Case study: How Airpharm creates economic value for its stakeholders
Airpharm is a constantly growing logistics organisation that offers, among others, international import and export, logistics, warehousing and distribution, and foreign trade and technical consulting services, specialised in the chemical-pharmaceutical, veterinary and cosmetic sectors. Airpharm seeks to generate, through its operations, maximum economic value, and ensure its balanced distribution among its stakeholders.
This case study is based on the 2020 Corporate Social Responsibility Report by Airpharm, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.
Abstract
Creating sustainable economic value in the long term for all its stakeholders, is a top priority for Airpharm. Tweet This! In order to create economic value for its stakeholders Airpharm took action to:
- create economic value for employees
- create economic value for capital providers
- create economic value for public administrations
- support communities
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With this case study you will see:
- Which are the most important impacts (material issues) Airpharm has identified;
- How Airpharm proceeded with stakeholder engagement, and
- What actions were taken by Airpharm to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2020 Corporate Social Responsibility Report Airpharm identified a range of material issues, such as sustainable use of resources, workplace health and safety, environmental compliance, circular economy and waste prevention and management. Among these, creating economic value for its stakeholders stands out as a key material issue for Airpharm.
Stakeholder engagement in accordance with the GRI Standards
The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:
Stakeholders must be consulted in the process of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.
Key stakeholder groups Airpharm engages with:
| Stakeholder Group |
| Employees |
| Customers |
| Shareholders |
| Providers |
| Community |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Airpharm engaged with its stakeholders through interviews.
What actions were taken by Airpharm to create economic value for its stakeholders?
In its 2020 Corporate Social Responsibility Report Airpharm reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2020, Airpharm paid € 12.637.598 in employee costs.
- Creating economic value for capital providers
- In 2020, Airpharm paid € 28.889 to capital providers.
- Creating economic value for public administrations
- In 2020, Airpharm paid € 326.484 to public administrations.
- Supporting communities
- In 2020, Airpharm paid € 53.915 in community benefit investments.
Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?
The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed
Disclosure 201-1 Direct economic value generated and distributed corresponds to:
- Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
- Targets: 8.1, 8.2
- Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
- Targets: 9.1, 9.4, 9.5
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References:
This case study is based on published information by Airpharm, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:
https://www.airpharmlogistics.com/wp-content/uploads/2021/08/memoria-airpharm-rsc-2020-en.pdf
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