The 2005 financial year marks our sixth year in reporting on our stewardship of sustainable best practice. It is our fifth year in reporting under the Global Reporting Initiative (GRI) Guidelines2002 Sustainability Reporting Guidelines. In looking at this brief history of sustainability benchmarking, we recognise the many milestones and rewards achieved yet remain vigilant of the continued path to excellence we choose.
The Report examines the progressive steps taken in shaping our future as a competitive and socially responsible organisation and as industry's partner of choice. We focus on those areas which are directly affected being, our engagement processes, our operational efficiencies and our stewardship of organisation.
Our theme this year is engagement. Following on from our discussions in 2004 centred on the integrity of our internal processes and systems to support best practice, we now turn our attention to application of those processes which are about people, specifically, our stakeholders. The reporting process for 2005 as a result takes on a greater depth in measuring and validating our best practices as well as bringing to readers an understanding of the dynamics between stakeholder interests and our risk management strategy.
This year, we have further refined the integration of our printed report with our online web page, www.mtr.com.hk/sustainability. In addition to the supplemental information under application of the GRI Guidelines, we present a holistic view of our activities and our operating philosophy as a global leader in the transport and property development industries. We indicate where fuller discussions are found in other internal documents available online as well as give reference to external websites where information is relevant to our discussions. The online address is given at the bottom of the individual page.
The 2005 year marked the third year of the four-year assurance programme undertaken by PricewaterhouseCoopers Hong Kong. Their work focuses on the critical social responsibility, environment and economic contributions of the Corporation as identified by our priority risk management model. Their independent assurance report is in the Reporting section.
The reporting exercise serves the dual purpose of measuring our internal progress in achieving a corporate mindset in sustainability and in benchmarking our performance against our rail industry peers and other global organisations engaged in sustainable best practice. This past year has been an educational exercise in understanding the dynamics of broader stakeholder engagement and its effect on internal decision-making.
We welcome comments, contribution and questions on our reporting series. Feedback over the last five years has provided invaluable insight into how best to engage stakeholders in our reporting process and what information is most relevant to their interests. We encourage the continued dialogue with readers and the wider information exchange amongst interested groups about our journey towards sustainability. Contact the Sustainability Development Manager at sdmngr@mtr.com.hk for any questions or comments.
