Case study: How Webuild creates economic value for its stakeholders
Webuild is a leading global player in the construction of large, complex projects for sustainable mobility, hydropower, water and green buildings. In 2021, the economic value generated by the Webuild Group, i.e., the total wealth created for its stakeholders, amounted to €6,499 million (€4,950 million in 2020), of which 99% was distributed to suppliers, employees, investors and lenders, public administration and local communities.
This case study is based on the 2021 Consolidated Non-financial Statement by Webuild, 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.
Webuild has always engaged with its stakeholders in a transparent and ongoing manner, generating sustainable value for all. Tweet This! In order to create economic value for its stakeholders Webuild took action to:
- create economic value for employees
- create economic value for suppliers
- create economic value for lenders
- create economic value for the state
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With this case study you will see:
- Which are the most important impacts (material issues) Webuild has identified;
- How Webuild proceeded with stakeholder engagement, and
- What actions were taken by Webuild to create economic value for its stakeholders
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What are the material issues the company has identified?
In its 2021 Consolidated Non-financial Statement Webuild identified a range of material issues, such as health, safety and welfare, ethics and integrity, excellence and innovation, human rights, anti-corruption. Among these, creating economic value for its stakeholders stands out as a key material issue for Webuild.
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 s 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 Webuild engages with:
| Stakeholder Group |
| Employees & Trade unions |
| Shareholders & Investors |
| Clients & Potential clients |
| Suppliers, contractors, subcontractors & partners |
| Local communities & NGO |
| Governments & public administrations |
| Sector associations & media |
How stakeholder engagement was made to identify material issues
To identify and prioritise material topics Webuild engaged with its stakeholders through two separate surveys, one for middle management and one for employees, clients, suppliers, investors, NGOs and ESG experts.
What actions were taken by Webuild to create economic value for its stakeholders?
In its 2021 Consolidated Non-financial Statement Webuild reports that it took the following actions for creating economic value for its stakeholders:
- Creating economic value for employees
- In 2021, Webuild paid €1,102 million to employees (remuneration and benefits).
- Creating economic value for suppliers
- In 2021, Webuild paid €4,881 million to suppliers (operating costs).
- Creating economic value for lenders
- In 2021, Webuild paid €308 million to lenders.
- Creating economic value for the state
- In 2021, Webuild paid €134 million to the public administration (taxes).
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 Webuild, 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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