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SOCIAL RESPONSIBILITY and SUSTAINABLE DEVELOPMENT REPORT 2008-2009 VKG – the Biggest Estonian Manufacturer of Shale Oils and Chemicals

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SOCIAL RESPONSIBILITY and SUSTAINABLE DEVELOPMENT REPORT 2008-2009 VKG – the Biggest Estonian Manufacturer of Shale Oils and Chemicals VIRU KEEMIA GRUPP JSC SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT REPORT 2008-2009 VKG – The Biggest Estonian Manufacturer of Shale Oils and Chemicals Viru Keemia Grupp, established KEY EVENTS, 2008-2009 VKG obtained a research and mining license The year 2009 was difficult for the enterprise in 1999, belongs to the biggest chemical for 350 mln tons of oil shale in Boltyski comparing to previous years: many enterprises in Estonia producing and deposit in Ukraine. investments have been postponed, such as construction of a cement plant and a new marketing shale oils. May, 2008 – the first sulphur recovery unit at turbine generator set. But due to this fact VKG Energia started its operation. Its price the construction of Ojamaa mine could start amounted to appr. 150 mln kroons. and the new oil shale processing plant could be inaugurated. The present sustainable development December, 2009 – construction of a new oil shale processing plant was completed. report has been published for the first time This plant will increase the enterprise`s performance by 40 % in 2010. in the history of the enterprise. Construction of a slant shaft has been We would like to bring into focus the started at Ojamaa mine. importance of environment protection and regional development in the activity Thous. kroons 2006 2007 2008 2009* 2010 forecasT of our enterprise. sales revenue 1 503 614 1 787 066 2 057 776 1 667 275 2 000 000 commercial profit 307 308 330 821 295 830 188 447 360 000 net profit 299 027 293 924 230 625 120 676 300 000 * Non-audited data 3 SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT REPORT 2008-2009 sales revenue by services, 2009 During these last seven years Viru Keemia Grupp has spent over 900 mln kroons invested in environment protection and operational safety, as well as appr. 3 bln kroons directed into its development activity. sales revenue by producTs, 2009 The mosT inTensive invesTmenTs inTo environmenT proTecTion 2007 – construction of a semicoke deposit area. May, 2008 – purchase of a sulphur recovery unit; as a result hereof minimum 65 % of invesTmenTs in developmenT acTiviTy, sulphur are bound in burned fuel. environmenT proTecTion and operaTional safeTy 2008 – creation of shale oil filtration system which turns fuel oil production air-tight and environment-friendly. 5 SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT REPORT 2008-2009 Content 3 vkG - The biGGesT esTonian 42 VKG ENErGIa OÜ 78 CONflICT Of INTErESTS manufacTurer of shale oils and chemicals 43 VKG TraNSpOrT JSC 78 COUNCIl. COMpOSITION, DUTIES aND payMENT 7 conTenT 44 VKG ElEKTrIVõrGUD OÜ 78 COOpEraTION Of THE BOarD aND 45 VKG ElEKTrIEHITUS JSC 9 abbreviaTions THE COUNCIl 47 2008 – 2009 KEy EVENTS 79 fINaNCIal rEpOrTING aND aUDIT 11 inTroducTion 50 EVOlUTION Of THE CONCErN 80 rISK MaNaGEMENT 53 GOalS Of THE ENTErprISE fOr 15 social environmenT THE pErIOD 2010-2011 85 environmenT proTecTion 15 SUppOrT Of rEGIONal DEVElOpMENT 54 prODUCTS aND SErVICES Of THE 85 GENEral ENVIrONMENTal pOlICy ENTErprISE 21 The enTerprise and iTs employees 87 ENVIrONMENT MaNaGEMENT SySTEM 59 ECONOMIC pErfOrMaNCES 25 lIfE-Long TraINING 88 STraTEGIC VISION Of THE fUTUrE ON 63 DEVElOpMENT aCTIVITy Of VKG MINIMIzaTION Of INDUSTrIal IMpaCT 27 VKG INITIaTIVES TO SUppOrT ITS 67 rECOGNITION Of VKG EMplOyEES 88 prOCESS WaSTE 31 OCCUpaTIONal SafETy aND HEalTH 90 EMISSIONS CarE SErVICE 69 secTor Trends in esTonia and worldwide 93 rESOUrCE USE 35 overview of The enTerprise 69 GlOBal TrENDS 96 Gri summary 36 BUSINESS pHIlOSOpHy 71 ESTONIaN TrENDS 37 MEMBErS Of THE BOarD Of VIrU KEEMIa GrUpp JSC 75 Good pracTice of manaGemenT of a commercial company 38 VIrU KEEMIa GrUpp JSC 75 SHarES aND EqUITy CapITal 39 VKG OIl JSC 77 GENEral aSSEMBly. 40 VKG KaEVaNDUSED OÜ ExErSICE Of rIGHTS Of SHarEHOlDErS 41 VIrU rMT OÜ 77 BOarD. COMpOSITION, DUTIES aND payMENT Abbreviations VKG viru keemia Grupp Mln Kr millions kroons roa reTurn on asseTs roE reTurn on equiTy thous Kr Thousands kroons GrI Global reporTinG iniTiaTive hPs heaT power sTaTion 9 SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT REPORT 2008-2009 Introduction supporTinG susTainable reporTinG period of objecTives of reporTinG on developmenT susTainable developmenT susTainable developmenT facing deficiency of resources and One of the biggest employers in the Ida-Viru The present report on sustainable Through the present report Viru Keemia onrush of technology, the conception County, Viru Keemia Grupp is along with development has been delivered for the first Grupp wishes to present and develop the of a sustainable and counterbalanced the development of the