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
Supplies of raw materials, energy, goods and services are important for TITAN operations and business continuity. The majority of suppliers, including contractors and sub-contractors is local. Accordingly, almost 60% of total annual expenditures for supplies is directed to local suppliers. The Group procurement policy aims at ensuring a sustainable supply chain and thus assumes that key suppliers, and particularly those closer to TITAN’s sphere of influence, like contractors, acknowledge and respect TITAN’s social and environmental standards. To this end, the Group Code for Procurement is communicated to all potential suppliers and specific criteria like safety performance are used for evaluation of suppliers’ performance. TITAN suppliers are invited to participate in multi-stakeholder fora and annual independent and third-party assessments of TITAN’s overall performance.
Moreover, internal assessments for health, safety and environmental risks carried out at all TITAN operations include contractors working for TITAN. In 2011, about 30% of the total number of main contractors for cement plant quarries was included in the scope of health, safety and environmental audits. TITAN invests systematically in raising awareness and supports suppliers to continuously adapt to higher standards. This long-term endevor is leading the integration of new management systems according to SA8000 in Albania, the inclusion of suppliers in internal and external assessment and auditing procedures, as well as in health, safety and environmental risk assessment programs.
Furthermore, TITAN participates actively in the implementation of CSR Europe’s collaborative venture on responsible supply chain and human rights, launched in 2011 in the framework of the ENTERPRISE 2020 initiative.