Case study: How Löfbergs creates economic value for its stakeholders
Löfbergs is one of the Nordic region’s biggest family-owned coffee businesses, with a production that corresponds to 10 million cups of tasty coffee a day. To stay relevant for the world and to reach its goals, Löfbergs is continuously engaging with its stakeholders, creating sustainable value for all.
This case study is based on the 2020/2021 Sustainability Report by Löfbergs, 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.
Long-term value generation for all its stakeholders, as well as doing good for people and the environment, has always been a top priority for Löfbergs. Tweet This! In order to create economic value for its stakeholders Löfbergs took action to:
- create economic value for employees
- create economic value for providers of capital
- create economic value for the public sector
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) Löfbergs has identified;
- How Löfbergs proceeded with stakeholder engagement, and
- What actions were taken by Löfbergs to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2020/2021 Sustainability Report Löfbergs identified a range of material issues, such as climate impact and adaptation, diversity and inclusion, environmental compliance, business ethics and anti-corruption. Among these, creating economic value for its stakeholders stands out as a key material issue for Löfbergs.
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 s 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 Löfbergs engages with:
To identify and prioritise material topics Löfbergs engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Market & Society – Consumers – Authorities – NGOs – Society | · Consumer contact and surveys · Meetings · Events · Workshops · Seminars · Projects · Inspections and audits |
| Organisation – Unions – Co-workers – Managers – Board of directors | · Employee surveys · Meetings · Events · Workshops · Seminars · Trainings · Negotiations · Counselling · Inspections |
| Partners & Suppliers – Customers – Networks – Banks, credit institutions – Trade associations – Certification bodies – Suppliers and traders | · Customers surveys · Customer centre · Meetings · Visits · Events · Workshops · Seminars · Trainings · Courses · Projects · Revisions and inspections |
| Owners
| · Owners council · Meetings · Visits · Surveys |
What actions were taken by Löfbergs to create economic value for its stakeholders?
In its 2020/2021 Sustainability Report Löfbergs reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In the financial year 1 July 2020 to 30 June 2021, Löfbergs paid SEK 227,466 thousand for employee salaries and remuneration.
- Creating economic value for providers of capital
- In the financial year 1 July 2020 to 30 June 2021, Löfbergs paid SEK 11,248 thousand to providers of capital.
- Creating economic value for the public sector
- In the financial year 1 July 2020 to 30 June 2021, Löfbergs paid, in tax, SEK 2,598 thousand to the public sector in Sweden, SEK 1,556 thousand to the public sector in Denmark, SEK 1,333 thousand to the public sector in Norway, and SEK 51 thousand to the public sector in Latvia.
- Creating economic value for communities
- In the financial year 1 July 2020 to 30 June 2021, Löfbergs spent SEK 7,700 thousand in community 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 Löfbergs, 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.lofbergs.ee/wp-content/uploads/2021/12/loofbergs-sustainability-report-2020-2021.pdf
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