COSCO has released its first verified Annual Sustainable Development Report under the United Nations' Global Compact initiative.

“The release of the report means that COSCO can be listed among the top-grade enterprises in the world,” said President Capt Wei Jiafu.

“I made a promise on implementation of Global Compact to UN Secretary General Kofi Annan. After two years of efforts, COSCO established its Global Compact Social Responsibilities Management System and issued the sustainable development report,” said COSCO President Capt Wei Jiafu.

As the first Chinese enterprise to implement the Global Compact principles, COSCO is also the first state-owned company that compiled such a report in line with requirements of the Global Reporting Initiative. COSCO is the first enterprise in Asia that applied the DNV verification protocol for sustainability reporting.

Date: 2007-06-08