enterprise focused time in the history of the enterprise. conception of sustainable development in development of the enterprise has become on progress of the social environment. Our the Ida- Viru County. a very topical problem. Interest towards the people are our greatest value, that is why This report on 2010 sustainable enterprise`s activity of the part of clients, last chapters of the present report cover development reflects first of all the The report aims to: investors and local residents does not activities devoted to both employees of VKG development made by the enterprise within limit itself just to knowledge of economic and residents of the Ida-Viru County. In spite two last years (2008–2009) and considering ► Make the organization`s activity indexes, but ever more often their wish is of the economic depression, VKG has always the fact the present report to be the first more transparent with the presentation to learn the enterprise`s activity more in been consistent in the field of investments one, comparisons with previous periods will of 2008–2009 economic, social and details. and industrial development. The emphasis be made, if necessary. environmental activities. of such a consistency is one of the key ► Describe ideas and activities of Viru Viru Keemia Grupp is one of the biggest stones of the present report. The next report on sustainable development Keemia Grupp for the nearest future. enterprises of chemical industry in Estonia, covering the years 2010-2011 will appear in the Baltic states and neighbour regions, 2012. ► Create confidence between people therefore prudent use of resources and interested in the enterprise`s activity, local environmental protection are now points of residents and employees of Viru Keemia great importance. The pages below reflect Grupp. activities of last years related to support sustainable development and ensure environmental security, and readers are given a review of future aspirations and operational program of Viru Keemia Grupp. 11 SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT REPORT 2008-2009 sTrucTure and meThod of The an additional basis for making this TarGeT Groups resTricTions relaTed To The reporT report was the guidance material „Oil reporT and Gas Industry Guidance on Voluntary The report on sustainable development 2010 The basis of the report on sustainable Sustainability reporting“, worked out by Viru Keemia Grupp is a public document Drawing up a sustainable development development issued in 2010 are the guide by the International petroleum Industry available both on paper and electronically report is voluntary to organizations. Data materials of Global reporting Initiative Environmental Conservation association on the concern`s webpage in Estonian, reflected in the report have not been – GrI. GrI is an organization promoting (IpIECa) in cooperation with the american English and russian languages. Our first additionally checked by independent With this report Viru Keemia Grupp voluntary reporting, which consolidates petroleum Institute (apI). wish has been to present our enterprise parties, excluding the cases stated in the enterprises all over the world paying more in details: law. wishes to present and promote high tribute to sustainable development. The report on sustainable development is The organization is considered to be the subdivided into six chapters: ► To strategic investors to enable them The 2009 economic survey and the 2010 the development of sustainability founder of the conception of sustainable making informed investment decisions; forecasts have been prepared by Viru development, and advisable instructions 1. SOCIal ENVIrONMENT Keemia Grupp and were not subject to an ► To introduce to residents of the Ida- concept in Ida-Viru County. have been worked out. More details about audit. So, the 2009 data can differ a bit from 2. ENTErprISE aND ITS EMplOyEES Viru County the regional development the organization and instructions at: the statement confirmed and reflected in throughout last years and prospects for www.globalreporting.org. 3. rEVIEW Of THE ENTErprISE the financial annual report. future; 4. SECTOr TrENDS IN ESTONIa aND ► To clarify more closely to the employees The structure of the report by Viru Keemia WOrlDWIDE When reflecting data in the report, the Grupp on 2010 sustainable development is of Viru Keemia Grupp modifications made in enterprise relies upon the transparency based on the C-level of GrI G3 Guidelines 5. GOOD MaNNEr Of GOVErNaNCE Of a organization and activities. principle and good commercial practice. what presupposes reflecting of following COMMErCIal SOCIETy aspects at least: 6. ENVIrONMENT prOTECTION ► Short description of the enterprise with its most important economic indices. When drawing up the report, ISO and OHSaS sertification materials of the enterprise ► Modifications in the enterprise`s activity have been used. Data of environmental and and governance. labour
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