Case study: How True Group creates economic value for its stakeholders
True Group is Thailand’s fully-integrated telecommunications provider offering mobile, broadband internet, subscription television, content, as well as digital and other telecommunication services. True Group seeks to be the leading digital infrastructure that fully connects people, organisations, economies and societies together, creating sustainable value for all its stakeholders. Tweet This!
This case study is based on the 2020 Sustainability Report by True 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
True Group strives to operate its business to meet the expectations of its stakeholders, including customers, employees, business partners and suppliers, shareholders and creditors, government agencies, and communities and society, generating shared value for all. In order to create economic value for its stakeholders True Group took action to:
- create economic value for employees
- create economic value for providers of capital
- support 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) True Group has identified;
- How True Group proceeded with stakeholder engagement, and
- What actions were taken by True Group 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 2020 Sustainability Report True Group identified a range of material issues, such as cyber security, network reliability & availability, data privacy, corporate governance & business ethics, risk and crisis management. Among these, creating economic value for its stakeholders stands out as a key material issue for True 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 True Group engages with:
| Stakeholder Group | Method of engagement |
| Customers
| · Customer Service Centre · Direct contact with customers · Social media/email · Annual customer satisfaction survey · Suggestions and complaints |
| Employees | · Annual corporate vision meeting · Social media/email · Annual report/sustainability report (website) · Suggestions and complaints · Employee satisfaction and engagement survey (once a year) |
| Business partners and Suppliers
| · Annual meeting · Training for suppliers and activities to build relationship between the company and business partners · Social media/email · Suggestions and complaints · Sustainability report (website) |
| Shareholders and Creditors
| · Quarterly investor briefing · Sustainability report (website) · Social media/email · Suggestions and complaints |
| Government Agencies
| · Listen to and exchange opinions with government agencies on a regular basis · Organise activities with the public sector · Social media/email |
| Communities and Society
| · Sustainability report (website) · Social media/email · Suggestions and complaints · Organise activities with communities |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics True Group conducted an online survey and arranged in-depth interviews with external stakeholders.
What actions were taken by True Group to create economic value for its stakeholders?
In its 2020 Sustainability Report True Group reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2020, True Group paid 12,289 million baht for employee salaries, wages and benefits.
- Creating economic value for providers of capital
- In 2020, True Group spent 3,003 million baht in dividend payments and 9,227 million baht in interest expenses.
- Supporting communities
- In 2020, True Group spent 222.60 million baht in funding for activities benefiting society.
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, IEMA, 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
See upcoming training dates.
References:
This case study is based on published information by True 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://investor.truecorp.co.th/misc/cg_document/20210510-true-sustainability-report-2020-en.pdf
Note to True Group: 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.