Category 3 is an insulated, multi layer pipe. the whole point is to prevent burning materials in direct contact with the pipe, like roofs or walls. Generally you also want a 1" gap between the pipe and surrounding materials. Your pipe idea shoukd work fine, so long as the pipe does not come into contact with flammable materials.
Discussion
did you get that figured out?
It'll be fine lol hopefully 
just remember what i explained earlier. its all about not starting a fire by the hot exhaust pipe being in contact with flammable wall/roof material. if you insulate that pipe from rhe flammable materials, it should be fine, and thats whay the proper pipe does inherently.
looks fine to me, especially if itβs surrounded by concrete