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Argos is ranked one of the top companies for Social Responsibility and Corporate Governance

Published by , Deputy Editor
World Cement,

Thanks to its commitment to corporate governance and the creation of social value for its stakeholders, Argos, the Grupo Argos cement company, entered, for the tenth year, the ranking of the most outstanding companies in Social Responsibility (SR) and Corporate Governance of Merco Colombia.

This measurement includes carrying out an extensive and rigorous survey applied to various audiences, including representatives of NGOs, financial analysts, unions, consumer associations and economic information journalists, among others. In addition, it evaluates variables such as ethical behaviour, transparency, good governance, responsibility towards employees, contribution to the community and commitment to the environment and climate change.

“2020 is a year that will remain in everyone's memory. The COVID-19 pandemic transformed the way we live and left us profound lessons, but it also redefined values such as empathy and solidarity, accelerated the search for universal purposes, and inspired reflection and debate on just social causes. At Cementos Argos we are deeply proud to reaffirm that in 2020 we will create social value and reinforce the commitment we have with the highest standards of sustainability and with the construction of institutions and a better society,” said Juan Esteban Calle, president of Cementos Argos.

In 2020, Argos returned to society 3.34 times the profit it withheld from it. The foregoing results from a model called the State of Value Added to Society or VAS (for its acronym in English), which the company developed seven years ago, allows it to monetise the positive and negative externalities derived from its management and value the social, economic and environmental impacts to determine the generation of sustainable value to society.

In social matters, there were multiple and diverse actions carried out by Argos in 2020, with which it ratified its commitment to being a good neighbour and ally in the development of communities. As a company, it registered a social investment of more than 4.6 million dollars that positively impacted the lives of more than 700 000 people. 55% of the investment was focused on supporting the management of the pandemic in the areas of influence in the three regions.

Likewise, during the year, Argos worked on updating its climate change strategy to seek to contribute significantly to the reduction of emissions and the responsible management of resources. Ongoing initiatives and programmes, such as green products, CO2 capture with microalgae, electric mobility, recycled aggregates, co-processing, among others, are part of this strategy.

Merco Responsibility and Corporate Governance conducted more than 5000 surveys among different interest groups during 2020 in order to evaluate companies' commitment to ethics, transparency, responsibility with employees, commitment to the environment and climate change.

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