- Greece: Summer internships and on the job training
- U.S.A.: Volunteering and wellness
- F.Y.R. of Macedonia: First Company Open Day
- Bulgaria: Environmental educational program
- Greece: The Post-Graduate Students’ Forum
- F.Y.R. of Macedonia: Partnering with schools project
- Egypt: Engaging with local community
TITAN Group pledges
TITAN Group values express its engagement to apply the following international standards:
- U.N. Global Compact
- AA1000 Accountability Principles Standard
- ISO 14001: 2004 Environmental
Management System Certification - OHSAS 18001
- SA 8000 Social Accountability
- GRI (reporting guidelines)
- WBCSD/CSI (sectoral initiative)
- European Alliance for CSR
(European initiative) - E.U. Policy on CSR (Announcement, October 2011)
Also related to ISO 26000 CSR principles and particularly the following:
- Accountability
- Transparency
- Ethical behavior
- Respect for stakeholder interests
- Respect for the rule of law
- Respect for international norms
and behavior - Respect for human rights
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 has a long history of engaging with local communities in a spirit of honesty, mutual trust and shared values - based on the concept of branching out and adding value. In 2011, TITAN continued its long-term community development initiatives, promoting the establishment of a new local advisory panel in Kosovo to support a more inclusive and responsive approach to funding local development projects. Community engagement that results in mutual trust and social acceptance has been the focus of stakeholder engagement workshops for local management teams. In many cases successful outcomes, like those in Serbia and Bulgaria, have proved that this is the right way to attain TITAN objectives.
Expansion of the alternative fuels program in Bulgaria was considered after consultation with local stakeholders, who look forward to broader participation and further co-operation in this program.
In the U.S.A. volunteering and social solidarity is a long tradition and has provided valuable lessons for the whole TITAN Group. In 2011 these efforts continued, while new initiatives were launched by employees.
To adopt an even more strategic approach to engagement with stakeholders, and to sharing value created by TITAN, a new program will focus on measuring and communicating TITAN’s social footprint in a more comprehensive and meaningful way. To meet this aim, local reports on social and environmental performance have been produced already in F.Y.R. of Macedonia and Serbia, while in Bulgaria a stakeholder profiling survey has recorded the areas of interest and priorities of all relevant parties.
The new tool created by TITAN for measuring the social footprint will follow international standards but it will be tested and integrated at local level so as to be useful at both corporate and Group level.
Local stakeholder fora and other community engagement activities have proven that TITAN has adopted a business strategy that is incorporating stakeholder concerns. TITAN’s commitment to joint action and participation in local business networks and corporate social responsibility initiatives is welcome and expected to continue and strengthen.