Cathay Pacific Meets Concerns of Stakeholders and Wider Community with First Corporate Social Responsibility Report

Cathay Pacific Airways today released its first Corporate Social Responsibility (CSR) Report, highlighting the airline's commitment to being open, honest and transparent in meeting the concerns of stakeholders and the wider community. The airline has produced standalone environmental reports in the past but, with the CSR Report, is now widening its scope by also reporting on the social and community aspects of its business.

The new report, titled "Broadening Our Horizons", highlights Cathay Pacific's environmental performance and social responsibility initiatives in 2006 and sets out clear agendas and targets in various areas for the current reporting year. The report, which has been verified by the Association for Sustainable and Responsible Investment in Asia (ASrIA), acknowledges that corporate social responsibility is an important part of the airline's reputation and brand.

The report focuses on five different areas where the airline and its subsidiaries are deemed to be accountable to stakeholders: Protecting the Environment, Safety and Health, Community Initiatives, Human Resources, and Procurement and Supply Chains. A substantial section of the report is devoted to environmental issues, in particular highlighting the work the airline is doing in relation to the serious issue of climate change.

Cathay Pacific Environmental Manager Linden Coppell says: "In publishing our first Corporate Social Responsibility Report we want to begin an open and honest dialogue with our stakeholders in reporting not just on environmental issues but also on our social and community efforts. However, given current global concerns relating to the airline industry's impact on climate change, we expect most attention will be focused on our environmental performance."

The report makes clear Cathay Pacific's position on climate change and its efforts to limit its impact on the environment. The airline has adopted three key principles to clarify its approach to addressing climate change: maximising fuel efficiency and reducing fuel wastage through various means; addressing inefficiencies in air traffic management; and acknowledging the role of economic instruments such as emissions trading.

In March this year Cathay Pacific established itself as an environmental leader in Asia by announcing the development of a carbon offset scheme that will allow it to neutralise some of its carbon emissions.

The Cathay Pacific 2006 Corporate Social Responsibility Report can be downloaded in PDF format from the Cathay Pacific website.

The Cathay Pacific website can be found at www.cathaypacific.com