CORPORATE SOCIAL RESPONSABILITY REPPORT. Grupo Soares da Costa, SGPS, SA

2012 CORPORATE SOCIAL RESPONSABILITY REPPORT Grupo Soares da Costa, SGPS, SA. 83 REPORT & ACCOUNTS 2012 | GRUPO SOARES DA COSTA, SGPS, SA Lisbon i...
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2012 CORPORATE SOCIAL RESPONSABILITY REPPORT Grupo Soares da Costa, SGPS, SA.

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REPORT & ACCOUNTS 2012 | GRUPO SOARES DA COSTA, SGPS, SA

Lisbon internet site. The company fully complies with the legal framework regarding information release (annual report and accounts, notices, interest payment press releases, etc.) and general meeting of shareholders’ related information.

available in Portuguese and English.

The company’s official interne site, www.soaresdacosta.pt, has information specifically directed to investors (“Investors” submenu) namely financial figures quarterly updated, general meetings’ notices, general meetings’ deliberations, information on bond issues, dividend and interest payments, bylaws, management reports and accounts and material information releases.

III.17 Indication of the annual compensation paid to the auditor and to other individuals or groups that belong to the same network supported by the company and/or by any group that bears with it a control or group relationship and the percentage of the total amount paid for the following services: a) Statutory account review services; b) Other audit reliability services; c) Tax consulting services; d) Other non-statutory auditing services The company’s external auditor is BDO & Associados, SROC, number 29 in the Chartered Accountants Professional Association and number 1122 in the CMVM’s auditors’ registration, represented by Paulo Jorge de Sousa Ferreira (Chartered Accountant number 781). In 2012, these audit services provided to the company (and other related entities, in which the company has a controlling participation) amounted to 100,000 Euros.

During 2012, the market relations representative continued to be the Group’s secretary-general, António Manuel Sousa Barbosa da Frada, supported by the investor relations office. The representative to the market relations contacts are: antónio.frada@ soaresdacosta.pt. Information requests should be preferably sent to the investor relations officer: Rita Carles, [email protected], telephone + 351 21 791 3236 or + 351 22 834 2217. The investor relations office provides information on the share price historic performance, general meetings’ attendance (direct or be representative), necessary documents to the general meetings, dividend payments, bonds coupons and redemptions, annual reports and accounts, half year and quarterly financial accounts and material information releases. Although all this information is available on www.soaresdacosta.pt, by request, this can also be sent by mail or e-mail. The investor relations office requires the applicant’s identification and, eventually, the purpose of the information request. All the information is

.5 5.1

The contact for the media is the Communication department: dcomunicaçã[email protected], telephone +351 22 834 2217.

The board of directors states that, prior to sign up any service to the company’s external auditor, makes sure that this will not put their independence at risk (as defined in CMVM’s recommendation number C (202) 1873 of May 16, 2004). III.18 Reference to the external auditor’s rotation period The current external auditor initiated functions in 2005.

CORPORATE RESPONSIBILITY REPORT INTRODUCTORY NOTE The Soares da Costa Group’s Sustainability Report consists of a set of annual information provided by the company and all of its stakeholders, and it is an attachment to the Report & Accounts 2012. For a better understanding of the information contained in this report, it should be interpreted in the context of the scope of the document. Given the wide ranging nature of the activities of the Group

and the differing levels of maturity of the information reported, different reporting scopes were used. These are explained along with the referred indicators and, where possible, compared with the turnover of the companies and / or projects that contribute to them. Contact for further information: [email protected]

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5.2

KEY PERFORMANCE INDICATORS In this chapter, the Soares da Costa Group presents a number of key indicators that are relevant to stakeholders, in relation to its economic, social and environ-

mental performance. In each of the following chapters, these indicators and the actions and initiatives which give rise to them are analysed in greater detail.

Economic Indicators 1

2012

2011

Variation

Turnover (million Euros)

802.0

873.5

-8.19%

EBITDA (million Euros)

72.0

94.1

-23.49%

Operating Profits (million Euros)

10.9

58.9

-81.49%

Net Earnings (million Euros)

-46.9

2.4

-2,054.17%

Net Financial Charges (million Euros)

-69.0

-51.8

33.20%

1,024.2

863.0

18.68%

2012

2011

Variation

4,510

5,849

-28.29%

10.4

9.7

7.22%

5.6

8.6

-34.88%

Work Accidents - Frequency Index (work accidents per million hours worked)

24.1

25.0

-3.60%

Donations and Sponsorships (thousand Euros)

186

746

-75.09%

2012

2011

Variation

Energy Consumption (GJ/million Euros)

376.7

327.3

15.09%

Water Consumption (m³/ million Euros)

281.6

360.9

-21.97%

Waste Generation (ton/ million Euros)

62.6

243.5

-74.29%

Air Emissions (tonnes CO2/million Euros)

57.2

51.1

11.94%

3,876

2,239.1

73.09%

Net Debt (million Euros)

Social Indicators

2

Employees (number) Female Employees (percentage) Training Hours per Employee (hours)

Environmental Indicators

3

Investment in Environmental Management (Euros/ million Euros) Notes: 1

The reporting scope of these indicators is Grupo Soares da Costa, S.G.P.S., S.A., on a consolidated basis. The reporting scope on the number of employees and value of donations is Grupo Soares da Costa, S.G.P.S., S.A. on a consolidated basis. Other indicators are referred to employees with contract in Portugal, including the ones that are working in other geographies (such as expatriates). More information about the characterization of the human resources is available in the “Social Responsibility” chapter. 3 The reporting scope of these indicators is Grupo Soares da Costa, S.G.P.S., S.A., including ongoing projects, fixed units (offices, shipyards and central support unit in Madeira island), fleet and travels (air and rail) in Portugal, excluding ACE’s. It is not shown the value of energy consumption for 2010 as only from 2011 it was possible to differentiate the consumption of Soares da Costa subcontractors hired. The inclusion of this value (including subcontractors’s consumption) would lead to an incorrect evolutionary reading. More information about the environmental performance is available in the “Environmental Responsibility” chapter. 2

