What are the material issues the company has identified? 

In its 2022 Integrated Management Report Repsol identified a range of material issues, such as energy transition strategy and sustainable technologies, integrity, health and prevention of workplace accidents, labour rights and employee satisfaction. Among these, creating economic value for its stakeholders stands out as a key material issue for Repsol.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Repsol engages with:

To identify and prioritise material topics Repsol engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Shareholders and financial community	·      Results presentations ·      Senior management Roadshows Events (AGM, Low Carbon Day)
Customers	·      Commercial network ·      Specialised events and trade fairs ·      Television and social networks ·      Repsol website
Society	·      Social programmes ·      Grievance mechanisms ·      Television ·      Social networks ·      Repsol website
Regulatory bodies and Institutions	·      Forums, seminars and conferences ·      Digital apps (webinars, etc.) ·      Repsol website (queries mailbox)
People in the organisation	·      Presentations or events ·      Intranet and e-mail ·      Trade union representatives
Media and opinion formers	·      Press releases ·      Specific interviews ·      Repsol website ·      Social networks
Companies and business associations	·      Trade negotiations ·      Seminars and conferences ·      Sector associations (OGCI, etc.)
Suppliers and partners	·      Trade negotiations ·      Trade fairs, forums and conferences ·      Digital platforms
Research centre	·      Conferences ·      Digital platforms ·      Seminars and conferences

What actions were taken by Repsol to create economic value for its stakeholders?

In its 2022 Integrated Management Report Repsol reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Repsol paid €1,955 million in personnel expenses.

• Creating economic value for suppliers and contractors
• In 2022, Repsol paid €57,058 million to suppliers and contractors.

• Creating economic value for the public administration
• In 2022, Repsol paid €9,230 million to the public administration.

• Creating economic value for shareholders
• In 2022, Repsol paid €910 million to shareholders.

• Creating economic value for the financial community
• In 2022, Repsol paid €444 million to the financial community.

• Creating economic value for communities
• In 2022, Repsol spent €49 million in community investments.

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, ISEP, 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 Repsol, 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.repsol.com/content/dam/repsol-corporate/en_gb/accionistas-e-inversores/resultados/2022/q4/integrated-management-report-2022.pdf

Note to Repsol: 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.

What are the material issues the company has identified? 

In its 2022 Sustainability Report Aydem Renewables identified a range of material issues, such as climate change, business ethics, disaster and emergency preparedness, employee satisfaction and loyalty. Among these, creating economic value for its stakeholders stands out as a key material issue for Aydem Renewables.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Aydem Renewables engages with:

To identify and prioritise material topics Aydem Renewables engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Employees	·      Idea Line (continuous) ·      Enport Intranet Platform (continuous) ·      Enbülten monthly online communication magazine (monthly) ·      Social events (continuous) ·      Management meetings (continuous) ·      Employee training (continuous) ·      Project group meetings (continuous) ·      IKON app (continuous)
Shareholders and investors	·      Board of Directors meetings (continuous) ·      Committee meetings (once per 3 months) ·      Investor relations web site (continuous) ·      General Assembly meetings (annual) ·      E-mail, phone, and discussions (continuous)
Holding and Group Companies	·      Board of Directors meetings (continuous) ·      General Assembly meetings (annual)
Public Institutions and Local Administrations	·      Sustainability Report (annual) ·      Activity Report (annual) ·      Online and face-to-face meetings (continuous)
Suppliers and Subcontractors	·      Sustainability Report (annual) ·      E-mail, phone, and discussions (continuous) ·      E-procurement (continuous)
Banks and Finance Institutions	·      Online and face-to-face meetings (continuous) ·      Congresses (continuous) ·      Reporting (instant)
Universities and Research Institutions and Consultants	·      Online and face-to-face meetings (continuous) ·      Congresses (continuous)
Independent Audit and Rating Agencies	·      Online and face-to-face meetings (continuous) ·      Congresses (continuous) ·      Reporting (instant)
Unions, Non-Government Organisations, and Industry Associations	·      Sustainability Report (annual) ·      Activity Report (annual) ·      Online and face-to-face meetings (continuous)
Society	·      Meetings and face-to-face discussions (continuous) ·      Projects (instant)
Media	·      Sustainability Report (annual) ·      Activity Report (annual) ·      Press bulletins (continuous) ·      Press meetings and face-to-face discussions (instant) ·      Industry meetings and congresses (continuous)
International Organisations	·      Projects (instant)
Customers	·      Projects (instant)

What actions were taken by Aydem Renewables to create economic value for its stakeholders?

