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Value Added Statement to Society (VAS)

Value added statement (VAS)

Value Added Statement (VAS) is a tool that allows us to asses and actively manage each one of our main externalities related to our operation.

What an externality is?

Externalities are the costs and benefits that society receives involuntarily because of our operation. These costs and benefits are monetized to reflect the impact that our operation had on society in a given period.

Through this we:

  • Offer extraordinary solutions to our customers.
  • Respond more accurately to the interests and needs of the stakeholders.
  • Ensure our sustainability.
  • Contribute to transparency in the sector.
  • Sensitize the stakeholders and society about the impacts of our business.

Model and methodology

Every year, we update the model, review its scope and input the figures from our management..

Review of the scope and methodology

Update and adjustment of the model

Analysis of data and results and definition of implementations

Sharing and dissemination of results

Externalities assessed

We currently assess eleven externalities whose contributions, positive or negative, increase or reduce the value generated to our different stakeholders. This analysis includes information from all our regions (Colombia, United States, and the Caribbean and Central America) and all the business lines (cement, concrete and aggregates). The result of the total sum of our externalities is the net value generated to society.


1

Wages and Benefits

Impacts in the economy derived from the remuneration of our employees.

2

Interests and Dividends

Impacts in the economy related to the payment of interests and dividends to financial and investors.

3

Taxes

Impacts in the economy associated to the payment of taxes to governments of the countries where we operate.

1

Talent Development

Impacts derived from the development and improvement of the human capital trained in Argos that is reintegrated into the labor market.

2

Investments in Communities

Impacts by housing projects, community and education infrastructure, scholarships, among others.

3

Health and Safety

Impacts on employees and communities, associated to accidents (injuries and fatalities) and occupational diseases.

1

Greenhouse Gas Emissions (GHG)

Generation of greenhouse gases (CO2 emissions, scope 1 and 2) associated to climate change.

2

Alternative Materials and Fuels

Replacement of conventional raw materials and fossil fuels with other alternative ones, which reduces CO2 emissions.

3

Water Consumption

Impacts on the water resource caused by our consumption.

4

Air Emissions

Generation of NOx, SOx and particulate matter emissions, associated to air pollution.

5

Biodiversity

Impacts on biodiversity by our operations, including benefits from compensation and rehabilitation programs.

USD 787.6 m Was the net value delivered to society during 2018, 3.23 times the benefit we retained in the same period.

Download our VAS reports VAS 2018

Check out the following reports to know the detail of the methodology and the applications of the assessment done since 2016