Case study: How Cementir creates economic value for its stakeholders
Cementir Holding is a Dutch multinational company operating in the building materials sector and focused on four main business lines: grey cement, white cement, ready-mixed concrete and aggregates. Cementir redistributes part of the wealth it generates to its shareholders and all its stakeholders Tweet This!, including employees, suppliers, governments and local communities.
This case study is based on the 2022 Sustainability Report by Cementir, 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 economic value distributed by Cementir reached 1,544,040 thousand euros. In order to create economic value for its stakeholders Cementir took action to:
- create economic value for employees
- create economic value for capital providers
- create economic value for the government
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With this case study you will see:
- Which are the most important impacts (material issues) Cementir has identified;
- How Cementir proceeded with stakeholder engagement, and
- What actions were taken by Cementir 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 Cementir identified a range of material issues, such as climate change and GHG emissions, health & safety, human rights, cybersecurity and data protection. Among these, creating economic value for its stakeholders stands out as a key material issue for Cementir.
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 Cementir engages with:
| Stakeholder Group | Method of engagement |
| Personnel
| · Intranet · Official reports · Social networks · Survey · Training |
| Institutions and Authorities (local and national)
| · Exhibitions · Official reports · Participation in Global and Business Associations · Press releases · Public conferences |
| Shareholders
| · Direct contact · Official reports · Press releases · Shareholder meetings |
| Trade Unions
| · Dedicated meetings · Networking · Official reports · Working group |
| Local communities and local committees
| · Dedicated meetings · Direct contact · Official reports |
| Customers
| · Blog · Exhibitions · Official reports · Sales · Social networks · Survey · Training |
| Suppliers and contractors
| · CDP Supply Chain · Exhibitions · Official reports · Training |
| Environmentalist Associations
| · Official reports · Social networks · Website |
| Financiers
| · Direct contact · ESG ratings · Investor presentation · Official reports · Press releases |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Cementir engaged with its stakeholders through an anonymous multiple-choice survey.
What actions were taken by Cementir to create economic value for its stakeholders?
In its 2022 Sustainability Report Cementir reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, Cementir paid 198,182 thousand euros in personnel costs.
- Creating economic value for capital providers
- In 2022, Cementir paid 54,091 thousand euros to capital providers.
- Creating economic value for the government
- In 2022, Cementir paid 59,052 thousand euros in taxes.
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 Cementir, 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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