Why we report ĦE The MTR Corporation produces its annual sustainability report to support and supplement our yearly financial reporting exercise and other corporate presentations through the in-depth discussion of our performance in the social, economic and environmental stewardship of the Corporation. The purpose is to augment the business case, provide a snapshot of our sustainability management in action and to provide comparable trends in our performance for our readers. Through our frank discussions, we hope to engender trust amongst stakeholders especially those concerned with socially responsible business and investment practices and to demonstrate our commitment to the long-term sustainability of the Corporation.
This year our reporting process aligns with the Global Reporting Initiative (GRI) - 2002 Sustainability Reporting Guidelines and the World Economic Forum Framework for Corporate Citizenship Initiative. The performance indicators captured under these series form a standardised basis for measuring and benchmarking our performance over time and allows for comparability for our readers in terms of industry and global corporate performance.
Reporting scope ĦE The scope of this Report covers the 2005 economic, social and environmental performance data of the MTR Corporation in Hong Kong. Data presented for our activities outside of Hong Kong is specified in the Report where applicable.
Financial data reporting ĦE The financial and economic contribution data covered in this Report includes the accounts of MTRCL and all its subsidiaries except Octopus Cards Limited and Octopus Rewards Limited, non-controlled subsidiaries of the Corporation. The data is prepared according to and aligns with the accounting policies of the Corporation's financial statements.
Non-financial data ĦE The environmental and social responsibility data is mainly generated through various internal systems within the seven divisions of the Corporation and collected by the Sustainability Development Manager's office. Information was also collected from business partners, independent bodies and other organisations in order to provide readers with a relative comparability on the Corporation's performance. The sources of external information are specified throughout the Report.
Although we are in general confident in the integrity of the non-financial data used in the Report, we acknowledge that in the measurement, calculation and estimation of some of the environmental and social responsibility data there are limitations that cause a degree of uncertainty in relation to the data reported. These include different interpretations of the reporting guidelines, such as those used for greenhouse gases and sustainability accounting; inaccuracies in data resulting from the calculation and analysis methods used, accuracy and sampling by environmental measuring equipment; and data sourced from external entities and/or business partners where the Corporation has no controlling interest in projects or contracts.
Target setting ĦE Generally, corporate targets are set through discussions with senior executives and directors based on past performance and measured expectations. Divisional targets are set through discussions within individual divisions in consensus with the Executive Committee and are based on the principle of continual improvement.
Assurance principles and scope ĦE We requested that PricewaterhouseCoopers provide assurance over key performance data in accordance with internationally recognised standards on the assurance of non-financial information.