REPORT & ACCOUNTS 2012 | GRUPO SOARES DA COSTA, SGPS, SA

5.3

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2012 IN BRIEF 1st quarter

> Launch of the Soares da Costa’s Prize Talent - 3rd edition > Launch of Soares da Costa’s 2012 Golf School (Porto and Lisbon) > Soares da Costa’s projects in Angola distinguished by CNBC Business Magazine > Dental screening initiative sponsored by Smile Up Clinic > Angola LNG distinguishes Soares da Costa for reaching 20 million working hours without accidents > Painting exhibition by Isabel Ribas at Soares da Costa’s Gallery entitled “Impressions - Retrospective and Future” > Prince projects featured in Gulf Coast Business Review > Partnership with CP – Comboios de Portugal, challenge for award the employees (interail, rail travel, backpacks) > Social Ecobox (Ecoponto Solidário): campaign to raise food and other goods in favor of the animals of União

Zoófila de Lisboa > Celebration of World Tree Day 2012 (March 21) with an initiative in Serra da Lousã to support the sustainable

development of national forest heritage 2nd quarter

> Easter Camps Program for employee’s children > Social Corporate Volunteering: application of volunteers to Legião da Boa Vontade > Launch of Cais da Fontinha website (Soares da Costa real estate project) > Sponsorship and participation in two Charity Rounds, sponsored by Legião da Boa Vontade > Security Conference in Corgo’s Viaduct (Transmontana Motorway), in commemoration of the National Day of Prevention and Safety > Motivational Speech “It’s with me. I resolve it.” by Miguel Gonçalves > Solar thermal equipment offer (including the preparatory study and installation) from Self Energy to one of the

houses of the SOS Villages (Aldeias SOS) of Cascais > Completion of Neighbourhood Navy School Upgrade Project, for the Angola LNG (Soyo, Angola), marked with

the delivery of books to equip the library collected in a raising campaign among employees in Portugal (in 2011) > CLEAR receives “Customer Sales Volume 2011” and “Best Customer Quality VRV 2011” awards, delivered by

Daikin Europe NV > Soares da Costa’s Annual Technical Conference (Jornadas Técnicas) > Society of Construction Soares da Costa and Clear - Electromechanical Facilities classified as Excellent in Sustainability Survey conducted by PT to its suppliers (93% and 92% respectively) > Social Ecobox (Ecoponto Solidário): campaign to raise children and youth films, donated to the Legião da Boa Vontade > Celebration of World Environment Day (June 5), with a lecture on waste minimization and homemade compost, in partnership with LIPOR > Environmental Campaign “Let’s Save" (Vamos Poupar) launched to sensitize employees to reduce energy consumption, paper and printers ink

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3rd quarter

> Summer Camps Program for employee’s children > Soares da Costa joins the ECO Movement - Industry against fires (Movimento ECO) > Prince classified in 10th place in the ENR magazine top ten, in the class General Contractor Southeast U.S. > Nestlé’s new factory conclusion in Cacuaco, Luanda, built by Soares da Costa > Soares da Costa’s Staff Meeting (Angola) > Prince classified in 59th place in the ranking of the 500 largest companies in the Gulf Coast Business Review > Exhibition of paintings and drawings of Mariana de Castro at the Soares da Costa Art Gallery on the theme “the

5th element” > Social Ecobox (Ecoponto Solidário): campaign to raise paper for recycling, in favour of an organisation that

combats hunger (Banco Alimentar contra a Fome) 4th quarter

> Soares da Costa’s Prize Talent – announcement of results > Soares da Costa’s Staff Meeting (Portugal) > TOTAL’s new headquarters conclusion, in Luanda, built by Soares da Costa > Self-Energy qualified by the Directorate General for Energy and Geology (DGEG) as Energy Service Company

(ESCO), Level 2 > Health Day promoted at Soares da Costa, with free physical check-up in partnership with Virgin Active gym > Fire drill at Soares da Costa Headquarters > Initiative of corporate volunteer at the Centre CAIS Porto - Recover to Include > Christmas Camps Program for employee’s children > External audit that led to the certificates renewal for Quality, Environment and Health and Safety at Work of the

Sociedade de Construções Soares da Costa > Corporate volunteer project “Sou Capaz”, published as a case study in the Sustainability Yearbook, promoted

by BCSD Portugal > Sociedade de Construções Soares da Costa ranked 2nd largest company in the construction sector in Portugal,

regarding Expresso/ D&B study > Soares da Costa distinguished by QSP - Quality, Service and Price (Marketing Consulting, Ltd.) with 1st place

in the national study of spontaneous awareness - construction category - which served as the basis to guide “Brands To Score” > Scholarships attribution to Soares da Costa employee’s children > Christmas gifts attribution to Soares da Costa employee’s children up to 10 years old > Christmas baskets attribution to Soares da Costa employees > Christmas cocktails, with employees in multiple locations, offices and construction sites. > Recognition and distinction of employees who in 2012 completed 25 and 35 years of collaboration with the company > BESA - Banco Espírito Santo Angola head offices conclusion, in Luanda, built by Soares da Costa > Support of Centro CAIS Porto, with the acquisition (and distribution to employees) of 200 CAIS magazines > Competition and exhibition in the Art Gallery, with designs submitted by children of employees, alluding to the

theme “Soares da Costa in the World” > Social Ecobox (Ecoponto Solidário): campaign to raise several articles (clothes, toys, etc.), to the Centro Social

de Gião > Social Ecobox (Ecoponto Solidário): campaign to raise batteries, in association with the campaign of Ecopilhas,

in favour of IPO (Portuguese Oncology Centre)

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5.4

CORPORATE SOCIAL RESPONSIBILITY In Corporate Social Responsibility (CSR) area, Soares da Costa Group continues to focus on internal issues, supporting its employees and families through a range of actions and establishment of partnerships with external entities. Nevertheless, at the same time, we have continued to help organizations

5.4.1

and institutions which aim to support social initiatives, protect the environment and/ or encourage economic development, whenever these are compatible with the Group’s Corporate Social Responsibility Policy objectives and are economically viable.

