MTR Corporation produces its annual sustainability report to support and supplement our yearly financial reporting exercise and other corporate reporting initiatives 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 sustainable development in action and to provide for our readers comparability with peer companies reporting on sustainability. Our purpose is to engender trust among stakeholders, especially those concerned with socially responsible business and investment practices and to demonstrate our working 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. We have also introduced a six-year mapping exercise of performance based upon the principles of sustainable development under the directive BS8900:2006 Guidance for Managing Sustainable Development. The indicators captured in these series form a standardised basis for measuring and benchmarking the Corporation's performance over time and allow for comparability for our readers in terms of industry and global corporate performance.

 

Reporting Scope

The scope of this Report covers the 2006 economic, social and environmental performance data of MTR Corporation. Data presented for activities outside the Hong Kong market is specified in the Report where applicable.

 

Financial Data Reporting
The financial and economic contribution data covered in this Report includes the accounts of MTRCL and all its subsidiaries except Octopus Holdings Limited, a non-controlled subsidiary of the Corporation. The data is prepared according to and aligns with the accounting policies of the Corporation's financial statements. <

 

Non-financial Data

The environmental and social responsibility data is aggregated from the seven divisions within the Corporation, our business partners and where applicable from independent bodies or organisations that provide readers with relative comparability on performance. The external sources of data are specified accordingly throughout the Report where applicable and verifiable. Although we are in principle confident of 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

In practice, 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.