With the same long-term focus on social responsibility, COSCO and China Shipping have respectively established a management system and long-term mechanism for fulfilling the Global Compact and their social responsibilities. In its New Century Development Strategy initiated in 2000, COSCO explicitly brought up the mission of “maintaining an honest and trustful relationship with the customers, employees and partners, and maximizing the returns to the shareholders, society and environment.” During the many years of management and operation after its foundation, China COSCO Shipping has established multilayer and multidirectional communication channels with its customers, employees, communities and other stakeholders based on their influence on the Group’s sustainable development, and developed a dialogue mechanism featuring mutual trust and mutual commitment to guide its social responsibility management. In this process, the two companies have also made some positive achievements:
In 2014, COSCO formally joined the United Nations Global Compact (UNGC), the world’s largest international organization of social responsibility. The Group has been actively fulfilling the principles and requirements on human rights, labor, environmental protection, anti-corruption, etc. proposed by the United Nations and making endeavors to achieve sustainable development. Ever since 2006, COSCO has been publishing the annual sustainable development reports, which has been rated GRI A+ for eight consecutive years. COSCO has become the only business in Asia that has made the UNGC Sample Report List for nine years in a row.
From 2011, China Shipping has released its CSR reports for four consecutive years. Its reports in 2011 and 2014 respectively won the “Golden Bee 2012 Excellent CSR Reports - Leading Enterprise Award” and “Golden Bee 2015 Excellent CSR Reports - Leading Enterprise Award”. The case “Fulfilling Environmental Responsibility and Promoting Green Development” in its 2012 report was selected by SASAC as one of the “Excellent CSR Practices of Central SOEs 2013”.
Looking forward, China COSCO Shipping shall carry forward the sustainable development concept of COSCO and China Shipping, continue to play a leading role as a central SOE, and unswervingly implement the “green development” requirement brought forward in the Fifth Plenary Session of the 18th CPC Central Committee. It shall deem the performance of social responsibilities as the basis of corporate values and culture, gain trust and support from its stakeholders including customers, employees and communities, pull together to make the shipping SOE bigger, stronger and better, and ultimately achieve sustainable development in a green and stable way.