex’s current plans based on such facts and
circumstances, unless otherwise indicated. These statements
necessarily involve risks, uncertainties, and assumptions that
could cause actual results to differ materially from Cemex’s
expectations, including, among others, risks, uncertainties, and
assumptions discussed in Cemex’s most recent annual report and
detailed from time to time in Cemex’s other filings with the U.S.
Securities and Exchange Commission and the Mexican Stock Exchange
(Bolsa Mexicana de Valores), which factors are incorporated herein
by reference, which if materialized could ultimately lead to
Cemex’s expectations and/or expected results not producing the
expected benefits and/or results. Forward-looking statements should
not be considered guarantees of future performance, nor the results
or developments are indicative of results or developments in
subsequent periods. These factors may be revised or supplemented,
and the information contained in this press release is subject to
change without notice, but Cemex is not under, and expressly
disclaims, any obligation to update or correct this press release
or revise any forward-looking statement contained herein, whether
as a result of new information, future events or otherwise, or to
reflect the occurrence of anticipated or unanticipated events or
circumstances. Any or all of Cemex’s forward-looking statements may
turn out to be inaccurate. Accordingly, undue reliance on
forward-looking statements should not be placed, as such
forward-looking statements speak only as of the dates on which they
are made. The content of this press release is for informational
purposes only, and you should not construe any such information or
other material as legal, tax, investment, financial, or other
advice. Cemex is not responsible for, and expressly disclaims
responsibility for, the content of any third-party website or
webpage referenced to or accessible through this press release.
There is currently no single globally recognized or accepted,
consistent, and comparable set of definitions or standards (legal,
regulatory, or otherwise) of, nor widespread cross-market consensus
i) as to what constitutes, a ‘green’, ‘social,’ or ‘sustainable’ or
having equivalent-labelled activity, product, or asset; or ii) as
to what precise attributes are required for a particular activity,
product, or asset to be defined as ‘green’, ‘social,’ or
‘sustainable’ or such other equivalent label; or iii) as to climate
and sustainable funding and financing activities and their
classification and reporting. Therefore, there is little certainty,
and no assurance or representation is given that such activities
and/or reporting of those activities will meet any present or
future expectations or requirements for describing or classifying
funding and financing activities as ‘green’, ‘social’, or
‘sustainable’ or attributing similar labels. We expect policies,
regulatory requirements, standards, and definitions to be developed
and continuously evolve over time.
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version on businesswire.com: https://www.businesswire.com/news/home/20240925838218/en/
Analyst and Investor Relations - New York Blake Haider +1 (212)
317-6011 ir@cemex.com
Analyst and Investor Relations - Monterrey Fabián Orta +52 (81)
8888-4327 ir@cemex.com
Media Relations Jorge Pérez +52 (81) 8259-6666
jorgeluis.perez@cemex.com
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