Case study: How the Burgo Group creates economic value for its stakeholders
With over 3,125 employees operating in 11 plants, Burgo Group S.p.A. is the industrial holding of a Group operating in the paper production and distribution sector, mainly in the graphic paper segment and the cardboard and specialty papers segments. The Burgo Group seeks to generate value with the aim of benefiting all the people who are part of the Group, as well as the local communities in which the Group has the opportunity to develop.
This case study is based on the 2021 Sustainability Report by the Burgo Group, 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 2021, the economic value generated by the Burgo Group reached € 1,809 million. Tweet This! In order to create economic value for its stakeholders the Burgo Group took action to:
- create economic value for employees
- create economic value for equity providers
- create economic value for local authorities
- create economic value for communities
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With this case study you will see:
- Which are the most important impacts (material issues) the Burgo Group has identified;
- How the Burgo Group proceeded with stakeholder engagement, and
- What actions were taken by the Burgo Group to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Sustainability Report the Burgo Group identified a range of material issues, such as good corporate governance, risk management, occupational health and safety, respect and protection of the environment. Among these, creating economic value for its stakeholders stands out as a key material issue for the Burgo Group.
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 the Burgo Group engages with:
| Stakeholder Group | Method of engagement |
| Shareholders
| · Website · Dedicated meetings · Financial statements · Sustainability report · Social Network |
| Institutions | · Website · Dedicated meetings · Direct contacts |
| Customers and suppliers
| · Sustainability report · Financial statements · Website · Dedicated meetings · Social Network |
| The community
| · Sustainability report · Financial statements · Website · Dedicated meetings · Social Network |
| People of the Burgo Group
| · Sustainability report · Website · Dedicated meetings · Walls · Newsletters · Social network |
| Financial community
| · Sustainability report · Website · Social Network |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics the Burgo Group engaged with its stakeholders through an online survey.
What actions were taken by the Burgo Group to create economic value for its stakeholders?
In its 2021 Sustainability Report the Burgo Group reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, the Burgo Group paid €/000 177,965 for employee salaries and benefits.
- Creating economic value for equity providers
- In 2021, the Burgo Group paid €/000 12,170 to equity providers.
- Creating economic value for local authorities
- In 2021, the Burgo Group paid €/000 16,407 to local authorities.
- Creating economic value for communities
- In 2021, the Burgo Group spent €/000 106 in investments in the community.
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 the Burgo Group, 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.burgo.com/sites/default/files/bilanci/bg_csr_2021_en_0.pdf
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