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B.Strategy
and management
C1.
Economy
C2.
Environment
C3.
Products
C4.
Labors
C5.Human
Rights
C6.
Society
Third party auditing opinions Table of Articles in GRI Report Guidance
   
    Statement of president
    General information of COSCO
    General information
of report
  1、 Coverage of report
  2、 Report compilation
principles
  3、 Ensuring measures
  4、 Scope and level of the
report
 
    Basic profile of first-batch companies implementing Global Compact and sustainable development management system
  1、 Shipping
  2、 Logistics
  3、 Ship-building and ship-repairing
  4、 Others
  5、 Overseas company
 
    Global compact and sustainable development
  1、 Overview of COSCO’s promotion of global compact and sustainable development
  2、 Achievements of COSCO Sustainable Development Report 2005
  3、 Implementation of global compact and sustainable development in 2006
  4、 Plans and proposals for implementing global compact and sustainable development in 2007
  5、 Program of implementing Global Compact and sustainable development management system
  6、 COSCO’s institutions and staff for sustainable development
 
    Awards
  1、 Companies’ awards related to global compact and sustainable development
  2、 Summary of COSCO’s awards at home and abroad in 2006
 
 
Guided by the scientific concept of development, China Ocean Shipping (Group) Company (hereinafter referred to as COSCO Group) in 2006 further pushed forward its sustainable development strategy and successfully achieved the strategic objectives of corporate reform, development and stability, while consolidating the base for the core business in comprehensive coordination and sustainable development. The corporation improved its brand name and position while making a good start for further development during the 11th Five-Year Program. The comprehensive strength of COSCO Group was substantially enhanced, making it one of the backbone enterprises in the 7 major industries appointed as the lifelines of the national economy by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the world's second largest global shipping group by comprehensive strength and one of the Fortune Global 500 enterprises.

On Dec. 2006, we released the COSCO Sustainable Development Report 2005, which passed the scrutiny of the international authoritative agency Det Norske Veritas (DNV) and was included in the United Nations' Global Compact Examples List. The report which was made available to the world through the website of the United Nations' Global Compact, was very well received. This was the first time that a Chinese enterprise or a shipping enterprise anywhere in the world was included in the Examples List.

On Jul. 5, 2007, I made a presentation at the UN Global Compact Leaders Summit in Geneva following an invitation from the UN Secretary General Ban Ki-Moon. At the summit, I proposed and made a solemn commitment to the leaders of the global business communities, political communities and social organizations that we would "Perform the global compact, build a harmonious society and promote world harmony". This is because I am very much aware that the advanced corporate liability concept and practice has become the core competitiveness for an enterprise in this economic globalization era. Actively taking the social liabilities will not hamper but promote the development of the enterprises. The competitiveness in social responsibility has become a kind of new and important reflection of international competition and the core competitiveness of an enterprise. Meanwhile, only by the enterprise acting firstly and making efforts to build a "harmonious enterprise" by embracing the global compact can it benefit our goal of building a beautiful "harmonious world" and push forward this goal. As a result, COSCO has gradually established a management system for sustainable development. Improving all processes and links ranging from strategy to execution, from process to operation, from decision-making to implementation. From objective to evaluation and from basic data collection and analysis to report writing and release to build a long-term effective mechanism for performing social responsibility and achieving sustainable development.

2006 marked the second year since COSCO Group adopted the UN Global Compact and fulfilled the ten principles of the Global Compact. During these two years, we adhered to our previous practice to perform our social responsibility and undertake the liabilities as a corporate citizen, making contributions to such aspects as human rights, labor principles, security, energy-saving, environmental protection, anti-corruption, anti-terrorism and the public welfare undertakings. In this way, we went ahead of other domestic enterprises and further established our good social image as an international corporate citizen while promoting our fast development.

The COSCO Sustainable Development 2006 was edited according to GRI 2006, adjusting and adding the management measures and the performance indicators with general indicators covering the whole group. We particularly reinforced the collection and the analysis of environmental indicators to provide scientific bases for the enterprise to better fulfill its liability in environmental protection. COSCO Group is a diversified enterprise with a global presence, so it is a huge systematic project to fully establish and improve the effective mechanism for the social responsibility and sustainable development. As a result, we developed a rigorous implementation, planning with a more practical attitude and in a more reasonable way, propelling the global compact and sustainable development in a planned and orderly way by rating the risks of the business to the sustainable development. Based on the pilot experience of COSCO Container Lines in 2005, the COSCO Sustainable Development Report 2006 decides the initial 15 enterprises in shipping, logistics and ship repair that have big impacts on the sustainable development, to implement the sustainable development management system in accordance with inspection and analysis. All companies directly managed by COSCO will be included into the sustainable development management system within 2 years.

With the scientific concept of development, COSCO Group focuses on guiding the management innovation, building a resource-efficient enterprise and a harmonious enterprise and achieving the enterprise's sustainable development. COSCO Group will set up the excellent corporate concept criteria and operation models and cultivate the cooperation spirit as an international enterprise via long-term efforts, thus further enhancing the enterprise's sustainable development management system and fully performing our social responsibility.

The report was compiled as required by the 2006 Sustainability Reporting Guidelines of the Global Reporting Initiative (GRI). To ensure its reliability, COSCO has submitted the report to the Global Compact Promotion Office of China Enterprise Confederation and the Det Norske Veritas (DNV) for examination and evaluation.

   
Oct. 18, 2007    
 
 
 
Cosco 2007.12