Case study: How Systemair creates economic value for its stakeholders
Systemair is a leading ventilation company with operations in more than 50 countries in Europe, North and South America, the Middle East, Asia, South Africa and Australia, developing, manufacturing and marketing high-quality ventilation products. Systemair plays its part in helping to create a sustainable society, generating value for all its stakeholders. Tweet This!
This case study is based on the 2019/20 Annual and Sustainability Report by Systemair, 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
Systemair’s fundamental values – prioritise, simplify and inspire trust – shape its corporate climate and help Systemair make sure it creates sustainable value for every stakeholder. In order to create economic value for its stakeholders Systemair took action to:
- create economic value for employees
- create economic value for the state
- create economic value for financiers
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With this case study you will see:
- Which are the most important impacts (material issues) Systemair has identified;
- How Systemair proceeded with stakeholder engagement, and
- What actions were taken by Systemair to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2019/20 Annual and Sustainability Report Systemair identified a range of material issues, such as business ethics, improved indoor climate, bribery and corruption, health and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for Systemair.
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 Systemair engages with:
| Stakeholder Group |
| Customers |
| Owners and investors |
| Employees |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Systemair engaged with its stakeholders through interviews and a questionnaire-based survey. In all, 1,154 people participated – including 14 customers, 1,131 employees and ten investors – in the survey and three investors were interviewed.
What actions were taken by Systemair to create economic value for its stakeholders?
In its 2019/20 Annual and Sustainability Report Systemair reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2019/20, Systemair paid 2,049 SEK m. for employee wages and benefits.
- Creating economic value for the state
- In 2019/20, Systemair paid 200 SEK m. in tax.
- Creating economic value for financiers
- In 2019/20, Systemair paid 158 SEK m. to financiers.
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 Systemair, 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:
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