The role and scope of the TITAN Group CSR Committee established in 2005 was revised in 2009. The main mission of the enlarged Group CSR Committee, chaired by the Managing Director of the Group, with the three regional Business Directors and Group function Directors as members, is to be the custodian of the implementation of the Group CSR vision and policy.

TITAN’s CSR vision is to “conduct its business in an ethical and socially responsible manner doing less harm and endeavoring to do more good”.

The TITAN Group CSR department is the advocate coordinator of the Group’s CSR effort, aided in its mission by a recently appointed network of Liaison Delegates per country and per Group function. Each region and country has formed its own local CSR Committee to develop and implement local CSR action plans.

Values and Code of Conduct

The TITAN Group Code of Conduct  was launched in 2004 through a written document related to corporate values and the international standards. It has been translated into all languages spoken by TITAN employees so as to provide the guiding framework for consistent practices. The written documents were revised and a phone based Employee Direct Communication Line was set up in Greece and extended through intranet in 2009 to encourage employee participation in living Corporate Values and applying the Code of Conduct. Last year through this line one complaint, four allegations and two requests were received and reviewed by the appointed committee. All recorded information were investigated accordingly and action was taken as response to each case.

The same direct-phone and internet-based Employee Hotline was launched in January 2010 for TITAN America employees.

To ensure that all employees and managers are aware of and follow the corporate values and principles in practice, each region has taken all locally appropriate communication training and follow-up measures to ensure compliance with Corporate Values and Code of Conduct. All new employees have attended relevant induction courses, while specialized CSR and Sustainability workshops and communication days for employees and key stakeholders implemented in TITAN facilities.

The Code of Conduct, being a “living” document will be revised in 2010. New training programs including “refreshment courses” will be developed and implemented and distant learning thematic courses will be offered to employees, key suppliers, customers and other interested stakeholder groups.

The TITAN Group Code of Conduct clearly prohibits giving and receiving bribes, as well as any other form of corruption. Moreover, the Group Procurement Code of Conduct  guidelines under which TITAN operates, sets forth the obligation to abstain from any action that could be interpreted as an act of bribery, corruption or fraud. The Transparency International‘s annual Corruption Perception Index (www.transparencyinternational.org) is the main tool used to assess exposure of TITAN operations to the risk of bribery and corruption. Reports are discussed during CSR and Sustainability workshops focusing on practices to anticipate relevant issues.

Managing risks and opportunities

The TITAN Group has a firm policy for managing both financial and non-financial risks so as to strengthen its capacity to respond proactively and mitigate them. The Group CSR Committee has the responsibility to direct all efforts focused on identification and assessment of the so called non-financial risks and relevant opportunities. To meet this aim, the Committee consolidates and evaluates: 

• The annual independent assessment and verification report provided by the auditors 
• The outcomes of CSR and Sustainability workshops 
• The outcomes of stakeholders’ forums and other feedback received from key stakeholders, such as SRI Reports 
• The Safety Performance Report 
• The Environmental Performance Report 
• Description of incidents and unforeseen events 
• Sectoral and counrty-level reports identifying risks and future trends

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