Case study: How Dimand creates economic value for its stakeholders
Dimand S.A. is a specialised real estate developer, offering highly integrated services across the full property lifecycle. Sustainable development is at the heart of Dimand’s business model, as it seeks to create fairly distributed and long-lasting value for the company, Dimand’s business partners and the society in which Dimand operates.
This case study is based on the 2021 ESG Report by Dimand, 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
Dimand implements a flexible and successful business model, in order to create sustainable value for both the company and all its stakeholders. Tweet This! In order to create economic value for its stakeholders Dimand took action to:
- create economic value for employees
- create economic value for providers of capital
- create economic value for the government
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) Dimand has identified;
- How Dimand proceeded with stakeholder engagement, and
- What actions were taken by Dimand to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 ESG Report Dimand identified a range of material issues, such as health and safety, ethics, transparency and compliance, greenhouse gases and air emissions, green building certifications. Among these, creating economic value for its stakeholders stands out as a key material issue for Dimand.
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 Dimand engages with:
| Stakeholder Group |
| Employees |
| Tenants / Customers |
| Contractors, suppliers and business partners |
| Business consultants, technical consultants and designers |
| Shareholders and investors |
| Rating agencies, banks and financial institutions |
| Governmental and regulatory authorities |
| Local communities, Municipal authorities and Non-Governmental Organisations (NGOs) |
| Opinion leaders in Media and Academia |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Dimand engaged with its stakeholders through online surveys.
What actions were taken by Dimand to create economic value for its stakeholders?
In its 2021 ESG Report Dimand reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Dimand paid € 2,461,109.18 for employee wages and benefits.
- Creating economic value for providers of capital
- In 2021, Dimand paid € 887,537.55 to providers of capital.
- Creating economic value for the government
- In 2021, Dimand paid € 284,684.46 to the government.
- Creating economic value for communities
- In 2021, Dimand spent € 126,500.00 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 Dimand, 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://dimand.gr/wp/wp-content/uploads/2022/09/DIMAND-ESG-Report-2021_EN.pdf
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