Maritime and Coastguard Agency Annual Report and Accounts Safer Lives 2007-08 Safer Ships Cleaner Seas Incorporating our plans for 2008-09 and beyond HC617 Front cover image courtesy of Cunard 2 The Maritime and Coastguard Agency Annual Report and Accounts 2007-08 Incorporating our plans for 2008-09 and beyond Presented to the House of Commons pursuant to section 7 of the Government Resources and Accounts Act 2000 Ordered by the House of Commons to be printed on 14th July 2008 HC617 London: The Stationery Office £18.55 Our vision is to be a world-class organisation that is committed to preventing loss of life, continuously improving maritime safety, and protecting the marine environment: Safer Lives, Safer Ships, Cleaner Seas Our shared core values are: Mutual Respect and Customer Focus © Crown Copyright 2008 The text in this document (excluding the Royal Arms and other departmental or agency logos) may be reproduced free of charge in any format or medium providing it is reproduced accurately and not used in a misleading context. The material must be acknowledged as Crown copyright and the title of the document specified. Where we have identified any third party copyright material you will need to obtain permission from the copyright holders concerned. For any other use of this material please write to Office of Public Sector Information, Information Policy Team, Kew, Richmond, Surrey TW9 4DU or e-mail:
[email protected] 4 Annual Report and Accounts 2007-08 Contents 6 Chief Executive’s Foreword 34 Financial Review 8 Setting the Scene 35 Remuneration Report 12 Management Commentary 40 Accounts 17 Measuring our Performance 72 Annexes 21 Safer Lives 90 2008-09 Performance Targets 25 Safer Ships 31 Cleaner Seas 5 Chief Executive’s Foreword ‘Protecting our environment is important to so many people and shipping has the lowest carbon cost per mile of all transport modes, contributing 1.75% to world emissions.’ I am pleased to present the Annual Report and that remains true in our modern world.