Case study: How Enauta creates economic value for its stakeholders
Enauta is one of the largest independent oil and gas field operators in Brazil, with over ten years of experience in the exploration and production of oil and natural gas in the country. Being a sustainable company in the oil and gas sector means, for Enauta, having a long-term vision and generating economic, environmental and social value in an integrated and responsible way.
This case study is based on the 2021 Annual Sustainability Report by Enauta, 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
Generating and sharing sustainable value with its stakeholders, is a top priority for Enauta. Tweet This! In order to create economic value for its stakeholders Enauta took action to:
- create economic value for employees
- create economic value for the state
- create economic value for third parties
- create economic value for society
Subscribe for free and read the rest of this case study
Please subscribe to the SustainCase Newsletter to keep up to date with the latest sustainability news and gain access to over 2000 case studies. These case studies demonstrate how companies are dealing responsibly with their most important impacts, building trust with their stakeholders (Identify > Measure > Manage > Change).
With this case study you will see:
- Which are the most important impacts (material issues) Enauta has identified;
- How Enauta proceeded with stakeholder engagement, and
- What actions were taken by Enauta to create economic value for its stakeholders
Already Subscribed? Type your email below and click submit
What are the material issues the company has identified?
In its 2021 Annual Sustainability Report Enauta identified a range of material issues, such as climate change and energy transition, ethical conduct and legal compliance, diversity and inclusion, community development. Among these, creating economic value for its stakeholders stands out as a key material issue for Enauta.
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 Enauta engages with:
| Stakeholder Group |
| Customers |
| Partners |
| Critical suppliers |
| Investors and other capital market agents |
| Financial sector |
| Regulatory agencies |
| Public authorities |
| Local communities |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Enauta engaged with its stakeholders through a total of 12 interviews and a virtual survey.
What actions were taken by Enauta to create economic value for its stakeholders?
In its 2021 Annual Sustainability Report Enauta reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Enauta paid R$81.0 million in personnel expenses.
- Creating economic value for the state
- In 2021, Enauta paid R$913.2 million in taxes, fees and contributions.
- Creating economic value for third parties
- In 2021, Enauta paid R$239.5 million in remuneration of third-party capital.
- Creating economic value for society
- In 2021, Enauta invested R$13 million in social projects.
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
78% of the world’s 250 largest companies report in accordance with the GRI Standards
SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.
Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.
7 GRI sustainability disclosures get you started
Any size business can start taking sustainability action
GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom (venue: London School of Economics)
- Exclusive FBRH template to begin reporting from day one
- Identify your most important impacts on the Environment, Economy and People
- Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP.
- Benchmarking methodology to set you on a path of continuous improvement
See upcoming training dates.
References:
This case study is based on published information by Enauta, 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.enauta.com.br/en/how-we-operate/annual-sustainability-report/
Note to Enauta: 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.