COSCO SHIPPING Ports highlights how taking part in WDI has helped them identify data gaps and drive cross-company collaboration to improve practices.
COSCO SHIPPING Ports Limited (CSP) is the world’s leading port logistics service provider, registered in Bermuda. The company operates 379 berths at 39 ports around the globe, with annual handling capacity of around 124 million shipping containers by the end of 2024. It has over 4000 direct employees.
The company considers transparency to be crucial to foster trust, build brand reputation and employee engagement, and attract socially conscious investors. CSP has disclosed data with WDI since 2023.
“Voluntary reporting remains critically important for our organisation. It allows us to demonstrate our commitment to transparency and accountability, build trust with stakeholders, and differentiate ourselves in the marketplace.” Li Fan, Investor Relations Manager, COSCO SHIPPING Ports Ltd
Transparency in practice
“We started participating in the WDI in response to investor requests for greater insight into our sustainability practices and performance”, explains Investor Relations Manager Li Fan.
Li reveals that while the company has always valued transparency, taking part in WDI has boosted both their understanding and application of the concept, benefiting company culture. “Participation in the WDI has significantly enhanced our understanding of organisational transparency and workforce management,” she explains. “We have learned the importance of clear communication and data sharing, which has fostered a culture of openness and accountability.”
More and better data
Li describes how much of the data they disclose through the WDI survey is drawn from the company’s existing annual sustainability report, but that the survey has also helped them to identify and address gaps in workforce data, such as tracking the nationality of employees.
“For any new data required by WDI, we began by focusing on specific business units or regions before expanding to global data, step by step, to improve data coverage and accuracy,” Li explains. “Taking part in the WDI has enhanced our organisation’s internal collaboration, driving significant improvements in our processes.”
Commitment and action
In an evolving landscape for sustainability reporting, marked by challenges to diversity, equality and inclusion (DEI) initiatives and forthcoming legislative changes in some regions, Li outlines how CSP plans to further improve their data collection and reporting capabilities to meet evolving needs.
“By maintaining and enhancing our voluntary reporting practices, we can better navigate the evolving landscape and reinforce our dedication to sustainable business practices,” she explains. “Next steps include expanding our data collection efforts to include more granular metrics, such as diversity indicators, which will help us identify areas for improvement.”