The simultaneous launch of Sinosteel's Corporation Sustainability Australia Report in Beijing and Perth marks a major first for a Chinese enterprise involved in business activities in a developed country. [China Daily]
Sinosteel, China's largest State-owned steel trader, launched its Sinosteel Corporation Sustainability Australia Report simultaneously in Beijing and in Perth in Australia on Jan 29. This is the first of its kind involving a Chinese company in a developed country. It was also the second time Sinosteel presented an overseas sustainability report.Sinosteel Corporation Sustainability Africa Report was the first published by Sinosteel in 2008. The company subsequently published four sustainability reports, showcasing its social responsibility code across a range of practices and focus.
Addressing at the launch ceremony, Wang Wenjun, vice general manager of Sinosteel, said: "The Australia report is our fourth sustainability report over the last two years. It offers an overall introduction to Sinosteel's fulfillment of its social responsibility program while exploring business opportunities in Australia over the last 20 years.
"Sinosteel remains dedicated to promoting the prosperity and development of the global economy and the harmonious progress of society, and therefore shares the benefits accordingly with Australian citizens."
The Australia report acts as an introduction to the corporation's operational structure in Australia and its concept of sustainable development, involving participation of stakeholders, economic development, environment protection, safety and health, employees, community, aboriginal rights and cultural preservation. This is in line with Sinosteel's policy of sound and fast development, combining economic benefits with social responsibility in the country.
Wang Xiaoguang, director of the Beijing Rong Zhi Institute of Corporate Social Responsibility, said: "As the report is the first time regarding a developed country for Sinosteel, we ensured transparent process and thorough preparation."
Initiated in June 2009, a report taskforce visited Australia for practical communication and first hand experience, which resulted in a considerable amount of qualitative data, laying a solid foundation for the final document.
A large number of groups were involved in compiling the report. The engagement of stakeholders section covers government, media, staff, NGOs, community, clients, shareholders, business partners and suppliers. They all maintained good communication with the taskforce, which turned out to be a major boost for the scientific principles, appropriateness and consistency of the report, in line with the international criteria and established practices of Sinosteel in Australia.
The launch of the report was highly promoted and has secured support from the CSR research institute, the Sino-Australian research institute, several; Australian organizations in China, the Australian government, the Assets Supervision and Administration Commission of the State Council, as well as other communities and media.
The Western Australian Premier Colin Barnett MLA said in a letter to Sinosteel President Huang Tianwen: "On behalf of the people of Western Australia, I am extremely pleased to welcome and support Sinosteel Corporation's 2009 Sustainability Report on Australia. Sinosteel has the support of the Western Australian Government in its efforts to achieve its aims."
With the globalization of the world's economy, the fulfillment of social responsibility has become, by worldwide consensus, one of the crucial factors in evaluating the international performance of any company. Sinosteel is one among the many companies now attaching great focus on the integration of both economic aims and social sustainable development.
Early in the 1980s, Sinosteel initiated its overseas expansion, which involved international economic trade cooperation, as an active response to the nation's call of "going global".
As a large State-owned group devoted to providing comprehensive auxiliary services and integrated services for the steel industry and steel mills, Sinosteel has established a worldwide operating system based on both its domestic and global perspectives.
As part of this process, Sinosteel, as a responsible Chinese company, has managed to maintain a positive combination of international development and fulfillment of its social responsibilities, whilst adhering to a philosophy of "cooperation, friendship, win-win and development" and working cooperatively with openness, friendliness, equality and the pursuit of mutual benefits.
Based on its performance over recent years, the company has worked closely with regional communities and has succeeded in winning respect and trust from both local and international communities.
As to its business interests in Australia, Sinosteel's subsidiary companies have now been operating successfully there for over 20 years. It has been dedicated to meeting its social responsibilities, pursuing sustainable development and sharing the benefits of economic development with the Australians.
In term of its CSR in overseas market, Sinosteel has become a model among China's centrally managed enterprises. In 2009, it was singled out for its "excellent social responsibility practice as a central enterprise" in a series of case studies.
Last year, Sinosteel also introduced its social responsibility practice overseas through a video at a conference held by the State-owned Assets Supervision and Administration Commission of the State Council, setting a good example for other SOEs.
Sinosteel has won awards Corporation Sustainability Australia Report (2008 and 2009) for its outstanding demonstration of responsibility, according to the China News Service.
