2008 was full of challenges and lessons-to-be-learned for us all. From the fall of some of the world’s most prestigious organisations and the global financial tsunami, it has been an eventful year. They have all served to remind us of the importance of business accountability, the necessity for internal controls, the dangers of taking near-sighted risks, as well as the responsibilities of a business in helping to build a resilient community. They provide short and very sharp lessons for every one of us, making us reflect on exactly what corporate governance, responsibility and sustainability mean, not only for businesses, but also for individuals and society as a whole.
As a company with a long history, established brand image and vibrant business development, we believe it is vital for Towngas to be vigilant and responsible, with sustainability forming the cornerstone of our business strategy. This is especially important as we expand our market presence into mainland China and the region. Gas safety, gas reliability and climate change remain our key sustainability challenges in view of the nature of our business. However, issues such as the environmental impact of our operations and development projects, our human capital requirements, supply chain management and community welfare initiatives, must also be taken into consideration as they all affect our risk management, long term competitiveness, as well as our business environment. Demonstrating the success of our efforts in this direction, we were particularly pleased to receive the best of the best award in the Total Caring Company Award presented by the Hong Kong Council of Social Service. Winning this award provides welcome community recognition of our outstanding performance as a socially responsible and environmentally friendly company as well as an excellent employer.
In 2008, we took several significant steps forward. We completed the first carbon audit for our Hong Kong operations, opened new upstream gas facilities on the Mainland, and began our diversification into more eco-friendly and coal-based energy activities. In promoting gas safety, on top of implementing rigorous safety management systems in all our companies, we worked with other mainland gas utilities to assure the quality of gas pipes. We believe these initiatives are taking us in the right direction as we fulfill Towngas’ sustainability responsibilities as a leading and evolving gas conglomerate in the region. We also continue to strengthen our community investment, human resources development and supply chain management – you will be able to find out more about our many achievements and challenges in this Report.
The global events in the past year have made everyone of us revisit our vision for long term sustainability. At Towngas, we believe that corporate responsibility and robust governance provide the only possible route to long term success. We will therefore continue our journey in this direction and welcome any views and suggestions you may have, to help us along this journey.
Alfred W K Chan
Managing Director
