Case study: How SIX creates economic value for its stakeholders
SIX is Europe’s third-largest exchange group, providing and operating stable and efficient infrastructure for the Swiss and Spanish financial centres, ensuring access to the capital markets and the flow of information and money between financial market players. At the core of SIX’s sustainability agenda is creating long-term value for its clients and all its stakeholders Tweet This!, and positive impacts for the communities it serves.
This case study is based on the 2022 Sustainability Report by SIX, 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 direct economic value generated by SIX reached CHF 1,564.2 million. In order to create economic value for its stakeholders SIX 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
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) SIX has identified;
- How SIX proceeded with stakeholder engagement, and
- What actions were taken by SIX 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 2022 Sustainability Report SIX identified a range of material issues, such as ESG products and services development, climate change and greenhouse gas emissions, talent acquisition and retention. Among these, creating economic value for its stakeholders stands out as a key material issue for SIX.
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 SIX engages with:
| Stakeholder Group |
| Owners and clients (financial institutions) |
| Employees |
| Regulatory and supervisory authorities |
| Political parties and government representatives |
| Suppliers |
| Industry associations |
| Academia |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics SIX engaged with its stakeholders through interviews and a survey.
What actions were taken by SIX to create economic value for its stakeholders?
In its 2022 Sustainability Report SIX reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, SIX paid CHF 610.1 million for employee wages and benefits.
- Creating economic value for providers of capital
- In 2022, SIX paid CHF 144.0 million to providers of capital.
- Creating economic value for the government
- In 2022, SIX paid CHF 96.1 million to the government.
- Creating economic value for communities
- In 2022, SIX spent CHF 1.1 million 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
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
References:
This case study is based on published information by SIX, 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.six-group.com/dam/download/company/report/annual/2022/six-sustainability-report-2022.pdf
Note to SIX: 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.