This is the 11th consecutive Integrated Annual Report published by TITAN Cementara Kosjerić aligned with international and TITAN Group standards regarding the ESG performance (Environmental, Social and Governance).
TCK is among the first companies in Serbia to support the need for transparency and stakeholders dialogue on sustainability issues fully aligned with international and European standards and best practices. This is a practice we, as part of TITAN Group, have followed consistently since 2011, to enhance better alignment with stakeholders’ expectations and to support the implementation of our business strategy in the long term.
In 2020, the Company achieved good results, with 22% EBIDTA growth relative to the previous year and through consistent implementation of CSR Policy, we have demonstrated solidarity and provided selfless support to many within our community in need.
In all aspects of environmental impact, TCK’s performance is far below the legally prescribed limits.
The installation of a new bag filter on the kiln and raw mill improves the already existing high levels of environmental protection, guarantees low emissions in the current mode of operation and creates conditions for the safe use of alternative fuels in the future. Convinced of the contribution that the use of alternative fuels in cement industry provides to the environment, with this major and important environmental project, we have taken another significant step to reduce the use of fossil fuels and to increase, as planned, the use of energy from alternative sources.
TCK’s 2020 IAR complies with TITAN Group sustainability reporting standards and is compatible with the Guidelines of the International Integrated Reporting Council (IIRC), the UN Global Compact Communication on Progress for the Advanced Level, the approach of the Global Cement and Concrete Association (GCCA), and the UN SDGs 2030.
The Report has been verified by independent auditors from Grant Thornton Serbia, in accordance with the Advanced Level of Communication on Progress (COP) UN Global Compact. For the first time in the history of reporting, the Company also received verification for the realized process of Materiality Assessment during 2020.
Please download the full TITAN Cementara Kosjerić 2020 Integrated Report here.
For more information about integrated reporting, please see the web site of the International Integrated Reporting Council (IIRC): www.integratedreporting.org.