Case study: How Buzzi Unicem creates economic value for its stakeholders
Buzzi Unicem is an international multiregional “heavy-side” group, focused on cement, ready mix concrete and aggregates. Contributing to society growth and value creation for all its stakeholders, is a top priority for Buzzi Unicem. Tweet This!
This case study is based on the 2022 Sustainability Report by Buzzi Unicem, 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
Buzzi Unicem recognises the importance of creating and maintaining relationships of trust, based on mutual respect, active partnership, transparency and long-term collaboration with its stakeholders, generating sustainable value for all. In order to create economic value for its stakeholders Buzzi Unicem took action to:
- create economic value for employees
- create economic value for capital providers
- create economic value for governments
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) Buzzi Unicem has identified;
- How Buzzi Unicem proceeded with stakeholder engagement, and
- What actions were taken by Buzzi Unicem to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2022 Sustainability Report Buzzi Unicem identified a range of material issues, such as antitrust and anti-corruption, CO2 emissions reduction, health and safety, local communities engagement. Among these, creating economic value for its stakeholders stands out as a key material issue for Buzzi Unicem.
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 Buzzi Unicem engages with:
| Stakeholder Group |
| Employees |
| Supplier |
| Customers |
| Shareholders |
| Local communities |
| Associations |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Buzzi Unicem engaged with its stakeholders through discussions with experts representing the views of stakeholders.
What actions were taken by Buzzi Unicem to create economic value for its stakeholders?
In its 2022 Sustainability Report Buzzi Unicem reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, Buzzi Unicem paid Euro 560.0 million for employee salaries and benefits.
- Creating economic value for capital providers
- In 2022, Buzzi Unicem paid Euro 103.1 million to capital providers.
- Creating economic value for governments
- In 2022, Buzzi Unicem paid Euro 167.7 million to governments.
- Creating economic value for communities
- In 2022, Buzzi Unicem spent Euro 74.6 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 Buzzi Unicem, 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:
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