< F.Y.R. of Macedonia
Reviving the Global Compact Network
Distribution of value created by TITAN Group in 2011
Total value created in 2011 was €1026.6 million and distributed to key stakeholders as follows:
- To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law: €218.1 million
- To local and international suppliers: €642.9 million
- For new investments in fixed assets: €58.1 million
- To state and local authorities through taxation: €82.6 million
- Return to shareholders and minorities: €24.9 million
TITAN Usje has committed to support the revival of the Global Compact Network in F.Y.R. of Macedonia by joining efforts with the Network’s Secretariat and establish an Initiative Board. Aiming at working collectively and proactively to help local companies, organizations and stakeholders to understand and adopt the ten principles in their strategy and practices, the Initiative Board has held three meetings which resulted in the Annual Conference of the Global Compact Network, held on October 5, 2011.
The conference was focused on the members of the local UNGC Network and other companies interested in joining. Representatives from the UNDP, the Ministry of the Economy and the national CSR Coordinating Body were invited to the conference. The attending companies emphasized the importance of the network and the need for stronger engagement of all its members.