ECONOMIC PERFORMANCE Value Generation and Distribution Economic Value Generated and Distributed (Euros) Revenues

2012

2011

Variation

834,029,214

887,399,068

-6%

801,560,930

866,985,725

-8%

31,757,122

16,649,366

91%

711,162

3,763,977

-81%

525,442,326

625,973,076

-16%

Sales and service rendered Change in stocks Own work capitalized Financial Income and expenses (except favourable exchange rate differences and discounts obtained for immediate payment) Gains on fixed assets Operating Costs Cost of Goods Sold

146,501,299

186,470,924

-21%

External Supplies and Services

378,167,507

437,246,965

-14%

773,520

2,255,187

-66%

Staff Costs and Benefits

Losses on Fixed Assets

145,110,723

146,388,809

-1%

Payments to Capital Providers

98,909,978

78,854,073

25%

275

3,750,881

-100%

98,909,703

75,103,192

32%

Dividends distributed Interest paid, other financial costs and losses, losses on investments in affiliate companies, capital losses on disposal of investments Payments to the State Income taxes, fines and penalties Investment in the Community Annual support (in form of sponsorships and/or payment of quotas) Sponsorship of external initiatives and events Support to internal initiatives (SDC)

4,921,455

-95%

4,921,455

-95%

185,828

745,636

-75%

67,261

179,178

-62%

5,000

296,983

-98%

113,567

269,475

-58%

Economic value generated

834,029,214

887,399,068

-6%

Economic value distributed

769,901,998

856,883,049

-10%

64,127,216

30,516,019

110%

Economic value retained

5.4.2

253,143 253,143

SOCIAL PERFORMANCE The Soares da Costa Group continues to be a relevant employer in the labour market, contributing actively to create direct and indirect employment both in Portugal and other countries in which it operates. This human capital represents the Group’s main asset for which various actions and initiatives are carried out as part of an internal program of social responsibility that seek to involve, motivate and put value on the employees of the company through sharing experiences and acquiring knowledge, continuously developing their skills and contributing towards their personal and professional career aspirations.

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1.

HUMAN RESOURCES PROFILE

At December 31, 2012, Soares da Costa Group had 4,510 employees, dispersed throughout the various countries where the Group companies develop its activities, of which 1,660 had their contract in Portugal (37% of the total), even though only 1.139 (i.e. 25 %) currently develop their work in Portugal and 521 in other geographies as expatriates. The gradual decrease in the number of employees over the past few years (and more pronounced in the year 2012) is related with the decrease in the work volume in the construction sector, mainly in the domestic market, inevitably implying an adaptation of the operational structure, giving it greater flexibility and efficiency.

Soares da Costa Group’s Employees vs. Turnover (Turnover in million Euros)

2012

1.139

337

565

3.371

2011

1.770

329

545

3.779

2010

1.768

380

513

4.184

Soares da Costa Group Employees (Headcount) Employees outside Portugal

2012

4.085

Employees in Portugal

425

International Turnover

2011

2010

5.003

5.412

546

Men

National Turnover

Women

540

Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A., consolidated.

Although in general, the percentage of women has tended to increase over the last few years, even slightly, the nature of the Group’s activities continue to lead to an imbalance between the number of male and female staff, with the percentage of women of total employees in the company reaching 10.4% in 2012. The majority of employees of the Soares da Costa Group are permanent members of staff (from the range of employees with contract in Portugal, only 3.92% have term contracts and 99.94% are full time employees), even though the nature of construction activities oftentimes imply the existence of a significant number of direct, fixed-term employees, due to the type, location and duration of projects.

Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A., consolidated.

The chart above illustrates the evolution of the company’s human capital due to turnover, taking into account the domestic and international market. In 2012 the domestic market accounted for 29% of turnover and 25% of the human resources of the company, while the international market accounted for 71% of turnover and 75% of human resources.

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REPORT & ACCOUNTS 2012 | GRUPO SOARES DA COSTA, SGPS, SA

Soares da Costa Group Employees, by Age (Headcount)

2012 67 303

497

718

18 to 29

75

Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A., consolidated, but only regarding employees with contract in Portugal.

30 to 39 40 to 49

2011 137 409

647

987

135

50 to 59 60 or more

2010 180

453

777

1.045

In 2012, and for the reasons explained at the beginning of this chapter, 667 staff – from the overall employees with contract in Portugal - left the company (of which 57 were women), meaning that the staff turnover rate (increment of the number of outs against the previous year) was 180.25%, with the highest rate occurring among 50 to 59 year olds. Despite these departures, the high concentration of employees of the company is in the age groups between 50 and 59 years old and between 40 and 49 years old, which together represented more than 73% of the total number of employees by the end of 2012 (70% in late 2011).

2.

TRAINING

Professional training is seen by the Soares da Costa Group as a tool for developing human resources, the goal of which is to contribute actively towards the development of the organisation and to create value for the business. To this end, the company has carried out various training programmes in line with its current Strategic Plan and guided by the objectives of strengthening international expansion and concentrating resources in the construction business. At the moment, two specific programmes are being run in the area of “project management”, one aimed at a younger target audience (Initial Project Management Programme – IPMP) and another for more senior engineers (Advanced Project Management and Negotiation Programme – APMNP). The IPMP was run for the first time this year, while the APMNP was run for the second time between September 2011 and March 2012. In the area of foreign languages, 2012 saw the launch of the “English – oral training” programme. This is an advanced course, the aims of which are a significant improvement in English grammar and vocabulary, and an increase in fluency. The fact that the programme has been customised with exerci-

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ses specifically for the Civil Construction and Public Works sector as well as for an international business context is worthy of note. We also launched in 2012 the “Ms Construction Site Support Project” programme, designed and taught internally, and which was run for the first time in Luanda for staff in the company Clear Angola. In September and October 2012, the first “Construction Project Financial Management Programme” was run. All these specific programs, which are part of the permanent teaching offer of the “Knowledge Academy”, aim to build a set of skills that are considered to be critical for the jobs and careers of specific functional groups. Soares da Costa Group’s objective (of increasing international expansion through until 2014) means that it is essential to offer these training courses to expatriate staff.

Training hours, by training area (hours)

2012

67

2011

137

2010

303 497

409

180

647

453

777

Technical Areas Management and Engineering Human Resources Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A., consolidated, but only regarding employees with contract in Portugal.

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From the 9,349 total training hours given in 2012, to the employees with contract in Portugal, the biggest training offer was in the technical areas of Quality, Environment and Health and Safety (26%) and in themes related with engineering.

3.

HEALTH AND SAFETY AT WORK

Health and Safety management has been implemented across all Soares da Costa Group companies, and although different management systems and thus different working policies in each group com-

pany exist in relation to these areas, the underlying principles are shared, involving all employees and common procedures, with the goal of reducing the work accident indices each year. The principal mission of Accident Prevention and Safety is to identify and implement measures to prevent and protect human life while carrying out the company’s business, ensuring that safe, hygienic and healthy work conditions exist at work. In addition, all employees have access to the company’s health services (in particular medicine at work).

