1. Key Report Highlights
Samsung Engineering is one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies. Its business area includes hydrocarbon projects, (refinery, gas and petrochemicals) and non-hydrocarbon projects (metallurgy, water treatment, industrial and power plants). With a solid project track record spanning over four decades, the company has built a reputation for delivering some of the world’s most complex plants and facilities on time and safely. As a result, Samsung Engineering has been recording a remarkable annual growth rate of more than 30% for new orders and sales every year. As one of the fastest growing EPC contractors, Samsung Engineering understands its importance as a globally operating corporate entity. The 2011 Sustainability Report is the first for Samsung Engineering and was meticulously written in accordance with the Global Reporting Initiative (GRI) G3.1 guidelines to present economic, environmental, and social values and achievements more effectively to stakeholders. The GRI table is also provided so that stakeholders can easily access information needed. In addition, a stakeholder survey, and materiality test were executed to generate key issues and facilitate communication which enabled us to consider their needs and interests in the report. The reporting period was set from January through December 2011, while the data of the two most recent fiscal years (from January 2010 through December 2011) were utilized for comparability. Some significant and relevant data up to April 2012 is included in this report. The report has intended to contain all aspects of Samsung Engineering’s domestic and overseas business handlings, but in cases where data collection was not possible, the specific scope of the data was stated. To ensure the objectivity and transparency of the content, a third party without vested interests in the company has audited the report.
2. Category Strength (Best First Time Report)
Samsung Engineering’s first sustainability report is a significant milestone towards socially, economically, and environmentally responsible business. Through the process of developing the report, the company was able to determine the needs and wants of stakeholders. Then, the known stakeholder interests evolved into corporate values and principles, and ultimately the goals of the organization. Samsung Engineering’s first corporate responsibility report aims to communicate its corporate values and goals, as well as its efforts towards continuous sustainability. Stakeholder-oriented reporting helped deliver the content of the report clearly and the application of the global guideline, GRI G3.1, improved the readability and understandability of the report.
Furthermore, the report performs as a guideline for the company to become a more responsible and sustainable organization. We believe that it has impacted the organization as a whole through this report as employees consider sustainability when conducting business activities and management considers the impact of their decisions with the mission and values of the company. It has initiated an enterprise-wide movement aimed to fulfill the three directions: transparent and responsible growth, respect for human and the environment and accompanying with partners. Samsung Engineering’s first sustainability report is a superb communication tool for our valued stakeholders as we make efforts to be the most sustainable and transparent company worldwide.
Key Report Highlights are provided as supplemental information by the reporting organisation. Content and accuracy have not been verified by Corporate Register.