Global Compact
Transport Safety
Sustainability Report
Global Compact  
Home Page
>>Sustainability>>Global Compact

Since 2004, COSCO responded to the ten principles regarding social responsibilities put forward by Former United Nations Secretary General Kofi Atta Annan, namely Global Compact, became the pilot project of United Nations Global Compact in China and implemented the Global Compact in China. As a pioneer in performing of Global Compact, COSCO Group has taken actions actively to support new Secretary General Ban Ki-moon to inherit and innovative on the global initiative that pursues for fairness, justice and harmony, and has tried to fulfill the Millennium Development Goals and coped with the common challenges of the world. In the face of global financial crisis, COSCO actively fulfilled the requirements of Global Compact 2.0 and cooperated with challenges through successful cooperation. By attending the Global Compact's Blueprint for Corporate Sustainability Leadership program and becoming a member of the Steering Committee, it has actively fulfilled the United Nations Global Compact's Blueprint for Corporate Sustainability Leadership.

United Nations' targets are common targets of all people in the world. Global Compact is a way to realize such targets.
Global Compact's targets comply with the target of ― world harmony‖put forward by President Hu Jintao.
Global Compact can mobilize and activate the voluntariness, self-discipline and innovation of enterprises.
Global Compact is flexible and usable, and is the best tool for combination of globalization and localization.
Global Compact is a platform for enterprises to take part in global affairs, talk with the government and persons of all circles caring about development of enterprises, and for studying and exchanges between them. These are of significant importance for Chinese enterprises developing towards globalization.
Global Compact is the embryonic form of the first common management rule of the Borderless World in the future. Chinese enterprises shall learn to attend the formulation of global rules and regulations.

The main reason for why COSCO selects Global Compact is that the principles and spirits of Global Compact comply with the willingness of people in the world and is the basic direction of globalization.

COSCO Group organized comprehensive performance of Global Compact in accordance with the ten principles of United Nations Global Compact. Since the issuance of the COSCO Group Sustainability Report 2005, it has disclosed the fiscal, social, environmental and ethical performance and value-increase situations in implementation of Global Compact in accordance with GRI Framework. Later, it made continuous improvements on the report in accordance with United Nations Global Compact's guidelines on progress reports and United Nations Global Compact's management mode. COSCO Group's sustainable development report covers the operation mechanism as well as information communications and disclosure mechanism for an enterprise to establish the leadership and execution. It formulated sustainability strategies, established the sustainability operation system, and adopted sustainability actions that can support wider targets and affairs of United Nations. It also attended United Nations Global Compact and supported local network center of China. Its sustainability report was appraised COP notable reports for four years in succession and was rated A+ level, the highest GRI rating, for three years in succession.

COSCO Group believes that the ten principles of Global Compact lay new appraisal standards of modern society on sustainability of enterprise, and lead corporate management into a new sustainable era centering on comprehensive risk management. Implementing Global Compact aims at preventing and controlling risks, and realizing the ultimate goal of sustainability with comprehensive risk management as the main task and center and by applying risk management approach and skills in a comprehensive manner. Based on the policy platform established by COSCO Group through 10 years of basic work in Global Compact and cooperation with global partners, COSCO Group applied the sustainability framework provided by it and implemented Global Compact in a comprehensive manner by implementing the United Nations Global Compact Participation Guideline and the United Nations Global Compact Management Mode. Moreover, it also attended the UN Global Compact LEAD Program, a platform for implementation of the blueprint of sustainability leadership, by making use of the Blueprint for Corporate Sustainability Leadership released in June 2010, a sustainability leadership mode that can guide Global Compact to make greater achievements and create higher value, systematically evaluated the commitment, strategies and implementation situations, and facilitated effective communications by making use of the technical tools such as sustainability information management platform. Reports released by the group comply with the advanced project standards released by Global Compact in October 2010 and cover the standards included in the Blueprint, and enable COSCO Group and its stakeholders to contribute to sustainability of Global Compact in studying and progressing processes.Since July 2, 2008 when Capt. Wei Jiafu announced that COSCO Group will officially join the Declaration on Climate Change initiated by the United Nations, COSCO Group has actively fulfilled the principles and measures put forward in the Declaration to cope with climate changes. In 2010, it has been endeavored in reduction of greenhouse gas emissions. It has invested on researches of new vessel powers, i.e. wind power and solar energy, and has invested on sustainability, which is taken as the core impetus for growth. It has joined the UN Global Compact Project Team on Climate Change, partnered with companies in shipping industry on researches of technological applications, including carbon footprint calculation of supply chain and tracing of implementation situations of green passport.

COSCO Group has attended the national R&D project of the Ministry of Communications such as Real-time Monitoring Platform of Vessel Fuel Consumption and Application of Electronic Cylinder Lubricator, which were appraised as first batch of typical demo projects for energy conservation of water transport industry. The Application of Automatic Testing and Controlling Technology of Cargo Oil Heating and Application of Yapu Natural Gas in Shipbuilding and Ship-repairing Industries researched and developed by COSCO Group were appraised as second batch of typical demo projects for energy conservation of water transport industry.

Produced By 大汉网络 大汉版通发布系统