Health and Safety Key Indicators

2012

2011

2010

Work Accident Frequency Index (number of work accidents per million hours worked)

25.62

25.02

29.02

Occupational Illness Frequency Index (number of work diseases per million hours worked)

6.60

4.17

2.69

Absenteeism Rate (number of days lost through low and faults per million hours worked)

5.11%

6.00%

4.26%

Severity Index (number of days lost due to work accidents per million hours worked)

2,203.87

349.18

512.03

Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A., consolidated, but only regarding employees in Portugal, Angola and Mozambique.

In 2012, 101 work accidents were recorded, a fall of 6.48% compared to 2011. However, due to a mortal accident on a construction site, there was an increase in the accident severity index. This accident occurred on the project of the Transmontana motorway, while a subcontractor from the project was doing some works on an overpass on EN 15 in Sesulfe, Macedo de Cavaleiros. Excluding this fatality (equivalent automatically to 7,500 days lost), the severity index would have been 301.36 days lost per million hours worked, which would have represented an improvement over the previous years, in line with the trend of the last few years.

4.

During 2012, as was the case in previous years, training in this area involved the carrying out of onsite sessions covering issues such as alcohol and psychotropic drug abuse, emergency response capability, individual and collective protection, dangers and risks arising from building activities, handling dangerous products safely, among others. For work involving special risks, specific training sessions were prepared and carried out on subjects such as “Working at Height”, “Confined Spaces”, “Digging Tunnels” and “Moving Earth”. The training was given not only to employees of the company but also to the entire subcontractor chain.

SOCIAL INVOLVEMENT

Through its Corporate Social Responsibility Policy, the company seeks to manage its involvement with the community, and is committed to develop, implement and monitor its actions at all levels of the organisation, promoting awareness among its employees, customers, suppliers and Group companies about the importance of corporate social responsibility. The Internal Communication in the Soares da Costa Group is an essential tool for ensuring the involvement, participation and motivation of all employees in actions, projects and initiatives undertaken. We seek to acquire and share a wide range of information, taking into account the different busi-

ness units of the Group and the markets in which we operate, in an up to date, rapid and clear manner for everyone. > Employee Meetings: employees meet annually

in an initiative designed to share information across the entire company, at which members of the Board of Directors, other employees and/or guests present high profile projects and actions in different areas, financial results and the strategic goals for the coming year. In 2012, this event was also held in Angola and was attended by a large number of local and expatriate employees;

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> Technical Construction Seminars: the annual

> Scholarships: The 2012/2013 Scholarship pro-

technical seminars are initiatives taken to promote the sharing and transfer of technical knowledge and personal and professional experience of various employees. In 2012, we welcomed the presence of a guest speaker from the Economics Faculty of the University of Porto and representatives from PRINCE (Soares da Costa’s company in the USA), as well as various Portuguese colleagues high qualified, from different Soares da Costa Group’s companies (namely CLEAR and Sociedade de Construções Soares da Costa) who presented subjects of interest related to construction techniques;

gram led to the award of 72 scholarships to children of employees of Soares da Costa Group companies, of which 65 were awarded on the basis of social support, 5 on academic merit and 2 for special teaching.

> Protocols: The Soares da Costa Group continues

to establish various protocols, the goal of which is to provide special access conditions for its employees and their families to products and services. In 2012, 9 new protocols were agreed, in the health, wellbeing/beauty, financial and hotel sectors; > Christmas: in 2012, Christmas was celebrates

with a number of parties (cocktails) that took place at the builder’s yard (Rechousa Industrial Estate), the Pousada de Covilhã (Covilhã Heritage Hotel) construction site, the Lisbon branch office and the company’s head office, with the presence of the Executive Committee. Also during the Christmas season, the Soares da Costa Group carried out another social responsibility initiative, giving support to 272 employees by offering Christmas baskets; > 2012 Employees Honour: Soares da Costa once

again paid tribute during the year to employees who completed 25 or 35 years of service in the Group. During the Christmas cocktails, 92 employees who had reached these milestones were honoured; > SDC Gallery: the gallery which opened in De-

cember 2012 gives the opportunity to a number of employees and their families to exhibit their work, whether amateur or professional, in any discipline. In 2012, there were three painting exhibitions. Education continues to be one of the key areas of attention and action in the corporate social responsibility area. The most important initiatives taken in this area were the Talent Prize and the programme for the award of scholarships. > Talent Prize: In yet another Soares da Costa Talent

Prize event, the jury decided to award the academic year 2011/2012 prize to Ms Vanessa Fernandes Silva (Integrated Masters in Civil Engineering from the Engineering Faculty of Porto University), who completed the Case Study “Risk Analysis – Parameterization and Means to Mitigate”. The prize involved an internship of 6 months in the company, during which time the student had the opportunity of increasing her knowledge;

Scholarships Awarded 2012/2013 Higher Education

18

Special Education

2

Primary Education

23

Secundary Education

29

Note: The reporting scope of these indicators is the Soares da Costa Group, S.G.P.S., S.A

In keeping with a spirit of social responsibility, the company promotes and supports several initiatives regarding Family Support, such as holiday camps and the offer of presents: > Holiday Camps: there are normally three holiday camps each year: in the spring, the summer and at Christmas, at which employees benefit from special conditions through protocols established with a number of accredited institutions in this field. > Christmas Presents: it has become a tradition to

offer Christmas presents to children of the employees of Group companies up to the age of 10 years. This year around 400 presents were given while various presents not claimed for previous years were donated to a charitable institution. Many social responsibility initiatives have been carried out in Angola and Mozambique, countries where Soares da Costa has been doing business for large 30 years, seeking to act both internally and externally by supporting our employees or through involvement with the local community. For the year 2012, a number of social responsibility initiatives can be highlighted, which took the form of monetary or material support to carry out a range of actions, such as:

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> Organization of a Children’s Party in the settlement

of Tombo (around 250 children), with an offer of cold drinks and biscuits; > Celebrations for the 31st anniversary of the Boavista Fire Brigade headquarters by donating drinks; Support to the 2nd solidarity game for the Friends of Sambizanga Association by donating food (rice, pasta and powdered milk); > Support to the 2nd Charity Gala of the Angolan Red

