Strategy and Risk Management

Annual Report 2012

Stakeholder Engagement: Key Material Issues and Outcomes by Country

Our operations are local and serve primarily local needs for housing, infrastructure and the like. Apart from opportunities for employment, TITAN’s operations offer a variety of opportunities for collaboration with local companies and individuals. Moreover, TITAN has always considered as key to its long-term sustainability the close collaboration with local communities.

The Group’s Social Policy, designed to maximize the added value created by its operations for the communities that are more closely related to company operations, is "reaching out and adding value". This policy includes not only contributing financially to the well-being of communities (either in cash or in kind), but also providing other valuable human, technical, educational and technological resources to achieve the best outcome. This policy suggests a collaborative approach to everything we do. It has been tested successfully in areas where the Group has had a long-term presence and is bearing positive results in other areas.

The table below presents a synopsis of the results of our stakeholder engagement endeavors by country of operation as well as outcomes. Responding to the key material issues of our local and other stakeholders is part of the way we “Go Deep” and embed sustainability throughout our organization and “Go Local”, ensuring that we are accurately responding to the most important material issues of concern to our stakeholders.

Key Material Issues and Outcomes by Country

Country Key Material Issues Outcomes
Greece Continued economic contraction and employment concerns
Health and Safety
Community relations
Energy and waste management issues
  • Efforts to retain jobs
  • Improve working conditions for employees, living conditions for neighboring communities
  • Increase awareness for the utilization of alternative fuels
  • Provide support to the most affected groups of stakeholders
U.S.A. Health and Safety
Sustainability of concrete and future economic development
Environmental performance and biodiversity
Community relations
  • Improve working conditions for employees, living conditions for neighboring communities
  • Engage with stakeholders to increase awareness about the social values served by concrete structures
  • Continue to improve environmental performance
Albania Social and environmental impact of greenfield investment
Health and Safety
Local employment opportunities
Environmental protection
  • Improve working conditions for employees, living conditions for neighboring communities
  • Engage with stakeholders to promote win-win solutions for energy and waste management
  • Expand collaborative efforts at local level
Egypt Social and political instability
Health and Safety
Energy sources and new challenges
Community relations
  • Empowering our people
  • Support communities, customers and business partners
  • Provide support to the most affected groups of stakeholders
F.Y.R. of Macedonia Health and Safety
Integration of international and European standards
Community relations
  • Improve skills and competencies
  • Increase transparency and credibility
  • Engaging with stakeholders to develop win-win solutions
  • Expand collaborative efforts at local level
Serbia Health and Safety
Integration of international and European standards
Increase transparency and credibility
Community relations
  • Improve skills and competencies
  • Integrate best practices
  • Continue to engage with key stakeholders on material issues
  • Improve awareness for co-processing of alternative fuels
Turkey Health and Safety
Integration of international and European standards
  • Improve skills and competencies
  • Integrate best practices
  • Strengthen communication and collaboration
Bulgaria Health and Safety
Community relations
Expand opportunities for waste management at local level
  • Improve skills and competencies
  • Increase transparency and credibility
  • Continue to engage with key stakeholders
Kosovo Health and Safety
Integration of international and European standards
Increase transparency and credibility
Community relations
  • Improve skills and competencies
  • Integrate TITAN’s values and principles
  • Increase transparency and credibility
  • Prepare for licensing of co-processing of alternative fuels