GRI-203 Archives - SustainCase - Sustainability Magazine https://sustaincase.com/category/gri-standards/gri-203/ Insights on how you can protect the environment, maintain and increase the value of your company, through a structured CSR/Sustainability process with the use of the GRI Standards. Learn how Today's Best-Run Companies are achieving Economic, Social, and Environmental Success - and How You Can Too... Mon, 06 Mar 2023 09:55:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Equitrans creates economic value for its stakeholders https://sustaincase.com/case-study-how-equitrans-creates-economic-value-for-its-stakeholders/ Wed, 06 Apr 2022 06:06:33 +0000 https://ccprowebs.com/new-sustaincase.com/?p=13455 Equitrans Midstream Corporation (Equitrans) is a publicly traded midstream services company with a premier asset footprint across the Appalachian Basin in Pennsylvania, Ohio, and West Virginia. , all of which positively contribute to the U.S. economy and local economies. This case study is based on the 2020 Corporate Sustainability Report by Equitrans published on the Global Reporting Initiative Sustainability Disclosure Database 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 […]

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]]> Equitrans Midstream Corporation (Equitrans) is a publicly traded midstream services company with a premier asset footprint across the Appalachian Basin in Pennsylvania, Ohio, and West Virginia. Equitrans delivers clean, affordable domestic energy, supports economic development in local communities, creates jobs and generates tax revenue to support state and local governments  Tweet This!, all of which positively contribute to the U.S. economy and local economies.

This case study is based on the 2020 Corporate Sustainability Report by Equitrans published on the Global Reporting Initiative Sustainability Disclosure Database 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

Equitrans creates value for its shareholders as well as the communities in which it operates and is proud of the beneficial economic impact it has on these communities, through factors such as job creation and tax revenue generation. In order to create economic value for its stakeholders Equitrans took action to:

  • contribute to the national economy
  • support ancillary jobs
  • generate tax revenue

What are the material issues the company has identified?

In its 2020 Corporate Sustainability Report Equitrans identified a range of material issues, such as air emissions and climate change, business ethics and integrity, occupational health and safety, diversity and inclusion. Among these, creating economic value for its stakeholders stands out as a key material issue for Equitrans.

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 Equitrans engages with:

Stakeholder Group
Community Members
Contractors
Financial Research Analysts
First Responders
Government Officials and Agencies
Landowners
Shareholders
Suppliers

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Equitrans used a third-party ESG (environmental, social and governance) risk management software platform to collect and evaluate evidence from key external stakeholders (e.g. customers, administrators/standards, investors, non-governmental organisations, and suppliers).

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

In its 2020 Corporate Sustainability Report Equitrans reports that it took the following actions for creating economic value for its stakeholders:

  • Contributing to the national economy
  • In 2019, Equitrans contributed $2.66 billion in value-added contributions to the United States Gross Domestic Product (GDP), excluding activities related to the Mountain Valley Pipeline (MVP). For Equitrans’ business, 54.7 percent of this contribution is a result of its operational activities in its three primary operating states of Pennsylvania, Ohio, and West Virginia, with another 4.3 percent coming from operations elsewhere in the United States. The remaining 41.1 percent of Equitrans’ contribution is associated with its business with suppliers that provide the products and services Equitrans utilises in its operations. Equitrans’ direct business activities contributed $470 million to the GDP, while its indirect impact as a result of its business with its suppliers contributed $532 million to the GDP. Lastly, Equitrans’ total induced economic impact, or the personal spending of its employees, contractors, and suppliers, contributed $1,656 million to the GDP.
  • Supporting ancillary jobs
  • Equitrans’ business activities supported 33,100 ancillary jobs in 2019, excluding any ancillary jobs related to the MVP project, in addition to its own 801 employees as of year-end 2019. These ancillary jobs include people who contribute to the successful operation of construction projects as well as Equitrans’ gathering, transmission and storage, and water services as contractors and suppliers.
  • Generating tax revenue
  • Equitrans’ business generated millions in state and local tax revenues in 2019, excluding taxes related to the MVP project. These generated revenues support state and local governments and public resource enhancing operations, such as road construction and maintenance, and school funding.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 201-1 Direct economic value generated and distributed

2) Disclosure 203-2 Significant indirect economic impacts

Disclosure 201-1 Direct economic value generated and distributed corresponds to:

Disclosure 203-2 Significant indirect economic impacts corresponds to:

 

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:

1) This case study is based on published information by Equitrans, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Equitrans: 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.

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]]> Case study: How WBA empowers young people across the globe https://sustaincase.com/case-study-how-wba-empowers-young-people-across-the-globe/ Fri, 17 Sep 2021 06:06:40 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12903 Walgreens Boots Alliance (WBA) is a global leader in retail and wholesale pharmacy, with a presence in more than 25 countries and a pharmaceutical wholesale and distribution network with more than 400 distribution centres. This case study is based on the 2019 Corporate Social Responsibility Report by WBA published on the Global Reporting Initiative Sustainability Disclosure Database 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 […]

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]]> Walgreens Boots Alliance (WBA) is a global leader in retail and wholesale pharmacy, with a presence in more than 25 countries and a pharmaceutical wholesale and distribution network with more than 400 distribution centres. Through charitable partnerships around the world, WBA empowers young people to reach their potential and step up as leaders in their communities.  Tweet This!

This case study is based on the 2019 Corporate Social Responsibility Report by WBA published on the Global Reporting Initiative Sustainability Disclosure Database 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

WBA supports programmes that directly impact youth worldwide, works with partners to create new programmes and raises funds for organisations with demonstrated track records of impact. In order to empower young people across the globe WBA took action to:

  • address children’s mental wellbeing
  • support Red Nose Day
  • partner with ME to WE Foundation
  • collaborate to provide vaccines

What are the material issues the company has identified?             

In its 2019 Corporate Social Responsibility Report WBA identified a range of material issues, such as access to affordable and quality healthcare, product safety, consumer health education and marketing, employee health, safety and wellbeing, data privacy and security. Among these, empowering young people across the globe stands out as a key material issue for WBA.

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 WBA engages with:

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

Stakeholder Group                Method of engagement
Nongovernmental organisations (NGOs)

 

 

 ·      At a minimum, quarterly meetings with key charity partners

·      Formal yearly feedback with key charity partners

·      Regular and ad-hoc meetings, as well as conference participation with NGOs; frequency varies from business to business and from group to group
Stockholders, investors, lenders

 

 

 ·      Annual stockholders meeting

·      Frequent dialogue through WBA’s investor relations team

·      Participation in three investor conferences during fiscal 2019

·      Annual submission of CDP Climate Change questionnaire
Government bodies and agencies

 

 

 ·      Regular meetings with government agencies

·      Weekly or more frequent dialogue with membership associations

·      Consultation responses at national and international levels

·      Quarterly industry panels
Internal stakeholders

 

 

 ·      Annual employee performance reviews/appraisals

·      Quarterly and/or annual employee feedback surveys, varies from business to business

·      Ethics, safety, compliance, development and other training – frequency varies from business to business and from role to role

·      Daily Company and business communications through email, intranet and bulletin boards

·      Quarterly town hall meetings with senior leadership
Suppliers

 

 ·      Annual supplier conferences including annual conference on ethical sourcing with suppliers in Asia

·      Quarterly joint business plans meetings with selected suppliers
Academics

 

 

 ·      Face-to-face bi-annual meetings

·      Regular guest-speaker slots

·      Presentations at scientific meetings several times a year
Communities

 

 

 ·      Daily, through WBA’s retail pharmacies and CSR initiatives

·      Annual campaigns with charity partners

·      Daily response to issues raised on social media
Customers (pharmacy benefit managers (PBMs), pharmacists, consumers, patients)

 

 ·      Always-on Walgreens and Boots UK customer satisfaction surveys

·      Most weekdays, through WBA’s corporate website, business websites

·      Daily, through social media

·      Daily, through WBA’s retail pharmacies and CSR initiatives
Media ·      Media releases and social media most weekdays

·      Quarterly streaming of earnings call with analysts; streaming of executive participation in investor conferences

·      Media interviews on an ad-hoc basis

·      Submissions for CSR awards and recognition programmes

·      Health education and awareness campaigns on social media
Peers

 

 ·      Ad-hoc meetings and regular dialogue through membership organisations

What actions were taken by WBA to empower young people across the globe?

