Case study: How Cenviro creates economic value for its stakeholders
Cenviro is a goal-driven integrated waste resource management company committed to delivering high-quality services within the full spectrum of waste resource management to its customers, advancing Malaysia’s waste industry towards resource recycling and recovery. Embedding sustainability considerations within its business operations is a top priority for Cenviro, with the primary focus of delivering sustainable value to its key stakeholders. Tweet This!
This case study is based on the 2021 Sustainability Report by Cenviro, 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 2021, the economic value distributed by Cenviro reached RM 173,385 thousand. In order to create economic value for its stakeholders Cenviro 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 and others
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With this case study you will see:
- Which are the most important impacts (material issues) Cenviro has identified;
- How Cenviro proceeded with stakeholder engagement, and
- What actions were taken by Cenviro to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Sustainability Report Cenviro identified a range of material issues, such as workplace health and safety, data security and privacy, customer satisfaction, managing emissions and addressing climate change. Among these, creating economic value for its stakeholders stands out as a key material issue for Cenviro.
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 Cenviro engages with:
To identify and prioritise material topics Cenviro engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Shareholders
| · Board Meetings · Town Hall Sessions |
| Government, local authorities and regulators
| · Regular Meetings · Progress Updates · Compliance Reports · Seminars and Forums · Collaboration Programmes · Visits and Inspections · Networking sessions |
| Customers | · Customer Satisfaction Survey · Customer Hotline · Website |
| Media
| · Press Releases · Social Media Platforms |
| Local communities and the public | · Community Programmes
|
| Suppliers and contractors
| · Meetings with Health, Safety, Security and Environment, Procurement Departments · Training programmes · Vendor rating systems |
| Employees
| · Surveys · Safety Briefings · Training · Town Hall Sessions (virtual) |
| Industry and business partners | · Committee and Member Meetings · Collaboration Programmes |
What actions were taken by Cenviro to create economic value for its stakeholders?
In its 2021 Sustainability Report Cenviro reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Cenviro paid 33.08% of RM 173,385 thousand (total value distributed) for salaries and employee-related costs.
- Creating economic value for providers of capital
- In 2021, Cenviro paid 60.62% of RM 173,385 thousand (total value distributed) to providers of capital.
- Creating economic value for the government
- In 2021, Cenviro paid 6.27% of RM 173,385 thousand (total value distributed) to the government (taxation).
- Creating economic value for communities and others
- In 2021, Cenviro spent 0.03% of RM 173,385 thousand (total value distributed) in corporate donations and sponsorships.
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 Cenviro, 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://cenviro.com/wp-content/uploads/2023/05/Sustainability-Report-2021.pdf
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