Case study: How NEINVER creates economic value for its stakeholders
NEINVER is a Spanish multinational company specialised in property development, investment and management. Founded in 1969, NEINVER manages 17 outlet centres and 4 retail parks and over 800 brands in six European countries: France, Germany, Italy, Poland, Spain and the Netherlands. Maximising value creation for all of its stakeholders, is a top priority for NEINVER. Tweet This!
This case study is based on the 2021 Annual Report by NEINVER, 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
NEINVER seeks to create shared value, as reflected by the distribution of economic benefits among its various stakeholders: to suppliers through operating costs, to employees through salaries and social benefits, to financial institutions through financial costs and to the public sector through taxes and licence fees. In order to create economic value for its stakeholders NEINVER took action to:
- create economic value for employees
- create economic value for suppliers
- create economic value for providers of capital
- create economic value for governments
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With this case study you will see:
- Which are the most important impacts (material issues) NEINVER has identified;
- How NEINVER proceeded with stakeholder engagement, and
- What actions were taken by NEINVER to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Annual Report NEINVER identified a range of material issues, such as legal compliance, operational performance, anticorruption, bribery and fraud, adaptation to market needs. Among these, creating economic value for its stakeholders stands out as a key material issue for NEINVER.
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 NEINVER engages with:
To identify and prioritise material topics NEINVER engaged with its stakeholders through the following channels:
| Stakeholder Group | Method of engagement |
| Investors and joint venture partners
| · Annual reports · Regular reporting on the performance of shared assets · Regular meetings with senior company management and centre managers · Website and media |
| Employees
| · Intranet · Executive leadership emails · Personal interviews, briefings between management and teams · Professional development and trainings · Surveys |
| Tenants
| · Performance reports · Satisfaction surveys · Regular contact at centre and corporate level · Bulletin boards and extranet · Complaints and claims system · Mystery shopper |
| Consumers
| · The Style Outlets websites and newsletters to inform on product, promotions and activities · Guest Services direct interactions · Satisfaction surveys · Customer service systems and mechanisms for receiving suggestions (onsite and on-line) · Operational screens (MUPI) · Social media monitoring and engagement · Information through the media |
| Society
| · Meetings with the main socioeconomic players in each area · Collaboration and sponsorship at cultural activities and events · Social media, media and information points at the centres · Channels for sharing complaints and suggestions |
| Government and local authorities
| · Regular contact with local and regional authorities · Regular inspections · Industry events and meetings |
| Industry
| · Participation in national and international sector conferences, events and fairs · Presence in the steering committees of sector organisations · Participation in industry reports |
| Suppliers
| · On-line occupational risk prevention platform for suppliers · Coordination meetings |
| Financial bodies
| · Regular reports and annual accounts. · Regular meetings |
What actions were taken by NEINVER to create economic value for its stakeholders?
In its 2021 Annual Report NEINVER reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, NEINVER paid €17,2 million for employee salaries and benefits.
- Creating economic value for suppliers
- In 2021, NEINVER paid €44,6 million to suppliers.
- Creating economic value for providers of capital
- In 2021, NEINVER paid €8,6 million to providers of capital.
- Creating economic value for governments
- In 2021, NEINVER paid €4,8 million to governments.
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 NEINVER, 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.neinver.com/wp-content/uploads/2023/08/2021-Annual-Report_ok.pdf
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