In its 2022 Sustainability Report Aydem Renewables reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Aydem Renewables paid TRY 167,396,789 for employee wages and side benefits.

• Creating economic value for the state
• In 2022, Aydem Renewables paid TRY 587,846,248 in taxes and similar payments to the state.

• Creating economic value for communities
• In 2022, Aydem Renewables spent TRY 876,290 in donations, sponsorship, and corporate responsibility spendings.

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, ISEP, 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 Aydem Renewables, 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.aydemyenilenebilir.com.tr/sustainability

Note to Aydem Renewables: 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.

What are the material issues the company has identified? 

In its 2022 Sustainability Report Aker BP identified a range of material issues, such as anti-corruption, climate adaptation, resilience, and transition, waste and effluents, occupational health and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for Aker BP.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Aker BP engages with:

To identify and prioritise material topics Aker BP engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Employees	·      Internal communication channels ·      Meetings with representatives ·      Town hall events
Investors	·      Financial reporting ·      Investor meetings ·      Annual general meeting
Authorities	·      Contact meetings ·      Reporting ·      Audits
Local communities	·      Formal meetings ·      Public hearings ·      Conferences
NGOs	·      Media monitoring ·      Public hearings ·      Conferences
Suppliers/ contractors	·      Negotiations and contracts ·      Supplier events ·      Audits
Partners	·      Industry meetings ·      Working groups ·      Negotiations

What actions were taken by Aker BP to create economic value for its stakeholders?

In its 2022 Sustainability Report Aker BP reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Aker BP paid 397 million USD for employee wages and benefits.

• Creating economic value for shareholders
• In 2022, Aker BP paid 1,006 million USD in dividends to shareholders.

• Creating economic value for suppliers
• In 2022, Aker BP paid 2,714 million USD for goods and services.

• Creating economic value for the government
• In 2022, Aker BP paid 5,454 million USD in taxes and payments to the government.

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, ISEP, 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 Aker BP, 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://akerbp.com/wp-content/uploads/2023/03/aker-bp-sustainability-report-2022.pdf

Note to Aker BP: 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.

What are the material issues the company has identified? 

In its 2023 Sustainability Report Vermilion identified a range of material issues, such as energy transition, regulatory issues, personal safety, emissions reduction, ethical behaviour. Among these, creating economic value for its stakeholders stands out as a key material issue for Vermilion.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Vermilion engages with:

To identify and prioritise material topics Vermilion engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Current and Potential Investors	·      Annual General Meeting and webcast, distribution of annual report & proxy statement ·      Annual benchmarking against peers through Globe and Mail Board Games ·      Business updates, analyst conference calls ·      Ongoing presentations to investor and industry conferences, with webcasts posted on external Vermilion website and intranet ·      Ongoing monitoring of and response to investor relations e-mail and phone inquiries ·      Ongoing monitoring of and response to social media including ·      Media monitoring/ media appearances ·      News releases ·      Engagement on sustainability-related queries from ESG investment agencies, potential investors and current shareholders ·      Feedback for TCFD and SASB/ISSB proposed changes, directly and via industry groups
Partners and Suppliers	·      HSE Pre-qualification screening and auditing of operations to ensure compliance ·      Safety meetings, including both Vermilion staff and Vermilion’s contractors and partners ·      Contractor briefings from Vermilion staff on expected standards of behaviour, including Vermilion’s Code of Business Conduct and its Anti-Discrimination and Harassment Policy ·      Meetings, etc. to review requirements and negotiate contracts, as needed ·      Daily operations, including inspections and field audits ·      Meetings, phone calls, e-mails as issues or concerns arise
Employees	·      Individual ·      Great Place to Work® programme confidential staff survey, communication of results to staff through e-mails and meetings, ongoing engagement of staff in feedback and improvement action planning meetings from department to team levels ·      Global town halls, with executive question-and-answer sessions based on questions submitted anonymously in advance, or during the meeting ·      Additional confidential staff surveys on topics such as HSE (Perception Survey), compensation and strategic community investment (choices of non-profit partners, activities, etc.) ·      Additional town halls in each of Vermilion’s business units with leadership question-and-answer sessions ·      Extensive annual lunch and learn programme with company, industry and wellness topics ·      Whistleblower policy, 24/7 (referred to internally as “Reporting of Inappropriate Activity”) ·      Company-wide working groups established to refresh Vermilion’s strategic plan
Communities	·      HSE Pre-qualification screening and auditing of operations to ensure compliance ·      Safety meetings, including both Vermilion staff and Vermilion’s contractors and partners ·      Briefings from Vermilion staff on expected standards of behaviour, including Vermilion’s Code of Business Conduct and its Anti-Discrimination and Harassment Policy ·      Meetings, etc. to review requirements and negotiate contracts, as needed ·      Daily operations, including inspections and field audits ·      Meetings, phone calls, e-mails as issues or concerns arise
Governments and Regulators	·      Regulatory requirements in all of Vermilion’s locations ·      Meetings, phone calls, conferences with government officials ·      Government-Industry working groups
NGOs: Industry, Environment, Social	·      Ongoing participation in industry meetings and conferences ·      High-level review of NGO positions and topics ·      Meetings with NGO representatives

