TITAN one of the oldest industrial enterprises in Greece, produces and trades cement and building materials. Over the last 20 years it has developed into a multiregional enterprise with activities in Greece, South Eastern Europe, the Eastern Mediterranean and North America.

As an early recognition of the need to communicate transparently and honestly with its stakeholders, TITAN has been issuing a Social Report since 1983. In 2003 it was extended to cover all Group activities in line with the requirements of the Global Reporting Initiative.

Continuing the tradition of a socially responsible enterprise, TITAN acknowledged the need to take both corporate and collective action early. First steps in this journey were the voluntary commitment to the Global Compact Initiative in 2002 and the participation in the sectoral Sustainable Development Initiative (CSI) of the World Business Council of Sustainable Development in 2003.

Today, the principles of corporate social responsibility and sustainable development are incorporated in TITAN’s strategy and business practices placing the utmost emphasis on safety at work, mitigating and reducing the impact of its operations on the environment, contributing to the well being of its employees and the neighboring local communities. In this context transparent communication and hones-t dialogue are essential to foster mutual trust and cooperation with all stakeholders and particularly employees, local communities, customers, suppliers, shareholders, non-governmental organizations and public authorities.

In October 2008, in an effort to further enhance communication as a systematic, two-way process, involving cooperation and proactive engagement with all stakeholders, TITAN organized the 1st Stakeholders’ Forum in Greece. This initiative was not only an innovation for both TITAN and Greece, but proved to be an extremely valuable exercise on self-assessment and self-improvement. Among else, the more extended analysis and presentation of social and environmental footprints were adopted in line with stakeholders’ proposals, so as to enhance better understanding and learning from progress achieved in all fronts. Based on the very positive feedback of this national initiative, stakeholder engagement will be extended to local communities in Greece branching out to other regions the know how and experience gained.

A decade of commitment to action is outlined in this section. As we move into the next decade, continuous learning and self-improvement, listening to and communicating with our stakeholders, accountability and transparency in our policies, decisions and performance, and external assurance will be the framework for pursuing TITAN’s corporate social responsibility and sustainability goals.

Accountability Rating, Greece

For the second consecutive year the TITAN Group has been placed first in the annual corporate accountability ratings, Accountability Rating, Greece. In 2009 the Group was awarded a total score of 64.3, up 4.3 points on the previous year’s rating. The Accountability Rating is a tool for measuring the extent to which companies have built responsible practices into the way they do business and their impact on their economies, societies and environments in which they operate. The Rating has been developed by CSR consultancy “CSR network” and the international think tank “AccountAbility”. It was first applied in 2004. The results of evaluations are published in “Fortune” magazine.

The Rating draws on information companies put into their public reporting, as well as on their actual social and environmental performance. It rates companies on four “domains”: strategic intent, governance and management, engagement and operational performance.