Cross through financial aid; > Activities to promote health in Mozambique (carried

out as part of the construction of the new bridge over Tete River): giving talks (every two months), showing of films about various subjects such as HIV, tuberculosis, personal hygiene, malaria, among others, to the local population which works on the construction site. These talks are given by doctors and health practitioners (via a contract with a local clinic). Also noteworthy is the agreement of a contract with the Tete’s area Health Department to distribute condoms free of charge to workers, which, together with activities aimed at promoting health, aim at reducing the incidence of sexually transmitted diseases; > Donation of an incinerator for hospital waste:

given to the Health Centre of the M’Padué district (where the site’s builders yard is located) and which is currently used by the Builders Yard’s Medical Station and by the Health Centre and which, by being exchanged for the existing equipment, will increase levels of health and hygiene for the entire population of the district; > Material and logistic support (given by Soares da Costa Moçambique, SARL, SA) for the holding of social gatherings, one in Manhiça and two in Maputo, involving a total of around 110 young people and lasting for three days, at which subjects such as civic, social and charitable actions by young people and the public in general are discussed; > Conversion of two sea containers into libraries to be installed in the civic centres of the towns of Mapai and Chicualacuala, with help from the company in order to improve conditions of access to reading for teaching and training purposes or as a leisure pursuit.

Regarding the construction of the Transmontana Motorway, between Vila Real and Quintanilha, the construction consortium CAETXXI (in which Soares da Costa has a shareholding of 50%) has been given special attention to relationships with various social partners. Some of the most important initiatives taken during 2012 were: > Study visits to various teaching establishments

relating to different aspects of the construction project involving 337 people - Engineering Faculty of the University of Porto (FEUP), NewMENSUS - FEUP, Trás-os-Montes and Alto Douro University (UTAD), Vila Real Business Association (NERVIR), Piaget Institute of Mirandela, Felgueiras Management and Technology High School (ESTGF) and the Career Training Centre for the North of Portugal Civil Construction and Public Works Industry (CCICOPN); > Technical visits to the site by various entities (96

people – Road Network of Portugal of Vila Real and Almada, and the Portuguese Institute of Engineers); > Monitoring of the internships of 4 students from the Vila Real Business Association (NERVIR); Provision of 2 career internships (Accounting and Public Administration Internship, and Safety at Work Engineering Internship); > Participation as guest speakers at the Conferen-

ce - “The challenges of Geology/Geo-techniques in the construction of the Transmontana Motorway Sub-concession” during the Science and Technology Week- 2012 (UTAD, CAETXXI, CÊGÊ and INFRATÚNEL); > Donation of 3,000 tons of milled materials from

deactivated sections of the IP4 roadway (to the Town Councils of Sabrosa, Bragança, Macedo de Cavaleiros, District Councils of Amendoeira, Santa Comba de Rossas, Sortes and Milhão); > Pine trees planted on an area of waste round in Lot 3 (near to Murça), at the request of the owner; > Awareness actions aimed at local residents concerning work carried out at night; > Distribution of awareness raising brochures to residents living close to the security perimeter set up when excavation work was carried out using explosives.

Case Study - “Sou Capaz” “Sou Capaz” (I Can) is a business voluntary work programme of the Soares da Costa Group, and forms part of its Corporate Social Responsibility strategy, the cornerstones of which are actions and initiatives in Education, Health and Safety, and the Environment. The mission of the project (covering Portugal and across all employees of the SdC Group) is to promote the social wellbeing of less privileged segments of the population. Its main objective is thus to provide the necessary conditions for any Group employee to be able to take part in social solidarity actions (voluntary work) during normal working hours without this affecting his/her remuneration or normal work: > CAIS Association: the partnership set up with

CAIS in 2012 has resulted in three social responsibility initiatives that have been very much appreciated

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by our employees: • A two day voluntary action carried out at the CAIS Porto premises, where company volunteers spent their time carrying out refurbishments to the buildings (small repairs, cleaning and painting); • Providing company premises to show and sell articles from the CAIS Recycling workshop, made by users of the charity during the Christmas season; • Purchase (and distribution among employees) of 200 copies of the CAIS magazine over Christmas; > SOS Villages (“Aldeias SOS”): the partnership

of the Soares da Costa Group with this charity led to an important contribution coming from one of our companies – Energia Própria – which donated (and was also responsible for a preparatory study and its implementation) a thermal solar device to one of Aldeias SOS’s houses in Cascais; > Charity Rounds: working closely once again with

the Porto “Legião da Boa Vontade”, this year two more Charity Rounds were carried out by volunteers from Soares da Costa who took part in the preparation and distribution of meals to homeless people in the region; > United Forest (“Floresta Unida”): The Soares

da Costa Group celebrated 2012 World Tree Day by

5.4.3

going to the Lousã hill range to support the sustainable development of forests in Portugal. A number of company volunteers together with a team from the “Fundação Floresta Unida” (United Forest Foundation) went there to control invasive plants, clear and clean up woodland, and carry out other work that allows trees already planted to grow and develop for another year. In total, an area of around 3 hectares of forest was worked on; > Social Ecobox (“Ecoponto Solidário”): as part

of this project involving the donation of a range of goods collected by our employees, we carried out the following charitable actions in 2012: • Collection of food and other goods for lost animals found and looked after by the Lisbon União Zoófila (abandoned dog and cat care centre); • Collection of films for children and young people (DVD, VHS), and donated to the Porto’s Legião da Boa Vontade; • Collection of a range of food items and donated to the Porto’s Legião da Boa Vontade; • Collection of paper for recycling for the “Banco Alimentar contra a Fome” (an association that provides food to necessitated people); • Collection of various items (clothes, toys, hygiene products) for the Gião Social Centre in Santa Maria da Feira.

ENVIRONMENTAL PERFORMANCE The goal of management of environmental issues among companies of Soares da Costa Group is to continually minimise the potentially negative impacts resulting from construction activities and the day to day operation of buildings and other fixed premises used by the company. The management principles of sustainable environmental management focus on the protection and preservation of the environment, concentrating on four major areas: optimising consumption of materials, reducing consumption of energy and water, protecting surrounding biodiversity and minimising negative impacts involving emissions, effluents and wastes generated. Over and above compliance with existing legal and operational requirements, measures are taken to minimise the environmental risks of the company’s activities with a view to optimising environmental performance.

