About the Report
About the Report
102-50 102-32 This is Cementos Argos’ 5th Integrated Report. It provides insight into our company’s economic, social and environmental performance for the reporting period from January 1st to December 31st 2016. It has been formally reviewed and approved by our CEO and senior members of the Executive Committee.
Throughout the report, we disclose our business lines by region, clearly stating our sustainability strategy and the management of strategic and emerging risks. Each chapter also includes information on future challenges and goals, as we seek to operationalize our medium- and long-term business strategy.
The prioritization of the aspects included in this report is the result of a thorough and comprehensive materiality assessment developed in 2015, which is further explained in the Materiality chapter. Our stakeholders were consulted in this prioritization process and we aim to address their needs, interests, and aspirations in this report.
Likewise, this report seeks to highlight the interconnected nature of our material aspects and how the appropriate management of each affects the overall performance of the organization. Every reported aspect includes information regarding governance, management approach, and goals, and although they are grouped according to economic, social, and environmental dimensions, there are clear connectors and guiding principles for all of them.
In order to improve our reporting practices and the reading experience for our stakeholders, we have made this report as concise as possible, by presenting the information stakeholders value most without undermining the integrity and comprehensiveness of the exercise. Additionally, our consistency in the use of reporting frameworks allows the reader to compare our data with that of other companies and also to previously reported years.
In order to maintain comparability with the figures published in past reports, they are expressed in pesos and USA dollars at a representative market exchange rate of COP $3,000.74. GRI Standard indicators are identified in the report with the following symbol: code. Value chain boundaries of each topic are also identified below the respective title when applicable.
Sustainable Development Goals alignment with our sustainability strategy can be found on page 40 (click here) and in each chapter with the UN SDGs logo.
This report has been guided by the International Integrated Report Council (IIRC) and is in Core Compliance with the Global Reporting Initiative (GRI) Standard and reporting criteria. Our GRI Content index, which contains supplementary information. Click here for the supllementary information.
This report also aligns with:
- The Cement Sustainability Initiative (CSI)
- The International Financial Reporting Standards (IFRS)
Additionally, this document serves as a communication on progress for:
- The United Nation Global Compact
- The Sustainable Development Goals (SDG)
- The CEO Water Mandate
The aspects prioritized in this report are the result of a thorough identification, priorization, and validation process of the social, economic, and environmental issues that our stakeholders consider to be critical for the organization’s sustainability, an analysis of strategic risks, business opportunities, sustainability commitments, and the organization’s 2025 Plan. This assessment was conducted in 2015 and will be reviewed in 2017.
Unless otherwise stated, all cases and data disclosed in this report include the activities of all companies whose figures are consolidated in our financial statements in accordance with international standards in the cement, concrete, and aggregates businesses in Colombia, the Caribbean and Central America, and the USA.
Independent assurance for this report has been provided by Deloitte. Click here for more information on our assurance for the current reporting period.