What actions were taken by Vermilion to create economic value for its stakeholders?

In its 2023 Sustainability Report Vermilion reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Vermilion paid $ 193,707 million for employee wages and benefits.

• Creating economic value for governments
• In 2022, Vermilion paid $ 449,330 million in taxes.

• Creating economic value for communities
• In 2022, Vermilion spent $ 2,046 million in community investments.

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, ISEP, 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 Vermilion, 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.vermilionenergy.com/sustainability/wp-content/uploads/sites/6/2023/08/2023-Full-Sustainability-Report-compressed.pdf

Note to Vermilion: 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.

What are the material issues the company has identified?

In its 2022 ESG Report ARC Resources identified a range of material issues, such as business ethics and corporate governance, GHG emissions, talent attraction, retention and engagement, indigenous peoples’ rights. Among these, creating economic value for its stakeholders stands out as a key material issue for ARC Resources.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 ARC Resources engages with:

Stakeholder Group

Employees

Senior leaders

Customers

Regulators

Investors

 How stakeholder engagement was made to identify material issues

To identify and prioritise material topics ARC Resources engaged with its stakeholders through interviews, focus group discussions, and surveys.

What actions were taken by ARC Resources to create economic value for its stakeholders?

In its 2022 ESG Report ARC Resources reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, ARC Resources paid $ 259.7 million to employees.

• Creating economic value for suppliers
• In 2021, ARC Resources paid $ 2,246.2 million to suppliers.

• Creating economic value for providers of capital
• In 2021, ARC Resources paid $ 314.8 million to providers of capital.

• Creating economic value for governments
• In 2021, ARC Resources paid $ 568.6 million to governments.

• Creating economic value for landowners
• In 2021, ARC Resources paid $ 3.2 million to landowners.

• Creating economic value for communities
• In 2021, ARC Resources paid $ 1.7 million to communities.

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, ISEP, 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 ARC Resources, 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.responsibilityreports.com/HostedData/ResponsibilityReportArchive/a/TSX_ARX_2022.pdf

Note to ARC Resources: 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.

What are the material issues the company has identified?  

In its FY 2021-22 Sustainability Report BPCL identified a range of material issues, such as compliance and governance, energy use and transition, product security, efficient water management. Among these, creating economic value for its stakeholders stands out as a key material issue for BPCL.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 BPCL engages with:

Stakeholder Group	Method of engagement
Customers	·      Customer Meeting ·      Customer Satisfaction Survey ·      Online communication ·      Customer feedback Satisfaction survey ·      Customer Meeting
Communities and NGOs	·      Project reviews are undertaken periodically ·      Interaction with community focus groups
Dealers and Distributors	·      Award Functions ·      Meetings and training sessions ·      Individual Interactions with Dealers and Distributors
Employees	·      Performance appraisal ·      Training, Wellness programmes, online Communication ·      Personal Interaction
Government and Regulators	·      Memorandum of Understanding with Regulators ·      Meetings with Regulators ·      Meetings for new policy developments and Ministry Directives
Shareholders and Investors	·      Annual General Meeting (AGM) for shareholders ·      Quarterly reports ·      Quarterly investor meets ·      Press Releases ·      Investor Meetings
Suppliers and Contractors	·      Contractors ·      Vendor meets ·      Inspection visits to facility, emails and phone calls ·      Vendor Meets
Media and NGOs	·      One-on-one interactions ·      Direct contact during activities ·      Social surveys

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics BPCL engaged with its stakeholders through an online survey.

