Greece's Piraeus port presents Corporate Responsibility Report 2018

Piraeus Port Authority S.A (PPA S.A.) presented on Monday its Corporate Responsibility Report 2018 at the company's headquarters here.

The report outlines the responsible actions and policies PPA has implemented, as well as their positive impact on the wider 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 PPA's press release.

Piraeus is Greece's largest port. China COSCO Shipping acquired the majority of PPA S.A.'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 PCT S.A., which has managed the port's container terminal since 2009.

The financial added value of PPA S.A. corresponds to 0.4 percent of Greece's gross domestic product (GDP), according to the report, which is based on the company's data, international models and statistical sources.

In 2018, PPA S.A. paid 18.3 million euros (20.86 million U.S. dollars) in taxes and 14.3 million euros in income taxes.

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

According to the report, PPA S.A.'s operations have created 1,016 direct jobs, 1,903 indirect jobs and 1,190 induced jobs. Over 4.2 million euros were invested to ensure the health and safety of employees.

At least 1.8 million euros were 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.

"PPA S.A. 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 PPA S.A., said, according to the statement. (1 euro = 1.14 U.S. dollars)