In its 2019 Corporate Social Responsibility Report WBA reports that it took the following actions for empowering young people across the globe:

  • Addressing children’s mental wellbeing
  • Boots UK teamed up with BBC Children in Need in fiscal 2019 to address children’s mental wellbeing. In addition, Boots UK and Boots Opticians customers and employees raised more than £1.1 million ($1.4 million) for BBC Children in Need’s annual campaign, bringing the total to £12.7 million ($20.0 million) raised over 15 years to support projects across the UK that focus on disadvantaged children and young people.
  • Supporting Red Nose Day
  • During fiscal 2019, Walgreens raised more than $28 million through customer purchases of Red Noses, and customer, employee and supplier contributions. Since 2015 Walgreens has raised more than $100 million for Red Nose Day, supporting programmes that provide health and other services to children in need in the U.S. and around the world.
  • Partnering with ME to WE Foundation
  • In fiscal 2019, Walgreens sold more than 800,000 ME to WE products, generating more than $194,000 to support WE programs. Walgreens and ME to WE Foundation launched a new initiative called WE Teachers, which provides America’s educators with free resources to help them and their students succeed in the classroom. WE Teachers includes free online teacher training on issues such as bullying and mental health, and WE Teachers awards, where consumers nominate deserving educators to receive $500 Walgreens gift cards toward the purchase of school supplies. Across WBA, the company also continued its sponsorship of WE Day youth celebrations in the UK and U.S., which have reached some 319,000 youth and educators since 2014. Additionally, Walgreens and nonprofit Vitamin Angels have supported more than 200 million women and children in the U.S. and around the world through their six-year partnership to improve child and maternal health.
  • Collaborating to provide vaccines
  • Walgreens and the United Nations (UN) Foundation’s Shot@Life campaign collaborate to provide vaccines globally. Over six years, Walgreens has helped to provide more than 50 million lifesaving polio and measles vaccines to children in developing countries by making a donation to the UN Foundation for every immunisation shot administered. In fiscal 2019 Walgreens committed to continuing the Get a Shot. Give a Shot. programme and to help provide 50 million additional immunisations for children in developing countries by 2024, to bring the total since 2013 to 100 million.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 203-1 Infrastructure investments and services supported

2) Disclosure 413-1 Operations with local community engagement, impact assessments, and development programs

 

Disclosure 203-1 Infrastructure investments and services supported corresponds to:

Disclosure 413-1 Operations with local community engagement, impact assessments, and development programs does not correspond to any SDG.

 

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:

1) This case study is based on published information by WBA, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to WBA: 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.

The post Case study: How WBA empowers young people across the globe appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Gazprom Neft supports local communities through educational initiatives https://sustaincase.com/case-study-how-gazprom-neft-supports-local-communities-through-educational-initiatives/ Wed, 07 Jul 2021 05:57:03 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12721 Gazprom Neft is the third largest oil producer in Russia, with products exported to more than 100 countries worldwide and sold throughout Russia and abroad through an extensive network of directly-owned retail outlets. Gazprom Neft is committed to promoting and supporting the activity of local communities in tackling social and economic issues, providing tools, opportunities and benchmarks for development. This case study is based on the 2019 Sustainable Development Report by Gazprom Neft published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability […]

The post Case study: How Gazprom Neft supports local communities through educational initiatives appeared first on SustainCase - Sustainability Magazine.

]]> Gazprom Neft is the third largest oil producer in Russia, with products exported to more than 100 countries worldwide and sold throughout Russia and abroad through an extensive network of directly-owned retail outlets. Gazprom Neft is committed to promoting and supporting the activity of local communities in tackling social and economic issues, providing tools, opportunities and benchmarks for development.

This case study is based on the 2019 Sustainable Development Report by Gazprom Neft published on the Global Reporting Initiative Sustainability Disclosure Database 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

Gazprom Neft seeks to support the development of the regions in which it operates  Tweet This!, achieving its sustainable development goals. In order to support local communities through educational initiatives Gazprom Neft took action to:

  • implement the Masters of Russia programme
  • carry out the “Mathematical Progression” joint project
  • organise the “Developing Talent” Case Tournament
  • implement educational programmes with the Strelka Institute

What are the material issues the company has identified?

In its 2019 Sustainable Development Report Gazprom Neft identified a range of material issues, such as financial stability and operational efficiency, product safety and quality, anti-corruption, human rights. Among these, supporting local communities through educational initiatives stands out as a key material issue for Gazprom Neft.

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 Gazprom Neft engages with:

Stakeholder Group                Method of engagement
Shareholders and investors

 

 ·      General Meeting of Shareholders

·      Corporate reports

·      Meetings, conferences and conference calls for investors

·      On-site meetings with investors

·      Investor Day attended by Gazprom Neft top managers

·      Analyst databook and statistics digest published by Gazprom Neft

·      Up-to-date information posted in the Investors section on the company website

·      Hotline and email
Employees

 

 

 ·      System of internal communications

·      Meetings between Gazprom Neft employees and management to discuss outstanding issues

·      Joint health committees

·      Meetings attended by trade union representatives

·      Employee engagement surveys (EES)

·      Forums, conferences, cultural and sporting events
Consumers ·      Contracts

·      Feedback system and services

·      Complaint management system

·      System for consumers to assess Gazprom Neft

·      Media

·      External corporate communications

·      Gazprom Neft loyalty programmes

·      Business meetings, including on-site

·      Conferences and forums

·      Corporate reports
Government of the Russian Federation and governments of Gazprom Neft’s regions of operation ·      Agreements on social and economic partnership

·      Joint working groups, round-table talks and meetings

·      Corporate reports

·      Participation in commissions and conferences

 
Suppliers and partners

 

 

 ·      Competitive tendering procedures

·      Contracts and agreements

·      System for contractors to assess Gazprom Neft

·      Business meetings and forums organised by Gazprom Neft

·      External conferences and exhibitions

·      Corporate website, including the Procurement Portal section
Local communities in Gazprom Neft’s regions of operation

 

 

 

 ·      Social projects forming part of the ‘Home Towns’ Social Investment Programme

·      Projects to promote social development and support education, healthcare, culture and sports in Serbia and Iraq

·      Public consultations, round-table meetings and dialogues

·      Corporate and external media

·      Corporate reports
Industry peers in Russia and worldwide

 

 ·      Cooperation agreements

·      Participation in industry and cross-industry events

·      Membership in industry organisations’ committees

·      Joint projects

·      Corporate reports
Non-profit and non-governmental organisations

 

 ·      Conferences and exhibitions

·      Round-table meetings

·      Joint implementation of social projects

·      Corporate reports

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Gazprom Neft surveyed both internal and external stakeholders.

What actions were taken by Gazprom Neft to support local communities through educational initiatives?

