OLP’s notable corporate responsibility report

OLP’s notable corporate responsibility report

Piraeus Port Authority (OLP) on Monday presented its Corporate Responsibility Report 2018 at the company’s headquarters.

The report outlines the responsible actions and policies PPA has implemented, as well as their positive impact on society, the environment, and the local and national economy.

It was presented in the presence of Deputy Minister of Economy and Development Stergios Pitsiorlas and other Greek officials, according to OLP’s press release.

Piraeus is Greece’s largest port.

China Cosco Shipping acquired the majority of OLP’s shares in 2016 after an international tender.

In the past three years, the company has posted remarkable financial results, similarly to the Chinese company’s subsidiary Piraeus Container Terminal SA (PCT), which has managed the port’s container terminal since 2009.

The financial added value of OLP corresponds to 0.4 percent of Greece’s gross domestic product, according to the report, which is based on the company’s data, international models and statistical sources.

In 2018, OLP paid 18.3 million euros in taxes and 14.3 million euros in income taxes.

An estimated total of 49 million euros was paid to 1,272 local and national suppliers, and 426,000 euros was invested in corporate responsibility initiatives.

According to the report, OLP’s operations have created 1,016 direct jobs, 1,903 indirect jobs and 1,190 induced jobs.

Over 4.2 million euros was spent on ensuring the health and safety of employees.

At least 1.8 million euros was invested in services aiming to protect the natural environment and reduce greenhouse gas emissions by 11 percent through the installation of a photovoltaic system, which corresponds to a reduction of 600 tons of CO2.

“OLP is fully aware of its responsibility in social, cultural and environmental matters and through its operations and business decisions [it] respects, protects and promotes the concept of corporate responsibility,” Captain Fu Chengqiu, CEO of OLP, said, according to the statement.


Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.