Case study: How Bondalti creates economic value for its stakeholders
Operating in the chemical industry for over 150 years, Bondalti occupies a very competitive position in this market, focusing on the Chlor-alkalis (PCA) productive sectors in the inorganic chemicals segment and Aniline and by-products (PAD) in the organic chemicals segment. Bondalti seeks to create long-term value for all its stakeholders Tweet This!, while contributing to the sustainable development of the society in which it operates.
This case study is based on the 2021 Integrated Report by Bondalti, 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
Being a renowned chemical partner on the global market, creating value for employees, shareholders, clients, suppliers and the community, is a top priority for Bondalti. In order to create economic value for its stakeholders Bondalti took action to:
- create economic value for employees
- create economic value for capital suppliers
- create economic value for the state
- create economic value for the community
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With this case study you will see:
- Which are the most important impacts (material issues) Bondalti has identified;
- How Bondalti proceeded with stakeholder engagement, and
- What actions were taken by Bondalti to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Integrated Report Bondalti identified a range of material issues, such as occupational health and safety, customer satisfaction, energy management, employee development and training. Among these, creating economic value for its stakeholders stands out as a key material issue for Bondalti.
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 s 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 Bondalti engages with:
| Stakeholder Group |
| Suppliers of raw materials, subsidiary materials and utilities |
| Shareholder |
| Employees |
| Transport Suppliers |
| Technology Suppliers |
| Clients – Organic |
| Clients – Inorganic |
| Regulatory Entities |
| Local Authorities |
| Local Community |
| Media |
| Sector Associations |
| Households |
| Services Suppliers |
| Partners |
| NGO |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Bondalti engaged with its stakeholders through a consultation survey among 539 stakeholders.
What actions were taken by Bondalti to create economic value for its stakeholders?
In its 2021 Integrated Report Bondalti reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Bondalti paid €28 million for employee wages and benefits.
- Creating economic value for capital suppliers
- In 2021, Bondalti paid €16 million to capital suppliers.
- Creating economic value for the state
- In 2021, Bondalti paid €0,50 million to the state.
- Creating economic value for the community
- In 2021, Bondalti spent €1,60 million in community 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 Bondalti, 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://sustentabilidade.bondalti.com/relatorios/RI_BONDALTI_2021_EN_V4.pdf
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