In its 2019 Sustainable Development Report Gazprom Neft reports that it took the following actions for supporting local communities through educational initiatives:

  • Implementing the Masters of Russia programme
  • Together with the Creative Practices Foundation, Gazprom Neft is implementing the Masters of Russia programme which aims to support young entrepreneurship. This project includes a series of studies, forums and crash courses, and is focused on the Mastera Academy online media platform. This resource gives young entrepreneurs an opportunity to share experiences, develop professional competencies, and present their products to a wide audience, free of charge. Over 20,000 users have completed online courses on the Mastera Academy platform. In the reporting year, the Makers of Siberia Photo Prize contest was held with support from the “Home Towns” Programme. The theme of the contest was “The Present” and local photographers took part in it. Members of the MoS Photo Prize jury considered over 600 applications, and selected 17 of them: ten individual photos, and seven series. The main prize was a trip to the photography festival in Arles in France. As part of the Strategic Planning Leaders Forum 2019, Masters of Russia held a plenary session entitled “Creative Entrepreneurship and the New Economy: Regions during the Industry 4.0”. In the youth section of the Forum, there was an open discussion called “The Power of the Village” that related to sustainable development and creative projects outside cities.
  • Carrying out the “Mathematical Progression” joint project
  • Gazprom Neft is a partner of the Chebyshev Laboratory at St Petersburg State University, headed by a Fields Medal winner, Stanislav Smirnov. The “Mathematical Progression” joint project supports talented mathematicians at every stage of their studies: high-school students receive invitations to universities; students are awarded personal scholarships; young researchers receive grants and internships in Russia and abroad; and scientific and research teams secure funding for fundamental studies. In 2019, Gazprom Neft gave individual scholarships and prizes to 73 students and four young researchers. This project has now reached international level, as the Department of Mathematics and Computer Science was established in the Chebyshev Laboratory. In addition, the “Modern Mathematics” MSc programme was launched for students from Russia, Eastern Europe and Asia, with support from Gazprom Neft.
  • Organising the “Developing Talent” Case Tournament
  • Every year since 2015, Gazprom Neft has held the “Developing Talent” Case Tournament for gifted school students. High-school students from the regions in which Gazprom Neft operates compete to solve business cases related to the oil and gas sector. The tournament is aimed at making specialisation in engineering more popular among schoolchildren in the regions in which Gazprom Neft operates, helping the schoolchildren to build their research skills, thus encouraging the creation of a future talent pool for the company. In 2019, the tournament was held in a new format: participants solved not only problems related to the oil and gas sector, but also digital business cases prepared by Gazprom Neft. Overall, 2,800 applications were submitted for the tournament, with 71 high-school students reaching the final. In 2019, the Sirius Educational Centre, which is the leading Russian campus for gifted children, joined in the tournament.
  • Implementing educational programmes with the Strelka Institute
  • Since 2015, Gazprom Neft has been working with the Strelka Institute for Media, Architecture and Design in educational programmes for representatives involved in regional development initiatives in Omsk and St Petersburg. The project aims to provide the representatives with the necessary competencies to enable them to work together to create a comfortable urban environment. In 2019, over 1,000 people attended In the City, a conference about technologies shaping the future of cities. It includes lectures and workshops by entrepreneurs, researchers, and specialists in urban studies from the USA, the Netherlands, Indonesia and Russia, and has 25,000 viewers watching online broadcasts.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 203-2 Significant indirect economic impacts

Disclosure 203-2 Significant indirect economic impacts corresponds to:

 

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:

1) This case study is based on published information by Gazprom Neft, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Gazprom Neft: 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.

The post Case study: How Gazprom Neft supports local communities through educational initiatives appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How TMB promotes financial inclusion https://sustaincase.com/case-study-how-tmb-promotes-financial-inclusion/ Fri, 11 Jun 2021 06:02:22 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12659 Founded in 1957, TMB Bank Public Company Limited (TMB) is the sixth largest commercial bank in Thailand, serving 10 million customers and offering financial products and services ranging from deposits, loans, investment products and bancassurance. This case study is based on the 2019 Sustainability Report by TMB published on the Global Reporting Initiative Sustainability Disclosure Database 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. […]

The post Case study: How TMB promotes financial inclusion appeared first on SustainCase - Sustainability Magazine.

]]> Founded in 1957, TMB Bank Public Company Limited (TMB) is the sixth largest commercial bank in Thailand, serving 10 million customers and offering financial products and services ranging from deposits, loans, investment products and bancassurance. TMB aims to provide equal, inclusive, and easy access to financial products and services to all its customers.  Tweet This!

This case study is based on the 2019 Sustainability Report by TMB published on the Global Reporting Initiative Sustainability Disclosure Database 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 2019, TMB launched a number of financial inclusive products and services, for both retail customers and small-sized businesses. In order to promote financial inclusion TMB took action to:

  • launch the TMB Smart Port
  • introduce the TMB Experience
  • offer the instant loan on TMB TOUCH
  • introduce two new unsecured loans for small-sized businesses

What are the material issues the company has identified?

In its 2019 Sustainability Report TMB identified a range of material issues, such as customer experience, digital transformation, data privacy and protection, market conduct, responsible lending. Among these, promoting financial inclusion stands out as a key material issue for TMB.

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 TMB engages with:

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

Stakeholder Group                Method of engagement
Shareholders

 

 

 ·      Annual shareholder general meetings

·      Analyst meetings

·      Shareholder and investor roadshows

·      Quarterly reports

·      Seminars

·      Information disclosure via regulators’ platforms

·      Enquiries submitted through TMB website

·      Investor Relations contact

·      Whistleblower and complaint channel
Employees

 

 

 

 

 ·      Communication with HR Business Partners

·      Employee engagement survey

·      Orientation for new employees

·      Town Halls

·      Regular emails and other online communication

·      Whistleblower and complaint channel
Customers

 

 

 ·      Branches

·      Relationship Managers

·      TMB Contact Centre

·      Online digital platforms such as Facebook and TMB website

·      Activities and events with customers

·      Whistleblower and complaint channel
Partners

 

 ·      Procurement channel

·      Whistleblower and complaint channel
Competitors

 

 

 ·      Banking industry activities, seminars, trainings, and events hosted by regulators and external parties

·      Whistleblower and complaint channel
Regulators

 

 ·      Banking industry activities, seminars, trainings, and events hosted by regulators and external parties

·      Whistleblower and complaint channel
Communities

 

 ·      • FAI-FAH Centres

·      Community Relations

·      Community surveys

·      Whistleblower and complaint channel

What actions were taken by TMB to promote financial inclusion?

In its 2019 Sustainability Report TMB reports that it took the following actions for promoting financial inclusion:

  • Launching the TMB Smart Port
  • The TMB Smart Port is the first full service for investment portfolio management, specifically designed by TMB to adjust the investment portfolio according to market conditions. This new service offers widening wealth services to mainstream customers and to those who are interested in investing in funds and want to build their financial wealth, but do not know how to manage their portfolios and do not have time to watch the market.
  • Introducing the TMB Experience
  • The “TMB Experience” is a new concept branch, offering engaging experience that combines digitisation with a human touch to enable customers to enjoy discovering their real financial needs through an ‘Avatar’ identity creation and exploring products and services which can help them reach their financial goals. The aim is to allow customers to understand their own financial needs and objectives effectively with the assistance of both digitised tools and TMB branch personnel. Customers will not be forced to buy any products, but once they are ready to purchase, they will be offered the products and services on a need-based basis to make sure that they can get more benefits in accordance with the TMB Get MORE proposition.
  • Offering the instant loan on TMB TOUCH
  • TMB launched the instant loan on TMB TOUCH, where customers can instantly, easily, and conveniently apply for loans or credit cards via TMB TOUCH with no documents required and approval decisions made known to customers immediately.
  • Introducing two new unsecured loans for small-sized businesses
  • TMB introduced two new unsecured loans for stock investment and to increase financial liquidity in collaboration with Lazada Thailand, an e-commerce platform, for online merchants. These products were developed to address the pain and needs of small-sized businesses, who struggle or do not have access to secure loans for their businesses. Securing loans requires countless documents and time-consuming processes, which have been barriers for small-sized business. Now they can apply for loans with TMB as these loans have streamlined the whole process, making it accessible for the business to secure a loan.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 203-2 Significant indirect economic impacts

Disclosure 203-2 Significant indirect economic impacts corresponds to:

 

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:

1) This case study is based on published information by TMB, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to TMB: 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.