What actions were taken by BPCL to create economic value for its stakeholders?

In its FY 2021-22 Sustainability Report BPCL reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In FY 2021-22, BPCL paid INR 3,468.84 Crores for employee wages and benefits.

• Creating economic value for providers of capital
• In FY 2021-22, BPCL paid INR 16,351.21 Crores to providers of capital.

• Creating economic value for governments
• In FY 2021-22, BPCL paid INR 75,370.98 Crores to governments.

• Creating economic value for communities
• In FY 2021-22, BPCL spent INR 166.73 Crores in community investments.

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, ISEP, 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 BPCL, 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.bharatpetroleum.in/images/files/SustainabilityReport21-22.pdf

Note to BPCL: 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.

What are the material issues the company has identified?  

In its 2022 A Just Transition and Sustainability performance reports Eni identified a range of material issues, such as combatting climate change, diversity, inclusion and work-life balance, circular economy, health and safety of workers. Among these, creating economic value for its stakeholders stands out as a key material issue for Eni.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Eni engages with:

Stakeholder Group	Method of engagement
Eni’s people and national and international unions	·      Professional and training paths on emerging skills related to business strategies and entrepreneurship development ·      Training initiatives to support inclusion and recognition of the value of all kinds of diversity ·      Climate analysis to collect employees’ opinions about the company ·      International initiatives to support team building, mobility and training to foster internationality ·      Finalisation and/or signing of agreements with trade unions, including the one for Smart Working in Italy and gradual extension abroad, for Eni people’s well-being initiatives, the 2022-2023 expansion contract and renewal of the sector’s collective bargaining agreements
Financial community	·      Capital Markets Day (2022-25 Strategic plan and long-term Plan to 2050) and virtual Roadshow on the main financial exchanges ·      Roadshows with investors and proxy advisors on executive remuneration ·      Conference call on the quarterly results ·      Participation of Top Management in thematic conferences organised by banks ·      Participation in theme conferences and ongoing engagement with institutional investors and leading ESG rating agencies
Local communities and community based organisations	·      Consult with local Authorities and communities for new exploration activities and/or the development of new business projects and local development projects ·      Consult with communities and other stakeholders in Countries where impact studies were conducted, including Social and Human Rights Impact Assessments ·      Manage requests and grievances from local communities ·      Regular communication on project progress and workshops on Local Content opportunities ·      Awareness-raising campaigns in local communities on health issues and the use of improved cook stoves
Contractors, suppliers and commercial partners	·      Awareness-raising initiatives and supplier involvement in thematic webinars, workshops, and educational and informational events to foster widespread sustainability awareness throughout the supply chain ·      Expansion of the Open-es community, strengthening the initiative with more development tools and services, and providing a training program open to all companies on ESG priority topics ·      Human Rights Due Diligence: extending the application of the risk-based model to prevent and mitigate risks in the entire supply chain ·      Basket bond – Sustainable Energy program, an innovative finance instrument addressing Eni’s suppliers and the energy chain, to provide access to financial resources for projects aimed at sustainable development
Customers and consumers	·      Meetings and workshops with Presidents, General Secretaries and Energy Managers of national and local Consumer Associations (CAs) on energy transition issues and business initiatives ·      Territorial meetings with regional Consumer Associations of the National Council of Consumers and Users and sponsoring of the CAs initiatives on various sustainability topics ·      Listening to consumers, customers and involving CAs for product insights, service evaluation and monitoring to improve satisfaction, quality and corporate positioning ·      Presentation to the CA of results, objectives and future strategies for developing and implementing customer centricity
National, European and international institutions	·      Participation in joint commissions, meetings and round tables with local, national, European and international institutions and organisations on business, geopolitical and energy scenarios, including decarbonisation, agribusiness, sustainable development, etc. ·      Representation of Eni’s position on energy transition and decarbonisation in public events and the main international multilateral fora (e.g. G20, B20, COP27) ·      Institutional engagement and dialogue within the context of partnerships and memberships with national, European and international think tanks and associations and with international bodies and/or European institutions on energy transition, environment and sustainable mobility ·      Presentation of projects, visits by associations and national institutional and political delegations at industrial plants, operational sites and research centres
Universities, research centres and innovation hubs	·      Research agreements with the Universities of Milan – Bicocca and Pisa, and ENEA for energy transition and decarbonisation ·      Continuation of cooperation activities with a) Politecnico of Milan and Turin; Universities of Bologna, Naples, Pavia, Padua, and Pisa; MIT, CNR, INSTM Consortium, ENEA and INGV; b) with CNR for four joint research centres for environmental and economic development. Training collaborations with: LUISS University, IULM University, Rome Tre University, and University of Florence ·      Establishment of a Joint Laboratory with the University of Bologna for new energy transition technologies ·      Participation as a founding member within the PNRR in four National Research Centres and two Innovation Ecosystems ·      Present in major national and international innovation hubs, agreements with innovation brokers, start up incubators and accelerators
Voluntary advocacy and category organisations and industry associations	·      Membership and participation in OGCI, IETA, WEF, IPIECA, IOGP, WBCSD, UN GLOBAL COMPACT, EITI, The Council for Inclusive Capitalism, Energy Compact and collaborations with international human rights institutions ·      Conferences, debates, events and training initiatives on sustainability topics; development of guidelines and sharing of best practices, capacity building for carbon credit generation and use ·      Meetings with regional and professional business associations for the sustainable Supply Chain and energy topics, and supporting lines of business by verifying common positions and decarbonisation studies ·      Collaboration agreement with Confindustria for the 4th Circular Economy Best Performer Competition and the 2nd Circular Bootcamp
Organisations for development cooperation	·      Consolidate the development activities conducted in Countries with cooperation organisations through collaboration/partnership agreements. Agreements were signed with UNIDO and UNESCO; national cooperation bodies and agencies such as AICS, EGPC, the Nabeul Governorate (Tunisia) and SETAB; civil society organisations; and private sector organisations such as Centro Cardiologico Monzino IRCCS, CNH Industrial and Iveco Group. ·      Collaborations continued with UNDP, USAID; financial institutions such as World Bank, CDP and Standard Bank; ministries of health of host Countries; and civil society organisations

