Case study: How TELUS creates economic value for its stakeholders
TELUS is a world-leading communications technology company with more than $18 billion in annual revenue and 18 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security over its award-winning networks. TELUS’ social purpose drives all areas of its business, to ultimately create long-term, sustainable value for all its stakeholders. Tweet This!
This case study is based on the 2022 Sustainability and ESG Report by TELUS, 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
Through all of its business activities, TELUS seeks to generate sustainable value for employees, suppliers, and all its stakeholders. In order to create economic value for its stakeholders TELUS took action to:
- create economic value for employees
- create economic value for shareholders
- create economic value for suppliers
- create economic value for governments
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With this case study you will see:
- Which are the most important impacts (material issues) TELUS has identified;
- How TELUS proceeded with stakeholder engagement, and
- What actions were taken by TELUS to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2022 Sustainability and ESG Report TELUS identified a range of material issues, such as climate change, human rights, diversity and inclusion, community investment. Among these, creating economic value for its stakeholders stands out as a key material issue for TELUS.
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 TELUS engages with:
| Stakeholder Group | Method of engagement (in 2022) |
| Team members
| · A comprehensive survey uncovered the ESG topics that matter most to TELUS’ team members |
| Academic institutions and NGOs
| · Direct engagement · Forum participation and event attendance with NGO partners such as Thompson Rivers University, Global Compact Network Canada, Canadian Business for Social Responsibility and the Business Renewables Centre Canada |
| Local communities
| · TELUS Community Boards, composed of local leaders, were engaged to make recommendations on funding the projects, places, and people that need TELUS Friendly Future Foundation and TELUS support the most |
| Suppliers
| · Quarterly supplier performance management meetings as well as interviews with critical suppliers and strategic partners to discuss items such as equity, diversity and inclusion and environmental impacts |
| Suppliers | · New product development, as needed · Periodic safety and quality audits |
| Shareholders and debtholders
| · One-on-one meetings · Roadshows · Conferences · Discussions with the Executive Team · Conference calls · Press releases and media relations · Annual General Meeting of shareholders |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics TELUS engaged with its stakeholders through a survey.
What actions were taken by TELUS to create economic value for its stakeholders?
In its 2022 Sustainability and ESG Report TELUS reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2022, TELUS paid $3.5 billion in salaries, benefits and other compensation.
- Creating economic value for shareholders
- In 2022, TELUS paid $1.9 billion in dividends to shareholders.
- Creating economic value for suppliers
- In 2022, TELUS spent $6.3 billion in goods and services purchased.
- Creating economic value for governments
- In 2022, TELUS paid and remitted $2.4 billion in taxes to federal, provincial and municipal governments in Canada.
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 TELUS, 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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