The post Case study: How TMB promotes financial inclusion appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How IGM strengthens communities by promoting financial confidence https://sustaincase.com/case-study-how-igm-strengthens-communities-by-promoting-financial-confidence/ Fri, 05 Mar 2021 06:50:14 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12298 IGM Financial Inc. is a leading wealth and asset management company supporting financial advisors and the clients they serve in Canada, and institutional investors throughout North America, Europe and Asia. As a financial services company, , so they can achieve their goals and own their financial future. This case study is based on the 2019 Corporate Responsibility Report by IGM published on the Global Reporting Initiative Sustainability Disclosure Database 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 […]

The post Case study: How IGM strengthens communities by promoting financial confidence appeared first on SustainCase - Sustainability Magazine.

]]> IGM Financial Inc. is a leading wealth and asset management company supporting financial advisors and the clients they serve in Canada, and institutional investors throughout North America, Europe and Asia. As a financial services company, one of the best ways IGM can strengthen communities is by offering its resources and expertise to help Canadians feel confident about their finances  Tweet This!, so they can achieve their goals and own their financial future.

This case study is based on the 2019 Corporate Responsibility Report by IGM published on the Global Reporting Initiative Sustainability Disclosure Database 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

IGM’s IG Empower your Tomorrow focuses on assisting four key groups who are underserved, when it comes to financial guidance: Indigenous peoples, newcomers, seniors and youth. In order to strengthen communities by promoting financial confidence IGM took action to:

  • provide financial education to indigenous peoples and newcomers
  • support seniors and youth
  • update and re-launch the Money & Youth financial literacy textbook and website

What are the material issues the company has identified?

In its 2019 Corporate Responsibility Report IGM identified a range of material issues, such as client experience, diversity and inclusion, privacy and information security, environmental footprint. Among these, strengthening communities by promoting financial confidence stands out as a key material issue for IGM.

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 IGM engages with:

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

Stakeholder Group                Method of engagement
Clients

 

 

 ·      Annual client and advisor surveys

·      Client service call centres

·      Advisory panels and focus groups

·      In person and virtual communications
Shareholders ·      Annual Meeting

·      Quarterly earnings calls

·      Five sell-side conferences, four road shows

·      Over 75 investor/analyst meetings, ad hoc communications

·      ESG Rating firm responses and discussions

·      Board engagement mechanism
Employees ·      Annual & ad-hoc surveys, focus groups

·      Employee forums, intranets

·      Performance & development discussions

·      Employee volunteer groups
Financial advisors

 

 ·      Surveys, meetings, focus groups

·      Client service teams & call centres

·      Conferences, training, webinars

·      Online collaboration platforms
Industry partners

 

 

 

 ·      Memberships on regulatory committees and industry bodies

·      Participation on regulatory roundtables, public submissions, industry working groups and technical committees

·      Meetings, conferences and events
Communities

 

 

 ·      Community partnership meetings, events

·      Financial confidence workshops

·      Focus groups, sustainability networks

What actions were taken by IGM to strengthen communities by promoting financial confidence?

In its 2019 Corporate Responsibility Report IGM reports that it took the following actions for strengthening communities by promoting financial confidence:

  • Providing financial education to indigenous peoples and newcomers
  • Indigenous peoples are a vital part of Canada’s culture, yet many face unique barriers to financial wellness on a daily basis. IGM partners with organisations like Opportunities for Employment to provide financial education and job training to Indigenous Peoples and funds scholarships for Indigenous students at both the local and national level, with organisations like Indspire. Additionally, as learning the financial systems of a new country can be daunting, IGM works with the Canadian Foundation of Economic Education (CFEE) to provide financial education in newcomers’ first language. IGM also has a longstanding partnership with United Way and supports local chapters across Canada so they can offer financial literacy programmes to newcomers.
  • Supporting seniors and youth
  • The seniors, parents and grandparents of various communities often face unique financial challenges that come with age. IGM offers support through financial planning workshops designed to guide seniors through financial considerations, in collaboration with national partners including the Alzheimer Society of Canada. In addition, IGM seeks to make sure that future teachers, caregivers, business leaders and professionals start off on the right financial foot. Accordingly, with the help of the CFEE, IGM distributed more than 500,000 copies of Money and Youth textbooks to students across the nation and hosted thousands of students at workshops. Recognising basic literacy as a precursor to financial literacy, IGM also supports Dyslexia Canada’s Mark it Read national campaign, which raises awareness and support for the 10% to 20% of Canadian children living with dyslexia.
  • Updating and re-launching the Money & Youth financial literacy textbook and website
  • In the fall of 2019, IGM updated and re-launched its Money & Youth financial literacy textbook and website, which reached more than 43,000 high school students across Canada. In addition, textbook usage by IG Wealth Management Consultants totalled approximately 6,300, a 96% increase over 2018. 50 CFEE/IG Wealth Management financial literacy workshops were also delivered to nearly 1,000 seniors and newcomers, with IG Wealth Management Consultants participating in about 60% of them.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 203-2 Significant indirect economic impacts

Disclosure 203-2 Significant indirect economic impacts corresponds to:

 

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:

1) This case study is based on published information by IGM, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to IGM: 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.

The post Case study: How IGM strengthens communities by promoting financial confidence appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Cathay Life promotes financial inclusion https://sustaincase.com/case-study-how-cathay-life-promotes-financial-inclusion/ Wed, 16 Dec 2020 07:00:34 +0000 https://ccprowebs.com/new-sustaincase.com/?p=12025   Cathay Life is the leading brand in Taiwan’s insurance industry, with business sites around Taiwan that include 33 branches and 300 agencies with over 27,000 sales agents providing customers with a wide variety of products and services. Recognising that an inclusive financial system can provide equal opportunity to help reduce poverty and promote prosperity, , so that the public can enjoy required financial services equally. This case study is based on the 2018 Corporate Sustainability Report by Cathay Life published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies we […]

The post Case study: How Cathay Life promotes financial inclusion appeared first on SustainCase - Sustainability Magazine.

]]>  

Cathay Life is the leading brand in Taiwan’s insurance industry, with business sites around Taiwan that include 33 branches and 300 agencies with over 27,000 sales agents providing customers with a wide variety of products and services. Recognising that an inclusive financial system can provide equal opportunity to help reduce poverty and promote prosperity, Cathay Life seeks to expand the usability and accessibility of financial services  Tweet This!, so that the public can enjoy required financial services equally.

This case study is based on the 2018 Corporate Sustainability Report by Cathay Life published on the Global Reporting Initiative Sustainability Disclosure Database 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

Cathay Life has been providing alternative financial inclusion products to fulfill the demands of various social groups, including the economically disadvantaged and the elderly, so as to maximise social stability centred on insurance. In order to promote financial inclusion Cathay Life took action to:

  • offer micro insurance for the economically disadvantaged
  • provide the first petty amount whole life insurance
  • launch Asia’s first medical insurance for cancer patients
  • provide student group insurance

What are the material issues the company has identified?

In its 2018 Corporate Sustainability Report Cathay Life identified a range of material issues, such as corporate governance and ethical corporate management, responsible investment and lending, customer rights preservation, attracting and developing talents, information security and customer privacy. Among these, promoting financial inclusion stands out as a key material issue for Cathay Life.

