Case study: How Stena Metall creates economic value for its stakeholders
Operating at 200 locations in 9 countries, Stena Metall contributes actively to the development of the circular economy, working in close collaboration with customers and partners to achieve more efficient and smarter use of resources. Creating, through its products and services, sustainable value that benefits everyone – customers, their customers, the environment and society at large – is a top priority for Stena Metall. Tweet This!
This case study is based on the 2021/2022 Annual Review & Sustainability Report by Stena Metall, 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
In 2021/2022, the economic value distributed by Stena Metall reached SEK 40,476 million. In order to create economic value for its stakeholders Stena Metall took action to:
- create economic value for employees
- create economic value for financiers
- create economic value for authorities
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With this case study you will see:
- Which are the most important impacts (material issues) Stena Metall has identified;
- How Stena Metall proceeded with stakeholder engagement, and
- What actions were taken by Stena Metall to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021/2022 Annual Review & Sustainability Report Stena Metall identified a range of material issues, such as product and service quality, climate footprint, recycling efficiency and waste management, occupational health and safety, compliance with laws and regulations. Among these, creating economic value for its stakeholders stands out as a key material issue for Stena Metall.
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 Stena Metall engages with:
To identify and prioritise material topics Stena Metall engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Banks and financial institutions | · Ongoing dialogue · Capital market information meetings |
| Customers, partners and suppliers
| · Ongoing dialogue · Digital meetings · Webinars · Customer surveys |
| Employees | · Employee survey · Ongoing dialogues |
| Authorities
| · Consultation meetings · Supervision meetings · Participation in reference and consultation groups |
| Politicians and decision-makers | · Meetings and seminars · Response to consultation rounds · Participation in reference and consultation groups |
| Owner and Board of Directors
| · Board meetings and reports prior to meetings · Ongoing meetings and reports · Strategy meetings · Shareholders’ meeting |
What actions were taken by Stena Metall to create economic value for its stakeholders?
In its 2021/2022 Annual Review & Sustainability Report Stena Metall reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021/2022, Stena Metall paid SEK 2,872 million for employee wages and benefits.
- Creating economic value for financiers
- In 2021/2022, Stena Metall paid SEK 615 million to financiers.
- Creating economic value for authorities
- In 2021/2022, Stena Metall paid SEK 267 million to authorities (income tax).
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 Stena Metall, 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.stenametall.com/about-us/sustainability/sustainability-reporting/
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