- Cemex was recognized for its innovative work with the 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 Very Nile 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.