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Eni engaged with its stakeholders through a questionnaire.

What actions were taken by Eni to create economic value for its stakeholders?

In its 2022 A Just Transition and Sustainability performance reports Eni reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, Eni paid € 3,015 million for employee wages and salaries.

• Creating economic value for capital suppliers
• In 2022, Eni paid € 6,419 million to capital suppliers.

• Creating economic value for the public administration
• In 2022, Eni paid € 8,488 million to the public administration.

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, ISEP, 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 Eni, 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.eni.com/en-IT/just-transition/business-model.html

Note to Eni: 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.

What are the material issues the company has identified?  

In its 2022 Consolidated Non-Financial Statement ERG identified a range of material issues, such as climate action, governance, HSE and employees’ care, D&I and human rights. Among these, creating economic value for its stakeholders stands out as a key material issue for ERG.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 ERG engages with:

Stakeholder Group	Method of engagement
Institutions	·      Dedicated meetings, round tables and conferences
Shareholders and the Financial Community	·      Shareholders’ Meeting ·      Webcasts ·      Press releases ·      Roadshows ·      Events related to the presentation of the Business Plan and the ESG Plan ·      Continuous dialogue with shareholders and investors in general (Shareholder Engagement Policy)
People and trade union organisations	·      Activities and tools for training, assessment and internal communication ·      Question time, group meetings, Christmas parties, family days, team building
Local Communities	·      Meetings with local communities in line with ERG’s business ·      Education projects for future generations on renewable energy and digitalisation
Future generations	·      Information and education projects for future generations on renewable energy and digitalisation
Media	·      Press releases to disclose the Group’s Financial Statements, Business Plan and business activities
Suppliers	·      Web platform ·      Involvement and monitoring on occupational safety and sustainability issues
Partners	·      Conferences ·      Face-to-face meetings ·      Digital meetings
Customers	·      Analysis and sharing of requirements with customers and drafting of contracts (e.g., PPA – Power Purchase Agreement) and/or ‘ad hoc’ solutions

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics ERG engaged with its stakeholders through a survey.

What actions were taken by ERG to create economic value for its stakeholders?

In its 2022 Consolidated Non-Financial Statement ERG reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2022, ERG paid EUR 62 million for staff remuneration and EUR 82 million for remuneration of personnel.