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 Cathay Life engages with:

Stakeholder Group                Method of engagement
Employees ·       Engagement Survey

·       Training and Development

·       Mailbox

·       Forum

·       Employee Activities

·       EAP
Customers ·       Satisfaction Survey

·       Website

·       Cathay Life App

·       0800 Customer Services

·       Smart Digital Customer Services

·       Service Mailbox

·       Policyholder Activities
Suppliers ·       Supplier Activities

·       Supplier Management System
Communities/NGOs/ NPOs ·       Charity Annual Report

·       Charity Activities

·       Media Promotion

·       Website

·       Seminars
CSR Experts

 

 ·       CS Report

·       CS Website

·       Email

·       Seminars
Investors ·       Annual Report

·       Stewardship Report

·       Meetings

·       Public Conferences/ Forums

·       Investor Conferences
Government and Competent Authority ·       Life Insurance Association

·       Meetings

·       Email

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Cathay Life engaged with its stakeholders through surveys and interviews, including a questionnaire survey among 3,943 stakeholders.

What actions were taken by Cathay Life to promote financial inclusion?

In its 2018 Corporate Sustainability Report Cathay Life reports that it took the following actions for promoting financial inclusion:

  • Offering micro insurance for the economically disadvantaged
  • From 2009, Cathay Life began offering micro insurance to provide basic coverage to the economically These products cover injury, death, disability and medical expenses. As of the end of 2018, micro insurance provided protection totalling NT$59.4 billion for around 190,000 economically disadvantaged people, the highest in the industry.
  • Providing the first petty amount whole life insurance
  • Cathay Life expanded its micro insurance to all people, and led the industry in offering the first petty amount whole life insurance in 2017, which offers the largest coverage and can be afforded by almost anyone. The product allows people to get basic coverage, even for those who cannot apply insurance because of age or poor physical condition. The features of this product are low application requirements and premiums, allowing people to obtain basic insurance coverage easily. As of the end of 2018, nearly 180,000 policyholders have been insured, providing a total insurance coverage, NT$51.6 billion approximately, against personal risks for society. This is the highest amount of total coverage in the industry.
  • Launching Asia’s first medical insurance for cancer patients
  • After being diagnosed with cancer, many cancer patients finally realise how insufficient their coverage is but cannot transfer the risk by applying insurance, and have to face the burden of immense medical expenses directly. Cathay Life saw the need of cancer patients for getting coverage and launched Asia’s first medical insurance for cancer patients exclusively in 2018. The coverage is for the top 12 most common primary cancers in Taiwan, such as colorectal cancer or breast cancer. This product can cover about 80% of cancer patients and offer them adequate economic and psychological support, has gained widespread social approval and has inspired industry peers to follow suit.
  • Providing student group insurance
  • From 2017 to 2018, Cathay Life provided student group insurance with a total insured amount of about NT$3 trillion, protecting 3 million students around Taiwan. Cathay Life and the K-12 Education Administration also implemented the Sustainable Campus Project, to provide students with more thoughtful and expanded services. Nearly 6,000 agents, as the sustainable campus ambassadors around Taiwan, visited schools to increase students’ awareness of self-protection and sustainability issues.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 203-2 Significant indirect economic impacts

Disclosure 203-2 Significant indirect economic impacts corresponds to:

 

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:

1) This case study is based on published information by Cathay Life, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Cathay Life: 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.

The post Case study: How Cathay Life promotes financial inclusion appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Arab Bank promotes financial inclusion and literacy https://sustaincase.com/case-study-how-arab-bank-promotes-financial-inclusion-and-literacy/ Wed, 02 Dec 2020 07:00:19 +0000 https://ccprowebs.com/new-sustaincase.com/?p=11987 Established in 1930 and headquartered in Amman, Jordan, Arab Bank has one of the largest global Arab banking networks, with more than 600 branches spanning across five continents. , so   as to contribute to improving the community’s overall wellbeing. This case study is based on the 2019 Sustainability Report by Arab Bank published on the Global Reporting Initiative Sustainability Disclosure Database 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 […]

The post Case study: How Arab Bank promotes financial inclusion and literacy appeared first on SustainCase - Sustainability Magazine.

]]>

Established in 1930 and headquartered in Amman, Jordan, Arab Bank has one of the largest global Arab banking networks, with more than 600 branches spanning across five continents. Arab Bank works on the financial inclusion of the financially unserved segments of its community to enhance their financial knowledge  Tweet This!, so   as to contribute to improving the community’s overall wellbeing.

This case study is based on the 2019 Sustainability Report by Arab Bank published on the Global Reporting Initiative Sustainability Disclosure Database 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

Arab Bank helps people from different segments of its community feel empowered with the knowledge, skills and confidence they need to make smart, everyday financial decisions, offering a variety of services, support, information and tools. In order to promote financial inclusion and literacy Arab Bank took action to:

  • implement the “Shabab” programme
  • use the “Jomopay” mobile payment system
  • invest in the sustainable development of local communities
  • support the national financial educational programme
  • sponsor social financial literacy programmes

What are the material issues the company has identified?

In its 2019 Sustainability Report Arab Bank identified a range of material issues, such as legal and regulatory compliance, governance, accountability and transparency, customer experience and satisfaction, ethical conduct, information security and data privacy, talent attraction and retention. Among these, promoting financial inclusion and literacy stands out as a key material issue for Arab Bank.

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 Arab Bank engages with:

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

Stakeholder Group                Method of engagement
Customers ·      Service & Communication Channels

·      Feedback Methods

·      Regular Annual Reports

·      Media
Shareholders ·      Annual General Assembly

·      Financial and Non-Financial Reports
Government ·      Regulatory Reporting and Audits

·      Regulatory Review

·      Regulations
Community

 

 ·      Social and Digital Media

·      Regular Annual Reports

·      Media

·      CSR Activities & Initiatives
Suppliers

 

 ·      Meetings

·      Contracts
The environment

 

 ·      Engaging with Clients & Borrowers on ESG Issues

·      Engaging with Environmental NGOs

·      Sustainability Reports
Employees

 

 ·      Internal Communication Channels

·      Volunteering Activities

What actions were taken by Arab Bank to promote financial inclusion and literacy?

In its 2019 Sustainability Report Arab Bank reports that it took the following actions for promoting financial inclusion and literacy:

  • Implementing the “Shabab” programme
  • Through its “Shabab” programme, Arab Bank provides the youth with financial services that are not usually offered to them and with an exceptional early banking experience, through the programme’s lifestyle and financial benefits. Additionally, Arab Bank offers to students working in part-time jobs first jobbers’ access to credit facilities at preferential terms.
  • Using the “Jomopay” mobile payment system
  • Arab Bank has included the Central Bank of Jordan’s mobile payment system “Jomopay” within its mobile banking service “Arabi Mobile”. By participating in this service, Arab Bank widened the reach of its customers’ remittances to all users with Jomopay wallets, reducing the dependency on physical cash and providing the unbanked with access to its wide base of customers.
  • Investing in the sustainable development of local communities
  • Arab Bank invested JOD 148,000, in cooperation with the Jordan River Foundation (JRF), in the sustainable development of local communities. This investment provided selected Community Based Organisations (CBOs) in the governorates of Ma’an and Zarqa with revolving loan funds to promote economic opportunities and entrepreneurship in poor communities, by facilitating access to finance. Implemented by JRF, the revolving loans programme grants loans to community members through CBOs that are carefully selected and undergo screening and extensive capacity building, to enable them to manage their own revolving loan portfolio in a sustainable way. Since 2011, approximately 320 individuals have benefitted from the revolving loans, with almost 63% of them being females.
  • Supporting the national financial educational programme
  • Arab Bank supports the national financial educational programme, initiated by the Central Bank of Jordan, to increase financial literacy among school students and teach them how to develop smart saving habits and make sound financial decisions. Arab Bank also supported this initiative through the Abdul Hameed Shoman Foundation (AHSF). The programme is intended to bridge the gap between financial knowledge and behaviour, acquainting students with basic economic and financial concepts.
  • Sponsoring social financial literacy programmes
  • Believing that financial literacy starts at a young age, Arab Bank has embarked upon several sponsorships targeting children in cooperation with various NGOs. In 2019, Arab Bank supported “The Arts of Saving” programme with Haya Cultural Centre. Through this programme, children were taught the art of saving money and managing budgets through creative and interactive activities. More than 1,800 children across the Kingdom were reached.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is:  Disclosure 203-1 Infrastructure investments and services supported

Disclosure 203-1 Infrastructure investments and services supported corresponds to:

 

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:

1) This case study is based on published information by Arab Bank, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Arab Bank: 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.