1.

ENERGY AND CLIMATE CHANGE

A decrease in construction activity in Portugal; the different types of construction projects and different phases in which they are; actions taken to raise awareness among staff; and effective sustainable

management of energy consumption explain the significant fall in the energy consumption of the group, regardless of the energy source involved or location of consumption. Total Consumption of Energy, by Source (Gigajoules)

2012

15,937

31,208

2,296 381

2011

17,749

38,291

2,512 382

Electricity

Petrol

Diesel Fuel

Gas and Biomass

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s) and the Group’s vehicle fleet. We do not present the energy consumption for 2010, since only from 2011 it was possible to differentiate the consumption of Soares da Costa’s subcontractors hired. The inclusion of this value (including use of subcontractors) would lead to an incorrect evolutionary reading.

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Most of the energy was consumed by the vehicle fleet of the company (motor vehicles and equipment), which accounted for around 45.27% of total consumption during the year (49,822 GJ), meaning that the energy source most used was diesel fuel (62.64% of consumption). In 2012, the sharpest drop in energy consumption (around 20%) was in the vehicle fleet, due to a reduction in the company’s fleet and also because of actions taken to increase awareness among employees of consumption of this kind.

Total Consumption of Energy vs. Turnover (in million Euros)

2012

377

2011

Total Air Emissions, by type (Ton CO2)

2011

2,469

2,973

2,156

2,401

In the comparative analysis of emissions with national turnover (excluding ACE’s), there is a slight increase in 2012, about 12%, as a result of Soares da Costa’s employees mobility due to the high internationalization.

Total Air Emissions vs. Turnover (in million Euros)

2012 2011

327

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s) and the Group’s vehicle fleet; turnover includes the activity in Portugal but excluding ACE’s. We do not present the energy consumption for 2010, since only from 2011 it was possible to differentiate the consumption of Soares da Costa’s subcontractors hired. The inclusion of this value (including use of subcontractors) would lead to an incorrect evolutionary reading.

2012

In 2012 there were a total of 7,566 tons of CO2 emissions, a reduction of about 9% over the previous year, with most of these emissions being associated with electricity consumption and travels (by plane and train), which accounted for about 67% (indirect emissions).

2,941

3,651

Direct Emissions Indirect Emissions (sources controlled by the company) Indirect Emissions (sources not controlled by the company) Note: The “Direct Emissions” arise from energy consumption (with the exception of electricity used in fixed units, construction sites and for the vehicle fleet); the “Indirect Emissions (sources controlled by the company)” arise from electricity consumption (in any work location) and the “Indirect Emissions (sources not controlled by the company)” arise from travels (by train and by air). The reporting scope of these indicators is Grupo Soares da Costa, S.G.P.S., S.A., on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s) and the Group’s vehicle fleet. We do not present the air emissions for 2010, since only from 2011 it was possible to differentiate the energy consumption of Soares da Costa’s subcontractors hired. The inclusion of this value (including use of subcontractors) would lead to an incorrect evolutionary reading.

57

51

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s) and the Group’s vehicle fleet; turnover includes the activity in Portugal but excluding ACE’s. We do not present the air emissions for 2010, since only from 2011 it was possible to differentiate the energy consumption of Soares da Costa’s subcontractors hired. The inclusion of this value (including use of subcontractors) would lead to an incorrect evolutionary reading.

In the context of environmental protection and preservation, Soares da Costa Group has developed several initiatives, in order to minimize energy consumption, material consumption, waste production and engagement with employees and surrounding communities, including: > World Environment Day: in 2012, this day was

celebrated at Soares da Costa with a talk about waste generation, minimizing levels of waste and the opportunities for home composting, reflecting the project “Terra-a-Terra” (Earth to Earth), implemented by LIPOR – Inter Municipal Waste Management Service for the Porto Metropolitan Area; > “Vamos Poupar” (Let’s Save) Campaign: this campaign was launched in 2012 by Soares da Costa, with the goal of raise awareness among employees for reducing paper consumption (through digitalization and/or printing documents on both sides of paper), computer consumables (black and white, and rough draft printing) and energy (reducing usage time for air conditioning and artificial lighting); > Sharepoint Knowledge Management – Cons-

truction Project Document Management: This

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software, implemented in 2012 by Clear – Instalações Electromecânicas, SA, builds a data base linked to a server in the organization, thus providing information to all users of the network. With this tool, a digital data base can be developed, facilitating the circulation of information and reducing the environmental impacts of paper and ink consumption; > Digital Portfolio: Following a policy already adopted for the construction area, CLEAR started promoting company construction projects and services in a socially and environmentally responsible manner, online, using a properly qualified and competent entity to certify the sales information to be disclosed, ensuring the use of ethical sales techniques, and avoiding in particular exaggerated claims concerning the services and knowledge existing in the organization.

2.

WATER RESOURCES

Between 2010 and 2002, an overall fall in water consumption occurred in the Soares da Costa Group. As might be expected, most of this decrease took place on construction sites, these being the main area of consumption (70% of the water consumption occurs on construction sites). The sharp drops in water consumption are mainly due to the various actions taken to raise awareness among employees (on site and in fixed premises), but also to reduced construction activity in Portugal and the varying phases of completion of construction sites in progress during the period. In 2012, there was a consumption of 37,239 cubic meters of water, about 43% lower than in the previous year.

Total Water Consumption, by Source (Cubic Meters)

2012 2011

16,399

9,582 11,258

29,236

2010

15,262

56,532

The comparative analysis of this consumption with the national turnover (excluding ACE’s) indicates a decrease in 2012, of about 22% of the number of cubic meters consumed per million Euros of turnover.

Total Water Consumption Vs. Turnover (in million Euros)

2012

282

2011

2010

361

242

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s); turnover includes the activity in Portugal but excluding ACE’s.

As we can see by these results, Soares da Costa’s construction companies didn’t have a significant impact on water consumption so as to affect the surrounding environment, either by lowering water table levels or by altering the capacity of neighbouring ecosystems to carry out their function. This is done by the appropriate management of construction site activities through establishing criteria for minimising consumption, as specified in the Environmental Management Systems implemented. At the same time, only water coming from duly licensed sources is used, ensuring proper monitoring and control. The specific nature of the activities of Soares da Costa does not usually permit the recycling or reuse of this resource as much as we would like. However, efforts are made, whenever possible to do this, and it is estimated that in 2012 some 110 m3 of water were reused, equal to about 0.3% of total consumption.