• Creating economic value for lenders and shareholders
• In 2022, ERG paid EUR 29 million in interest paid and other financial expense to service debt and EUR 139 million in dividends.

• Creating economic value for the community
• In 2022, ERG paid EUR 2 million in remuneration for 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

 

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, ISEP, 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 ERG, 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.erg.eu/c/document_library/get_file?uuid=be09833d-dd28-95a5-87b9-8795335235bb&groupId=10181&version=1.0

Note to ERG: 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.

What are the material issues the company has identified?  

In its 2021 Annual Report Omega identified a range of material issues, such as ethics, integrity and compliance, innovation and business resilience, attracting, developing and retaining employees, energy efficiency, socio-environmental responsibility. Among these, creating economic value for its stakeholders stands out as a key material issue for Omega.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Omega engages with:

Stakeholder Group	Method of engagement
Clients	·      Customer relationship chat service ·      Telephone interactions ·      Email, social media and commercial meetings ·      Customer service ·      Customer help desk ·      Events ·      Confidential Hotline
Communities	·      In-person interaction ·      Email ·      Telephone interaction ·      WhatsApp messaging and discussion forums (Eg. Diálogos project – MA)
Suppliers and business partners	·      Meetings and conference calls with suppliers ·      Ombudsman channel ·      Supplier service channel ·      Events ·      Confidential Hotline and Unsafe Conditions Reporting Channel
Government, regulators and Environmental agencies	·      Strategic, political, institutional and technical meetings ·      Working groups and events ·      Advocacy through trade associations
Media	·      Email ·      Responses to media queries and requests for interviews ·      with Omega Energia executives and information about Omega’s business and operations
Investors and financiers	·      Telephone interaction ·      IR email messages ·      IR website ·      General meetings ·      Virtual meetings ·      Conferences ·      Webinars ·      Roadshows ·      Earnings calls ·      Online surveys
Trade associations	·      Discussion forums ·      Meetings ·      Letters ·      Email ·      Telephone interaction ·      Participation in public hearings and publication of technical papers
The Omega Energia Team/ Co-entrepreneurs	·      Internal communications (Workplace, Teams) ·      Workshops ·      Mentoring ·      Online surveys ·      Events ·      Service channel for Omega’s team ·      Confidential Hotline and Unsafe Conditions Reporting Channel

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Omega engaged with its stakeholders through online questionnaires and interviews.

What actions were taken by Omega to create economic value for its stakeholders?

In its 2021 Annual Report Omega reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, Omega paid R$ 39.2 million in employee costs.

• Creating economic value for the government
• In 2021, Omega paid R$ 206.5 million to the government.

• Creating economic value for financiers/third parties
• In 2021, Omega paid R$ 743.1 million to financiers/third parties.

• Creating economic value for shareholders
• In 2021, Omega paid R$ 296.9 million to shareholders.

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, ISEP, 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 Omega, 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://omega-public-assets.s3.sa-east-1.amazonaws.com/documentos/Sustainability+Report+2021.pdf

Note to Omega: 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.

What are the material issues the company has identified?

In its 2021 Annual Report Fingrid identified a range of material issues, such as climate change, reliability and security of the electricity system, business ethics and compliance, occupational safety. Among these, creating economic value for its stakeholders stands out as a key material issue for Fingrid.

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:

“The reporting organization shall identify its stakeholders, and explain how it has responded to their reasonable expectations and interests.”

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 Fingrid engages with:

Stakeholder Group

Owners and financers

Customers

Personnel

Policymakers

Authorities and NGOs

Contractors and service providers

Landowners and neighbours

Other partners

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Fingrid engaged with its stakeholders through surveys.

What actions were taken by Fingrid to create economic value for its stakeholders?

In its 2021 Annual Report Fingrid reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In 2021, Fingrid paid € 39,363 thousand for personnel remuneration.

• Creating economic value for suppliers
• In 2021, Fingrid paid € 810,173 thousand to service and equipment suppliers and electricity market parties.

• Creating economic value for providers of capital
• In 2021, Fingrid paid € 147,009 thousand to providers of capital.

• Creating economic value for the government and communities
• In 2021, Fingrid paid € 33,273 thousand in taxes, contributions and sponsoring.

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, ISEP, 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 Fingrid, 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.fingrid.fi/globalassets/dokumentit/en/annual-report/2021/fingrid_oyj_corporate_responsibility_and_sustainable_development_2021.pdf

Note to Fingrid: 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.