The post Case study: How Arab Bank promotes financial inclusion and literacy appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How First Resources supports the communities where it operates https://sustaincase.com/case-study-how-first-resources-supports-the-communities-where-it-operates/ Wed, 15 Jul 2020 03:43:13 +0000 https://ccprowebs.com/new-sustaincase.com/?p=11032 Established in 1992 and listed on the Singapore Exchange since 2007, First Resources is a leading palm oil producer, managing over 200,000 hectares of oil palm plantations across the Riau, East Kalimantan and West Kalimantan provinces of Indonesia. This case study is based on the 2018 Sustainability Report by First Resources published on the Global Reporting Initiative Sustainability Disclosure Database 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) […]

The post Case study: How First Resources supports the communities where it operates appeared first on SustainCase - Sustainability Magazine.

]]> Established in 1992 and listed on the Singapore Exchange since 2007, First Resources is a leading palm oil producer, managing over 200,000 hectares of oil palm plantations across the Riau, East Kalimantan and West Kalimantan provinces of Indonesia. First Resources is committed to maintaining positive relations with the communities where it operates, contributing to the socio-economic development of neighbouring communities through community investment programmes.  Tweet This!

This case study is based on the 2018 Sustainability Report by First Resources published on the Global Reporting Initiative Sustainability Disclosure Database 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

First Resources’ Policy on Sustainable Palm Oil includes a commitment to drive positive socio-economic impact for the people and communities First Resources touches through job creation, investments in plasma projects and community development programmes centred on education, healthcare and infrastructure (including access to clean water). In order to support the communities where it operates First Resources took action to:

  • increase access to quality formal education
  • support infrastructure development
  • extend access to healthcare
  • improve access to clean water

What are the material issues the company has identified?

In its 2018 Sustainability Report First Resources identified a range of material issues, such as labour conditions and human rights, business conduct and corruption, supply chain traceability and transparency, greenhouse gas (GHG) emissions, employee management and retention. Among these, supporting the communities where it operates stands out as a key material issue for First 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 First Resources engages with:

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

Stakeholder Group                Method of engagement
Communities ·      Meetings with Community Development Officers
Customers

 

 

 

 ·      One-on-one communication

·      Website

·      Annual Report

·      Sustainability Report
Employees

 

 

 ·      Internal company portal

·      Internal company meetings

·      Performance review
Shareholders

 

 

 

 

 ·      Annual General Meeting

·      Website

·      SGXNET

·      Annual Report

·      Sustainability Report

·      One-on-one communication

·      Conferences/Non-Deal Roadshows
Banks and financial institutions

 

 

 

 ·      Website

·      SGXNET

·      Annual Report

·      Sustainability Report

·      One-on-one communication
Non-governmental organisations (NGOs)

 

 

 ·      One-on-one communication

·      Website

·      Annual Report

·      Sustainability Report
Suppliers

 

 ·      One-on-one communication

·      Group sessions
Regulatory bodies (including government)

 

 ·      One-on-one communication

·      Reporting mechanisms

·      Multi-stakeholder forums

What actions were taken by First Resources to support the communities where it operates?

In its 2018 Sustainability Report First Resources reports that it took the following actions for supporting the communities where it operates:

  • Increasing access to quality formal education
  • First Resources recognises that education is fundamental for community growth and well-being and works to increase access to quality formal education for both the current and future generations of school-age children in its communities. First Resources currently manages 38 schools located within its plantation estates, which include 13 kindergartens, 19 elementary schools, four junior high schools and two preschools. These institutions employ more than 250 teachers and educate over 2,500 students. The educational practices adopted are similar to those at schools managed by the local government. First Resources contributes to the schools’ facilities and teaching aids, such as furniture, computers, electricity generators and books. All children of employees working on First Resources’ estates are provided with free education at the schools. Scholarships were also awarded to high-scoring children from less privileged families, having been selected by local education authorities. To motivate teachers that work with First Resources’ communities, and encourage a higher standard of teaching, First Resources offers them additional incentives, such as supplementary income. In 2018, First Resources allocated and invested almost IDR3 billion to support the education of children. In addition to awarding scholarships, First Resources also established an internship programme that is run in collaboration with more than 30 Indonesian universities. The programme offers students an opportunity to apply what they have learned, expand their knowledge and benefit from valuable on-the-job experience. In 2018, First Resources took in 296 interns, consisting of students from various universities and high schools.
  • Supporting infrastructure development
  • As well as enabling First Resources to run its own operational activities more efficiently, better infrastructure enables local communities, including farmers, cooperatives, associations, businesses and local government, to have better access to healthcare facilities, educational facilities and markets. First Resources consults local village leaders on which infrastructure projects to support. Accessibility to roads, better road conditions and connecting bridges will improve the mobility of rural communities and support local economies. The roads servicing First Resources’ operating areas – which First Resources shares with local communities – are maintained to minimise disruption to First Resources’ operations and to maintain strong links to the main transport network. In 2018, most of First Resources’ infrastructure projects were carried out in its development areas at East Kalimantan and West Kalimantan, where First Resources repaired 85 kilometres of roads and bridges.
  • Extending access to healthcare
  • First Resources has built more than 32 health clinics on its estates. These are staffed with qualified medical professionals, including at least one doctor and two nurses in each facility. The primary purpose of the clinics is to service First Resources’ employees and their families, but they are also open to local community members. The operating hours of the clinics are longer than those of the health posts managed by local government. Medical services such as immunisations for polio, measles and tuberculosis are available to communities upon request. First Resources has also established health-related community programmes, to improve the well-being of local residents and increase their awareness about the benefits of healthy living. Carried out in cooperation with local health authorities, the “Be Healthy with First Resources” programme includes treatments and advice for children, pregnant women and the elderly, as well as the coordination of blood donation drives.
  • Improving access to clean water
  • Infrastructure for delivering clean and potable water is severely lacking in some of the communities located near First Resources’ operations. First Resources has therefore made assisting villages with this basic need a priority within the scope of its community investment programme. First Resources’ efforts include the provision of clean water, new piping and water tanks, as well as the construction of new water wells for villages to ensure constant water flow. In 2018, this initiative reached three villages and benefitted over 246 families.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 203-1 Infrastructure investments and services supported

2) Disclosure 203-2 Significant indirect economic impacts

 

Disclosure 203-1 Infrastructure investments and services supported corresponds to:

 Disclosure 203-2 Significant indirect economic impacts corresponds to:

  • Sustainable Development Goal (SDG) 1: End poverty in all its forms everywhere
  • Business theme: Availability of products and services for those on low incomes, Economic development in areas of high poverty
  • Sustainable Development Goal (SDG) 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture
  • Business theme: Changing the productivity of organizations, sectors, or the whole economy
  • Sustainable Development Goal (SDG) 3: Ensure healthy lives and promote wellbeing for all at all ages
  • Business theme: Access to medicines
  • Sustainable Development Goal (SDG) 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
  • Business theme: Changing the productivity of organizations, sectors, or the whole economy, Indirect impact on job creation, Jobs supported in the supply chain
  • Sustainable Development Goal (SDG) 10: Reduce inequality within and among countries
  • Business theme: Economic development in areas of high poverty, Foreign direct investment
  • Sustainable Development Goal (SDG) 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development
  • Business theme: Foreign direct investment

 

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:

1) This case study is based on published information by First 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to First 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.

