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Part C: Report of COSCON, a pilot unit of sustainable development of COSCO |
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This is the first Report on Sustainable Development of Global Compact and Social Responsibilities, which aims aim reporting to the shareholders all over the world and the public the activities and achievements in connection with the implementation of global compact social responsibilities. The Report mainly involves the environment of the Company and the social and economic activities and is composed of four parts, namely management, security and environment, society and economy. Some corresponding chapters of the Report describe 10 principles required by global compact and the detailed performances and achievements of the business targets, facilitating the readers to understand the operation on each aspect of the Company. The Report is written in both Chinese and English while the Chinese version is taken as the basis of auditing. References: Guidance to the Report of Sustainable Development (Edition in 2002) published by GRI. Reporting period: The fiscal year 2005 (i.e. the calendar year of 2005). Exceptions: Some of the business activities that started before 2005. These activities were noted in the Report. Data: • Except for otherwise mentioned in the Report, the financial statement is presented in accordance with Annual Report of COSCO in 2005. The financial data presented in the Report conform to the regulations in Hong Kong Accounting Norms and Hong Kong Financial Report Norms. • Except for otherwise mentioned in the Report, the data of employment, salary and remuneration, holidays and training only involve the headquarters of the Company. • The data of the total staff involve the headquarters of the Company, the 75 fully-owned in China (not including the 127 subsidiaries and offices that have no requisite qualifications of legal person), the 63 joint ventures in China (not including the 22 subsidiaries and offices that have no requisite qualifications of legal person), the 22 fully-owned subsidiaries abroad (not including the 50 non-operation shipping companies) and the six joint ventures in foreign countries. • The fact that some employees don't work at the headquarters of the Company causes very low consumption of the environment, which means the data on the environment in the Report only involve the shipping practice of the headquarters and the offices of the headquarters, excluding the business practice and the offices of the exclusively-invested and joint-ventured subsidiaries.
With an aim to ensure the quality of the Report, the Company had compiled the Report in accordance with the Guidance to the Report of Sustainable Development (Edition in 2002) published by GRI regarding 11 principles such as openness, capacity, auditability, integrity, relativity, background of the sustainable development, accuracy, neutrality, comparability, definition and timeliness. Besides, it had carried out comprehensive reviews on the Report according to the Procedures for Examination and Audit of Internal System. In order to ensure the justice and transparency of the Report, a world-renowned third party was invited to audit the Report. The Report and the auditing results submitted to the Global Compact Office of the United Nations are to be published on the designated website. Please visit http://www.coscon.com for more information about the economical, environmental and social influences caused by the operation activities of the Company,
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