Compare to Report 2010

“In the ten years since its launch, the United Nations Global Compact has been at the forefront of the U.N.’s effort to make the private sector a critical actor in advancing sustainability.”

Change takes place essentially at the local level. Empowering local networks to support companies to meet their social and environmental commitments is therefore a vital condition for the future of the U.N. Global Compact Initiative. This statement was clearly underlined by key stakeholders in the consultations following the tenth anniversary of the launching of the initiative.

TITAN’s engagement with the Global Compact Initiative started in 2002 when less than 500 companies world-wide had signed the pledge. To meet its voluntary commitments, TITAN fully incorporated Global Compact principles into its policies and practices, while reporting social and environmental challenges and performance according to international standards and best practices since 2003.

Moreover, in 2007 the procedure for on-going evaluation adopted by TITAN resulted in the development of a more robust and integrated process of both internal self-assessment and independent, third-party assessment and verification. Receiving feedback from stakeholders and fostering continuous improvement on all fronts is part of the whole process.

TITAN responded positively to the U.N. Global Compact appeal for self-asses­sment, and following the relevant criteria the Group 2010 CSR and Sustainability Report was compiled and classified accordingly, and ranked at the “advanced” level in the relevant ratings.

During these last ten years special emphasis has been laid on making not only TITAN Group companies but also their associates more aware of the need for collective action in the spirit of the Global Compact Initiative.

In 2007 TITAN conceived the idea of helping to set up national Global Compact networks. At that point in time TITAN had already founded with twelve other companies and three business associations the Hellenic Network for CSR.

In 2008, the Global Compact Network was also established in Greece and in the following year TITAN also joined the Global Compact Network in F.Y.R. of Macedonia In 2011 another step towards strengthe­ning collective action at local level was the foundation of the Corporate Social Responsibility Network in Kosovo. At the same time, preparatory contacts were made for the establishment of a similar network in Albania.

In addition TITAN also engaged its own resources in all southeast European countries to support and facilitate co-operation among the networks and their members in the region. Intended to develop a common agenda for action on areas of common interest – such as the protection of human rights and combating corruption - the first regional network meeting and conference was scheduled for the beginning of 2012.