20,483

6,154 8,063

Water Tables Wells Public Network Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s).

3.

MATERIALS AND WASTE

In managing material consumption, the company seeks to act guided by two main principles: the sustained minimization of materials used in the execution of construction projects, and a reduction in consumption of office and administrative support materials. The planning for procuring these materials is done according to two criteria, both for economic and environmental reasons: to achieve minimum usage (and the most efficient); and to guarantee

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the quality of work on the construction site. The reuse of various materials should be noted, coming from construction site activities, and whenever this makes sense taking into account the type of work involved on the site. These environmentally responsible practices mean that the consumption of virgin materials and the volume of waste sent to other locations can be reduced. The high production and diverse nature of the waste generated by a construction company is a common feature of this sector of business activity and requires careful management, both in order to minimise the quantity and to properly separate it in order to ensure an appropriate final destination, which respects the principles of waste recovery whenever possible. In order to manage the waste generated,

various separation and temporary storage procedures are followed in accordance with the nature of each type, and with procedures specified in the group’s Environmental Management Systems). The waste is then sent to a final suitable destination using third party companies, which are licensed and contracted to carry out the management of the waste, collecting, transporting and taking it to an appropriate final destination. The following table shows the production of waste, catalogued according to the designation of the European Waste List (LER Code), expressed in tonnes and between the years 2010 and 2012. The diversity of waste generated by construction activities, leads that only the main types of waste (most produced) are displayed.

Main Wastes Produced (tonnes) LER Code

Designation

2012

2011

2010

0,00

0,64

14,22

15 01 06

Mixture of packaging

17 01 01

Concrete

257,86

878,27

1.631,27

17 01 07

Mixture of concrete, bricks, tiles, roof tiles and ceramic materials

445,08

3.657,26

3.720,95

17 02 03

Plastic

19,17

44,66

323,73

17 03 02

Mixture of bitumen not covered by code 17 03 01

60,50

1.314,04

440,09

17 04 05

Iron and Steel

202,39

294,06

235,13

17 04 07

Mixture of metals

5,36

19,27

65,52

17 05 04

Earth and Rock not covered by code 17 05 03

11,12

9.118,48

98,01

17 09 04

Mixture of Construction and Demolition Waste (CDWs)

183,73

314,02

688,53

20 03 01

Mixture of comparable urban waste

5,13

53,67

13,25

7.093,01

28.152,00

24.199,68

8.283,34

43.846,37

31.430,38

 

Other (including reused CDWs)

 

TOTAL (TONNES)

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s). LER Code represents de designation of the European Waste List.

In 2012, the trend of falling waste generation continued, declining during the period by around 80% comparing to 2011. Like other environmental indicators already mentioned, these are also influenced by the decrease in construction activity in Portugal, by the different stages of the works in progress, by their type and by initiatives implemented to raise awareness and sustainable management, which does not allow a linear comparison between this evolution.

Waste Production vs. Turnover (in million Euros)

2012

63

2011

2010

244

107

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s); turnover includes the activity in Portugal but excluding ACE’s.

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Almost all (around 97%) of the waste produced is sent for recycling and recovery. There was a significant increase in 2012 of recycled waste, resulting from destination code R4, used for metal waste. The value of this waste, distributed among a number of different LER codes, makes up a significant part of the total of waste generation (around 55%), as a result of the sale of machines and equipment by the group. The amount of hazardous waste generated during the year continued to be relatively insignificant compared to the total, equal to around only 1.2%.

Waste Production, by Final Destination (%) 0.1%

2012

50.1%

47.1%

2.7%

4.

ENVIRONMENTAL INVESTMENT

The majority of expenditure related to the company’s environmental performance result from site environmental monitoring, and implementing measures to protect the environment using environmental management systems, the goal of which is to protect and preserve the environment. According to the philosophy of the Soares da Costa Group, these costs are considered to be investments to protect the environment, rather than running costs. In 2012, we invested about 512,000 Euros in initiatives and equipment for environmental protection and preservation, of which about 47% were related to waste and effluents management and 44% with the environmental monitoring. The comparative analysis with the domestic turnover (excluding ACE’s) indicates an increase in environmental investment per million Euros billed.

0.4%

2011

95.6%

0.3%

Environmental Investments, by Type (Euros)

3.7% 8.3%

2010

80.9%

8.7%

2012 2.1%

226,901

42,555

2011

Recovery (R9, R13, R12)

243,146

135,447 201,654 66,085

Recycling (R3, R4, R5) Landfill (D1)

2010

Elimination (D14, D10, D15)

463,574

346,848

97,671 Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s).

In terms of effluents generated, of particular interest is the generation of industrial effluents at the São Félix da Marinha builders’ yard, which in 2012 produced 1,357 cubic metres. Due to the nature of these effluents and in particular to their treatment and monitoring, they are not believed to significantly affect any habitats or water resources and their respective biodiversity.  

2009

2010

2011

2012

Effluents Produced (ETAR flow in m3)

2.597

2.684

2.039

1.357

Note: The reporting scope of these indicators is Grupo Soares da Costa, SGPS, SA, on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s).

Environmental Protection Measures, Monitoring, Licences, Audits and Other Waste and Effluent Manafement Environmental Monitoring and Documentation Note: The reporting scope of these indicators is Grupo Soares da Costa, S.G.P.S., S.A., on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s).

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Environmental Investments vs. Turnover (in million Euros) 2012 2011

2010

5.5

3,876

2,239

3,099

Note: The reporting scope of these indicators is Grupo Soares da Costa, S.G.P.S., S.A., on a consolidated basis, including all fixed units of work (offices and shipyards), projects in Portugal (excluding ACE’s).

SUSTAINABLE MANAGEMENT In business since 1918, the Soares da Costa Group is one of the biggest civil construction and public works groups in Portugal, and is steadily increasing its international business. In addition to Portugal, the company has a permanent presence in countries such as Angola, the USA and Mozambique and others, with construction being its main business but also having a varied portfolio of activities such as concessions, real estate and energy services.