The post Case study: How First Resources supports the communities where it operates appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Chemplast Sanmar enhances the living standards of local communities https://sustaincase.com/case-study-how-chemplast-sanmar-enhances-the-living-standards-of-local-communities/ Tue, 09 Jun 2020 07:09:29 +0000 https://ccprowebs.com/new-sustaincase.com/?p=10901 A leading manufacturer of PVC Resins, Caustic Soda, Chlorochemicals, Refrigerant Gas and Industrial Salt, Chemplast Sanmar is the market leader in Paste PVC and the second largest producer of Suspension PVC in India. Acknowledging the contribution of local communities to the growth and success of its business, Chemplast Sanmar is committed to forging a close partnership with them and improving their living standards in an inclusive and sustainable manner. This case study is based on the 2017-18 Sustainability Report by Chemplast Sanmar published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies […]

The post Case study: How Chemplast Sanmar enhances the living standards of local communities appeared first on SustainCase - Sustainability Magazine.

]]> A leading manufacturer of PVC Resins, Caustic Soda, Chlorochemicals, Refrigerant Gas and Industrial Salt, Chemplast Sanmar is the market leader in Paste PVC and the second largest producer of Suspension PVC in India. Acknowledging the contribution of local communities to the growth and success of its business, Chemplast Sanmar is committed to forging a close partnership with them and improving their living standards in an inclusive and sustainable manner.

This case study is based on the 2017-18 Sustainability Report by Chemplast Sanmar published on the Global Reporting Initiative Sustainability Disclosure Database 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

Chemplast Sanmar seeks to build strong relationships with local communities, contributing to socio-economic development in the areas where it operates.  Tweet This! In order to enhance the living standards of local communities Chemplast Sanmar took action to:

  • support rural health
  • advance rural education
  • increase access to water

What are the material issues the company has identified?

In its 2017-18 Sustainability Report Chemplast Sanmar identified a range of material issues, such as economic performance, energy, occupational health and safety, material usage, labour-management relations. Among these, enhancing the living standards of local communities stands out as a key material issue for Chemplast Sanmar.

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 Chemplast Sanmar engages with:

Stakeholder Group                Method of engagement
Nearby communities

 

 ·      Need-based regular interaction by public relations function and discussion/meeting with community representatives

·      Open dialogue with local communities

·      Survey to derive the priorities on community development initiatives/programmes

·      Celebration of cultural festivals/ occasions
Government and regulating authorities

 

 ·      Monthly inspections

·      Periodical reports

·      Regular interactions/review
Employees

 

 

 ·      Intranet facilities

·      Monthly reports

·      Internal magazines

·      Communication meetings

·      Training programmes

·      Drills
Customers ·      Discussions

·      Personal interactions on an ongoing basis

·      Plant visit
Suppliers/ transporters

 

 ·      Discussions

·      Personal interactions on a regular basis

·      Plant visit

·      Quarterly transporters meet

·      Daily vehicle GPS monitoring report
Media

 

 ·      Advertisements

·      Press conference

·      Interviews of senior management
Contract labours

 

 ·      Induction training

·      Training programme on various safety topics

·      ‘Tool Box’ in the morning

·      Fire drills

·      Emergency response training

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Chemplast Sanmar carried out workshops with key stakeholder groups, including regular employees, contract employees, suppliers, customers, and regulators. In these workshops, Chemplast Sanmar distributed carefully designed questionnaires to obtain a quantitative rating of sustainability topics, based on stakeholder views.

What actions were taken by Chemplast Sanmar to enhance the living standards of local communities?

In its 2017-18 Sustainability Report Chemplast Sanmar reports that it took the following actions for enhancing the living standards of local communities:

  • Supporting rural health
  • Chemplast Sanmar regularly organises mega medical camps near its plant facilities. The number of beneficiaries have been 542 and 210 at Mettur and Karaikal, respectively. Chemplast Sanmar also ran three rural health centres at Chitrapettai, Nochikadu and Semmankuppam villages in the Cuddalore region and four rural health centres at Veeranur, Thangamapuripattinam, Panangadu and Mottur in Mettur region, for which it provided regular aid for their smooth functioning. The total number of beneficiaries were 8518 and 17084 at Mettur and Cuddalore, respectively. Additionally, Chemplast Sanmar arranged various awareness campaigns such as a puppet show on Dengue awareness at the Mettur facility. Chemplast Sanmar’s support for inculcating best hygiene practices also included supplying dustbins to the ESI hospital, to help prevent disease-spread. The total expenditure incurred by Chemplast Sanmar in this focus area for 2017-18, was INR 1,683,017 for all plant facilities combined.
  • Advancing rural education
  • Chemplast Sanmar’s initiatives towards building an educated and well-aware society involve book donation drives, awareness campaigns, donations to village schools for carrying out development activities and running evening tuition centres at various locations. In 2017-18, there were 72 and 84 school children benefitting at the Karaikal and Mettur evening tuition centres respectively. The consolidated budget for the reporting year’s initiatives undertaken in the rural education sector amounted to INR 646,890.
  • Increasing access to water
  • Approximately 55% of Chemplast Sanmar’s CSR expenditure is utilised to provide access to water to local communities. Various developmental activities, like installation of water facilities at primary schools, water supplies to rural areas, desilting operation at Stanley reservoir were carried out as part of Chemplast Sanmar’s CSR programme and, in 2017-18, the quantity of drinking water supplied to nearby communities of Mettur covering 25 villages in 3 panchayats was 488372 KL. Overall, a total expenditure of approximately INR 6,053,664 was made by Chemplast Sanmar in the financial year 2017-18, towards access to water. Other CSR initiatives undertaken by Chemplast Sanmar included donations towards necessary infrastructural development, carrying out celebrations of events at temples and community areas, and livelihood generation initiatives.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standards addressed in this case are:

1) Disclosure 203-1 Infrastructure investments and services supported

2) Disclosure 413-1 Operations with local community engagement, impact assessments, and development programs

 

Disclosure 203-1 Infrastructure investments and services supported corresponds to:

Disclosure 413-1 Operations with local community engagement, impact assessments, and development programs does not correspond to any SDG.

 

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.

FBRH GRI Standards Certified & ISEP recognised Sustainability Course | Venue: London LSE

By registering for the next 2-day FBRH GRI Standards Certified & ISEP recognised course you will be taking the first step in gaining the many benefits of sustainability reporting.

 

References:

1) This case study is based on published information by Chemplast Sanmar, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Chemplast Sanmar: 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.

The post Case study: How Chemplast Sanmar enhances the living standards of local communities appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Grundfos promotes sustainable water use https://sustaincase.com/case-study-how-grundfos-promotes-sustainable-water-use/ Sun, 02 Feb 2020 16:29:20 +0000 https://ccprowebs.com/new-sustaincase.com/?p=10406 Grundfos is one of the world’s leading providers of pump solutions, supplying complete pumping systems and solutions for buildings, industry and every aspect of water use, with annual production standing at more than 17 million units. With water scarcity affecting more than 40% of the world’s population, Grundfos seeks to contribute to meeting the global water challenge through technology and by utilising new business models to introduce sustainable solutions. This case study is based on the 2017 Sustainability Report by Grundfos published on the Global Reporting Initiative Sustainability Disclosure Database that can be found at this link. Through all case studies […]

The post Case study: How Grundfos promotes sustainable water use appeared first on SustainCase - Sustainability Magazine.

