Commemorate...
To commemorate means to remember officially and give respect to a great person or event, especially by a public ceremony or by making a statue or special building: Gathered all together in this church, we commemorate those who lost their lives in the war. Link
The meaning is quite clear in stating the remember and then celebrating the person. It shows that a person worthy of honor can be forgotten. After achieving a great feat, it might not be recognized immediately, hence honor is not given until the person is remembered for his work. Sometimes, this remembrance is done after the person is dead. I have seen folks remembered for their work or their contribution to the society after they have passed on, they are celebrated and honored.
Acts of commemoration helps encourage and builds the morale of the younger generation to do exploit and make the society better. It is like a wake up call to the younger generation.
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