Case study: How RISE creates economic value for its stakeholders
RISE Research Institutes of Sweden is Sweden’s research institute and innovation partner. Through international collaboration with industry, academia and the public sector, RISE ensures business competitiveness and contributes to a sustainable society. Generating, through its operations, long-term value for employees, investors, public authorities and all its stakeholders, is a key priority for RISE.
This case study is based on the 2022 Sustainability Report by RISE, 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 2022, the total economic value distributed by RISE reached SEK 4,566,445 thousand. Tweet This! In order to create economic value for its stakeholders RISE took action to:
- create economic value for employees
- create economic value for investors
- create economic value for public authorities
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) RISE has identified;
- How RISE proceeded with stakeholder engagement, and
- What actions were taken by RISE 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 RISE identified a range of material issues, such as continuous development of employees’ skills, good business and research ethics, imposing sustainability requirements on suppliers. Among these, creating economic value for its stakeholders stands out as a key material issue for RISE.
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 RISE engages with:
| Stakeholder Group |
| Trade organisations |
| Customer groups |
| Employees |
| Public funding bodies |
| Board of Directors |
| Owner |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics RISE engaged with its stakeholders through an online survey.
What actions were taken by RISE to create economic value for its stakeholders?
In its 2022 Sustainability Report RISE reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, RISE paid SEK 2,593,357 thousand for employee salaries and benefits.
- Creating economic value for investors
- In 2022, RISE paid SEK 27,667 thousand to investors and SEK 16,076 thousand in interest.
- Creating economic value for public authorities
- In 2022, RISE paid SEK 13,754 thousand in taxes.
- Creating economic value for communities
- In 2022, RISE spent SEK 90 thousand in social 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 RISE, 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.ri.se/sites/default/files/2023-04/RISE_Sustainability_Report_2022_web.pdf
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