Annual Report of the BoD

Annual Report 2012

Corporate Social Responsibility and Sustainable Development

In the course of 2012, continuing economic hardship increased awareness, globally as well as within the sector, of the need for sustainable development and social responsibility in all facets of business activity.  The adoption of new business approaches giving priority to communal action and the search for solutions which benefit society as much as business activity formed a cornerstone of Titan Group strategy in this field.

In the realm of safety at work, the continuous effort at improving the Group’s performance was overshadowed by a fatal accident at one of the Group’s cement silos in Florida, USA, the first such accident in seven years. The re-examination of all possible hazardous causes and near accidents is continuing and enhanced while initiatives on education and on the development of an accident-preventive mentality remains an overarching priority in this realm across all Group activities.

Within this framework, two new initiatives were launched in Greece aiming at raising awareness on safety matters. The first of these, under the general heading “Safety at Home” is addressed to elementary and high school students and was carried out for more than 2,000 students attending school in areas adjacent to Group operations. The second initiative, involved university engineering students and is a joint action undertaken with the non-governmental student organization BEST of the University of Patras.

In 2012, the effort at Titan Group for the holistic improvement of its environmental footprint continued unabated, while new commitments were undertaken within the industry’s initiative as this is expressed through the Cement Sustainability Initiative (CSI) of the World Business Council for Sustainable Development (WBCSD), aiming at strengthening transparency and dialogue among the main stakeholders, the application of common standards in areas of crucial importance such as quarry rehabilitation and the respect for biodiversity, water management and alternative fuel usage.

The reduction in carbon dioxide emissions achieved through the utilization of the production of Group subsidiary Separation Technologies, as well as through the increased usage of alternative fuels in the production process, allows the performance of Titan Group to be compared against the best performances attained in this realm by other members of the CSI.

In the first half of the year, the Group completed the third revision of its Code of Conduct which was subsequently communicated to all interested parties as well as disseminated through the appropriate training of Group management to ensure its effective application.

Finally, Titan Group, continuing its efforts at strengthening communal action, participated actively in the first regional meeting of national networks under the UN Global Compact which took place in Thessaloniki, Greece.

Titan Group’s 9th Corporate Social Responsibility and Sustainability Report was prepared as per the international standards and specifically the recently revised edition GRI G3.1., the relevant guidelines of the WBCSD/CSI and the criteria laid out by the UN Global Compact for an “Advanced level” Report. The independent audit carried out by expert auditors, verified the achievement of the highest A+ level for Titan Group’s Corporate Social Responsibility and Sustainability Report as per the GRI.