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TITAN Group takes the lead in implementation of international standards and best practices with the issuing of its first Integrated Annual Report
The TITAN Group is taking the lead in application of international standards and best practices with the issuing of its first Integrated Annual Report - the first in Greece. The Integrated Report has been prepared in accordance with the International Framework Consultation Draft (IIRC) and continues a 30-year tradition of commitment to transparency and to keeping stakeholders regularly and comprehensively informed and engaged.
Corporate Social Responsibility has always been one of the TITAN Group’s core values, guiding and informing its business practice. Since 1983 the Group has been voluntarily issuing a separate Social Report, in addition to its Annual Financial Report. It has now taken the next step forward by merging the two traditional Reports into one Integrated Report. This approach, in line with what is today increasingly viewed as best practice, better reflects the fact that CSR is not ancillary to the business, but forms an integral part of it.
This new initiative underlines the Group’s commitment to transparency and to the provision of regularly updated information and equal treatment for all stakeholders, thereby helping to promote a more sustainable global economy.
The Group’s Integrated Annual Report for 2012 is the sixth in succession to be verified by an independent auditor, and adheres to every international standard that it has incorporated. The verification statement is included in the Report which is available online, at www.titan-cement.com
- 10 years of commitment to the U.N. Global Compact
- A 47% reduction in net debt despite the 19% increase in the Group’s production capacity through investments in emerging markets, during the period 2008-2012
- We have already achieved the set targets for 2015 relating to specific dust emissions and water consumption
- Increase in human resources training investment
- We have taken initiatives on the international and local level to develop collective activities with stakeholders related to CSR and Sustainable Development in all the countries in which the Group operates, including the establishment of national CSR networks and networks to promote the UN Global Compact.
- We have launched a new subsidiary company in Bulgaria called GAEA - Green Alternative Energy Assets Ltd - in cooperation with American Environmental Evolution (E2), specializing in offering solutions for waste management/environmental protection, waste utilization and alternative fuels production.