MYTILINEOS HOLDINGS - SUSTAINABILITY REPORT 2012 - page 17

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S U S TA I NAB I L I T Y R E PORT 2 0 1 2
Energy is a key raw material for the ac-
tivities of MYTILINEOS Group and is al-
so expected to become a significant
source of income in the near future. In
addition, our activities extend to the
broader energy sector, through the
construction of turn-key energy proj-
ects (EPC). According to a view that is
rapidly gaining ground, the con-
sumption of the energy produced by
mineral fuels is one of the key factors
that contribute to global warming. An
increasing number of Governments or
State bodies and committees have al-
ready introduced or intend to intro-
duce legislative and regulatory changes
in response to the potential risks as-
sociated with global warming.
The Group’s operating margins might
be affected by changes which may be
made to production facilities of the
Group with high greenhouse gas
emission levels and to Group facilities
with increased requirements in ener-
gy, as a result of new regulatory
arrangements primarily in the EU,
where the Group is active. The po-
tential impact of the future legislation
and of the regulatory framework on
climate change, as well as of the Eu-
ropean and international conventions
and agreements, cannot be estimat-
ed with any certainty, given the wide-
ranging purposes of these potential
changes. In the future, our Group may
be forced to make substantial invest-
ments, due to the requirement for
compliance with the amended legis-
lation and the new arrangements. Fi-
nally, as its management of CO
2
emis-
sion rights may post negative (deficit)
or positive (surplus) results, and as a
consequence of its high energy con-
sumption (due primarily to the
Aluminium production process), the
Group in the future may have to
recognise significant expenditures or
revenues, respectively.
3.6 Collaborations with
social partners and
institutions
The application of Responsible Entre-
preneurship in practice relies on the
collaboration with social partners and
institutions, in order to jointly work out
and promote solutions to important is-
sues of concern at national level. To
this end, MYTILINEOS Group is devel-
oping initiatives and is participating as
an active member in voluntary Greek
and international organisations, seek-
ing to promote CSR and the principles
of Sustainable Development, to ex-
change views on CSR-related issues, to
improve its social and environmental
contribution and to develop respon-
sible practices in the broader business
community.
The Group participates in, endorses or
supports voluntary initiatives, such as:
The UN Global Compact, which the
Group has joined and co-signed
since 2008.
The Global Reporting Initiative (GRI)
international organisation, whose re-
porting guidelines on the compila-
tion of its Sustainability Reports it
has adopted and applies since 2008.
The annual Environmental, Social
and Governance (ESG) Survey of the
Bloomberg international financial
data service, in which the Group par-
ticipated for the first time in 2012.
The Hellenic Network for Corporate
Social Responsibility, in whose work-
ing groups and initiatives, aimed at
promoting Corporate Social Re-
sponsibility, it participates since
2006.
The Hellenic Federation of Enter-
prises (SEV), in whose “Council for
Sustainable Development” the
Group has participated and whose
Code of Principles it adopts.
The international standards on Qual-
ity (ISO 9001), Environmental Man-
agement (ISO 14001) and Occupa-
tional Health & Safety (OHSAS
3.5 Impact of Climate Change on business activity
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