5.5.1

MANAGEMENT MODEL AND IMPACTS OF ACTIVITY The management of issues relating to Corporate Social Responsibility is the responsibility of the Communications Department which carries out a range of activities, working closely with other functional areas of the Soares da Costa Group, such as the Human Resources Department or the Health,

Safety, Environment and Quality Department, among others. In addition to the Vision, Mission and Values which govern its business, the Group also has other tools to guide it towards responsible and sustainable activity from an environmental, social and ethical standpoint.

Código de Conduta Empresarial e Princípios de Negócio

Políticas Corporativas 1

Responsabilidade

Igualdade e Diversidade

Social Corporativa

de Oportunidades

Ambiental

Prevenção, Segurança, Higiene e Saúde

Sustentabilidade

Qualidade

Within the Soares da Costa Group, there are various companies which have independent Environmental, Quality, and Accident Prevention, Safety and Hygiene Management Systems, which are certified externally.

1

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Through the Sustainability Policy of the Soares da Costa Group, S.G.P.S., S.A., the company commits to promote and contribute towards sustainable business activity, with a model that can drive improvements in economic, social and environmental performance through the pursuit of the following guidelines: > Striving to reduce the environmental impacts of its activities, in terms of consumption of resources and the environmental discharges for which it is responsible, with a view to continuous improvement, based on the monitoring of various key indicators which are part of its Environmental Management System; > Investing in promoting employee satisfaction, aware of the fact that human resources are its main asset, supplying them with all the conditions and means at its disposal for this to happen, in the knowledge that their satisfaction will help drive the overall prosperity of the company and the sustainability of its business; > Striving to contribute in a responsible manner to

a fairer and more equitable society, seeking to act among the local communities among which it carries out its business, in order to find the best ways to

Health and Safety

Environmental

Social

take action to improve their situation; > Contributing towards the reduction of work acci-

dents that are a feature of its sector of activity, seeking to improve the safety and health conditions of all of its employees, encouraging training and access to information in this area and controlling all aspects of performance and improvement through its Health and Safety at Work System; > Making efforts so that its concerns and contribution towards more sustainable development are taken into consideration by all those with whom the company establishes relationships, actively encouraging the efforts of all stakeholders to achieve these objectives; > Encouraging research and innovation, as a means of contributing towards the use of new materials and processes related to construction activities.

The objective of this policy and the guidelines resulting from them is to provide food for thought about the main risks and opportunities that the business units face in the different countries in which the group operates.

Main Risks

Main Opportunities

Risks of work accidents occurring, lost working days, occupational illnesses, absenteeism

Proactive training / awareness raising as the best means of pre-empting risks concerning to the safety and health of employees

Instability in the energy market and climate change (greenhouse gas emissions)

Continuous monitoring of energy consumption, with the goal of implementing measures to minimise energy consumption

Costs arising from poor management of waste and the costs/risks related to protecting the environment

Appropriate management of the waste products of its activities, continuously monitoring a range of environmental factors

Possible significant environmental impacts

Appropriate follow up and control of significant environmental issues

Possible negative impacts on surrounding communities

Development of projects that add value to surrounding communities and contribute towards their well being

Risks of losing the best talent, or of suffering low levels of productivity

Value Chain

Risks of the company being associated with unacceptable management by its suppliers

The Soares da Costa Group’s business activities in different countries are a positive factor contributing towards their economic, environmental and social development, both from the direct economic benefits arising from these activities and also from indirect economic benefits that they give rise to.

The company seeks to be recognised as acting in a fair manner, upholding principles of non-discrimination and investing in the development and training of its employees The company seeks to contribute towards improving the performance of the entire value chain by setting minimum requirements for performance by suppliers

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5.5.2

Main Impacts

Consequences/Results

Direct and indirect job creation

The main impacts arise from the payment of salaries to local employees, ensuring their personal/family subsistence and by promoting a better quality of life for them.

Purchase of local goods and services

The company contributes indirectly towards the socio-economic development of the different regions in which it operates, supporting a stable local economy by reducing costs related to the import of materials, and from the environmental standpoint by also reducing the impacts of transporting those materials.

Construction of buildings and infrastructure

Besides representing a direct economic benefit to the company, construction activities also bring significant benefits to surrounding communities, providing them with better quality of life and/or access to goods and services.

Adoption of best practices by business partners

Best practices in the management of quality, the environment, health and safety, and social responsibility, are in most cases assimilated and replicated among the various partners involved in our activities.

Economic development of sectors of activity other than construction

The development of Soares da Costa’s activities has the effect in many countries of boosting the development of other business sectors.

Transmitting know how in the construction sector

A learning effect takes place in markets where the company operates and where it’s specialised know how did not previously exist in the local community.

COMMITMENTS WITH EXTERNAL INITIATIVES In a relationship of commitment to sustainable development and to its different stakeholders, the Soares da Costa Group frequently takes part in external initiatives related to sustainability and/or social responsibility. In 2012, we maintain the relationships with the following initiatives: > Business Council for Sustainable Development (BCSD Portugal): An organisation whose main mission is “to enable business leadership to be a catalyst for change in the direction of Sustainable Development and promote ecoefficiency, innovation and social responsibility among companies”; > Platform for Sustainable Construction (centroHabitat): The centroHabitat is a platform for knowledge and innovation through networking by research and development institutions, town and city councils, and the important business community connected with Habitat, to support a focus on Sustainable Construction; > Reflection and Support Group to the Busi-

ness Community (GRACE): GRACE is made up of a number of companies, mainly multinationals, which share a common interest in increasing the role of the business sector in social development. Its mission is to Reflect on, Promote and Carry out Business Social Responsibility initiatives;

> Chamber of Commerce and Industry Portu-

gal Angola (CCIPA): The company “Sociedade de Construções Soares da Costa” is a member of the Board of the CCIPA, a private association of Portuguese and Angolan companies, set up in 1987 on the initiative of a group of high profile businessmen in the Portuguese and Angolan economies, with the goal of supporting the development of business relationships between the two countries; > iNOVA Association Gaia – Technological Incubation Centre of Vila Nova de Gaia: The mission of iNOVA.Gaia is to manage and run the Technological Incubation Centre iNOVA.GAIA, which supports research and development projects, specifically those which increase knowledge, and have merit for the teaching of higher education, and also those which create new technology based companies that encourage and propagate innovation at the heart of business through the application of this advanced knowledge. The Soares da Costa Group is represented in INOVA.Gaia by CLEAR – Instalações Electromecânicas SA, a founding member of the association.