Case study: How Aydem Renewables creates economic value for its stakeholders
Aydem Renewables is Aydem Energy’s company operating in the field of renewable energy generation, with 25 plants spread throughout Türkiye. Constantly striving for improvement in the area of renewable energy for today and tomorrow, Aydem Renewables seeks to create sustainable value for its customers, employees, suppliers, and society.
This case study is based on the 2022 Sustainability Report by Aydem Renewables, 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 direct economic value distributed by Aydem Renewables reached TRY 1,386,068,215. Tweet This! In order to create economic value for its stakeholders Aydem Renewables took action to:
- create economic value for employees
- create economic value for the state
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) Aydem Renewables has identified;
- How Aydem Renewables proceeded with stakeholder engagement, and
- What actions were taken by Aydem Renewables 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 Aydem Renewables identified a range of material issues, such as climate change, business ethics, disaster and emergency preparedness, employee satisfaction and loyalty. Among these, creating economic value for its stakeholders stands out as a key material issue for Aydem Renewables.
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 Aydem Renewables engages with:
To identify and prioritise material topics Aydem Renewables engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Employees | · Idea Line (continuous) · Enport Intranet Platform (continuous) · Enbülten monthly online communication magazine (monthly) · Social events (continuous) · Management meetings (continuous) · Employee training (continuous) · Project group meetings (continuous) · IKON app (continuous) |
| Shareholders and investors
| · Board of Directors meetings (continuous) · Committee meetings (once per 3 months) · Investor relations web site (continuous) · General Assembly meetings (annual) · E-mail, phone, and discussions (continuous) |
| Holding and Group Companies | · Board of Directors meetings (continuous) · General Assembly meetings (annual) |
| Public Institutions and Local Administrations | · Sustainability Report (annual) · Activity Report (annual) · Online and face-to-face meetings (continuous) |
| Suppliers and Subcontractors
| · Sustainability Report (annual) · E-mail, phone, and discussions (continuous) · E-procurement (continuous) |
| Banks and Finance Institutions
| · Online and face-to-face meetings (continuous) · Congresses (continuous) · Reporting (instant) |
| Universities and Research Institutions and Consultants | · Online and face-to-face meetings (continuous) · Congresses (continuous) |
| Independent Audit and Rating Agencies
| · Online and face-to-face meetings (continuous) · Congresses (continuous) · Reporting (instant) |
| Unions, Non-Government Organisations, and Industry Associations | · Sustainability Report (annual) · Activity Report (annual) · Online and face-to-face meetings (continuous) |
| Society
| · Meetings and face-to-face discussions (continuous) · Projects (instant) |
| Media
| · Sustainability Report (annual) · Activity Report (annual) · Press bulletins (continuous) · Press meetings and face-to-face discussions (instant) · Industry meetings and congresses (continuous) |
| International Organisations | · Projects (instant)
|
| Customers | · Projects (instant) |
What actions were taken by Aydem Renewables to create economic value for its stakeholders?
In its 2022 Sustainability Report Aydem Renewables reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, Aydem Renewables paid TRY 167,396,789 for employee wages and side benefits.
- Creating economic value for the state
- In 2022, Aydem Renewables paid TRY 587,846,248 in taxes and similar payments to the state.
- Creating economic value for communities
- In 2022, Aydem Renewables spent TRY 876,290 in donations, sponsorship, and corporate responsibility spendings.
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 Aydem Renewables, 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.aydemyenilenebilir.com.tr/sustainability
Note to Aydem Renewables: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.