]]> Grundfos is one of the world’s leading providers of pump solutions, supplying complete pumping systems and solutions for buildings, industry and every aspect of water use, with annual production standing at more than 17 million units. With water scarcity affecting more than 40% of the world’s population, Grundfos seeks to contribute to meeting the global water challenge through technology and by utilising new business models to introduce sustainable solutions.

This case study is based on the 2017 Sustainability Report by Grundfos published on the Global Reporting Initiative Sustainability Disclosure Database 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

Operating in 56 countries around the globe, Grundfos has the technology and solutions to make a significant contribution to sustainable water use  Tweet This!, measuring progress qualitatively by reaching ever-more people with sustainable solutions and by the quality and innovation value of the partnerships in which Grundfos engages. In order to promote sustainable water use Grundfos took action to:

  • implement the Water2Life programme
  • deliver Lifelink solutions
  • join partnerships

What are the material issues the company has identified?

In its 2017 Sustainability Report Grundfos identified a range of material issues, such as energy efficiency, product life-cycle, anti-corruption, employee satisfaction, human rights, occupational health & safety. Among these, promoting sustainable water use stands out as a key material issue for Grundfos.

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 Grundfos engages with:

Stakeholder Group                Method of engagement
Customers

 

 ·      Consumer survey

·      Websites

·      Product websites

·      E-learning (Grundfos for installers)

·      Online tool for wholesalers (MyGrundfos)

·      Social media

·      Direct contact through sales

·      Customer meetings

·      Industry trade group meetings

·      Awards (Customer Satisfaction Survey)
Employees ·      EMS (Employee Motivation Survey)

·      Intranet

·      Town hall meetings

·      Training & learning warehouse,

·      Whistleblower system

·      Safety week

·      Water2Life
Suppliers

 

 

 

 

 ·      Direct purchase

·      Supplier awards

·      Supplier Code of Conduct awareness

·      Meetings

·      Audits

·      Trainings

·      Conferences
Global and local partners

 

 

 ·      For Memorandum of Understanding (MoU) partners, Grundfos has key account managers who hold regular meetings with them every year
Local communities

 

 

 

 ·      Direct local engagement

·      Employee volunteers

·      Collaborative partnerships

·      Sponsorships
NGOs

 

 

 

 

 ·      Governmental affairs liaisons

·      Direct engagement

·      Meetings

·      Advocacy

·      Dialogue
Development banks and advocacy organisations

 

 ·      Direct engagement

·      Meetings

·      Advocacy

·      Dialogue
Government & policy makers

 

 ·      Governmental affairs liaisons

·      Direct engagement

·      Meetings

·      Advocacy

·      Dialogue

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Grundfos engaged a wide range of stakeholders through a materiality survey, asking stakeholders to rank different topics, adding interviews as verification.

What actions were taken by Grundfos to promote sustainable water use?

In its 2017 Sustainability Report Grundfos reports that it took the following actions for promoting sustainable water use:

  • Implementing the Water2Life programme
  • Water2Life is a programme initiated by Grundfos’ employees that seeks to provide clean water to some of the world’s most vulnerable communities. Grundfos’ involvement in projects is framed by a sustainable solution as decided by the company, and is communicated to employees across the world. The approach is evaluated on a yearly basis, by looking at results in terms of engagement and fundraising. The programme works in partnership with a local NGO that suggests where the greatest impact can be had within a region or country. Grundfos determines which project to focus on and proceeds to fundraise the first half of the project, while the local NGO fundraises the second half and manages the daily responsibilities. In 2017, Grundfos wrapped up its Water2Life project in Vietnam. More than 100 km of pipeline connected the homes of 28,000 people to local waterworks, and the project provided sanitation and hygiene education for more than 3,600 school students. Through Water2Life donations, local waterworks in Vietnam provide clean and affordable water to local communities, which creates both a sustainable business model and jobs for local people. In September 2017, Grundfos partnered with Water Mission and launched a new three-year project in Honduras, bringing clean water to schools and hospitals.
  • Delivering Lifelink solutions
  • Grundfos Lifelink represents Grundfos’ commitment to providing customised sustainable water solutions serving low-income communities in the developing world. By supporting revenue collection, transparency and smarter water management, Lifelink solutions enable water service providers to deliver a sustainable long-term community supply. Grundfos delivers Lifelink solutions to treat surface water in communities that do not have access to potable water or water of sufficient quality for domestic purposes, and combines solar-powered pumps, water treatment (AQpure) and intelligent water ATMs (AQtaps) with online water management and professional service to provide water kiosks connected to groundwater or surface water supplies. Lifelink solutions also build on partnerships across sectors. In 2017, the Grundfos Lifelink team continued building partnerships to bring sustainable access to safe water for low-income communities. Together with World Vision Kenya and funded by the Stone Family Foundation, Grundfos finalised the implementation of 46 automated solar powered water kiosks for 11 water projects in Kenya. Grundfos also engaged with Kenyan mobile operator Safaricom, which made available a special data package at an affordable price so that local communities could access the mobile payment platform for tapping water 24/7 at the AQtaps, and delivered Lifelink solutions to treat surface water in communities that had no access to clean and drinkable water. In West Bengal, India, Grundfos’ ultra-filtration (UF) membrane-based Grundfos AQpure solution is up and running, to treat water for a large village that is surrounded by saline and contaminated surface water. 
  • Joining partnerships
  • For Grundfos, the main value of partnerships is in making a greater difference in the world, particularly when working in unchartered areas. Through SDG #17 on partnerships, Grundfos can achieve its aim to take water of the required quality to where it is needed. Some of Grundfos’ significant partnerships in 2017 are:
    • ADRA International: Grundfos collaborated with the humanitarian organisation ADRA International, to provide access to clean water for 1.5 million people in Asia, Africa, Central and South America, and the South Pacific over a period of five years. Grundfos’ innovative technology will improve access to water and hygiene resources in under-served peri-urban communities.
    • Ghana Ministry of Water: Grundfos and the Ghanaian Minister for Sanitation and Water Resources signed a Memorandum of Understanding on improving clean water supply for the people of Ghana. Grundfos solutions deployed in both urban and rural areas of the West African country include solar-driven pumps, which are particularly suited for areas with unreliable or non-existent power supplies. Furthermore, the focus is on capacity building and training.
    • Danish Refugee Council: Grundfos partnered with the Danish Refugee Council’s Business-Humanitarian Partnership Lab, bringing the first water solutions to the Bidi Bidi refugee camp.
    • 2030 Water Resources Group: In 2016, Grundfos joined the prestigious 2030 Water Resources Group, named for the 2030 Agenda for Sustainable Development and the SDGs that guide its goals. The group brings together public, private and civil society at country level to have an open discussion about water management and to develop concrete proposals that can help drive action on the management of water resources.
    • World Vision: During 2016 and 2017, Grundfos’ partnership with World Vision benefited more than 700,000 people. In 2016, Grundfos recorded over 322,000 people from nine countries who had access to clean water and in 2017 reached a further 384,500 people from eight countries, including Kenya, Tanzania, Uganda, Ethiopia, and Zambia.

Which GRI Standards and corresponding Sustainable Development Goals (SDGs) have been addressed?

The GRI Standard addressed in this case is: Disclosure 203-1 Infrastructure investments and services supported

 

Disclosure 203-1 Infrastructure investments and services supported corresponds to:

 

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:

1) This case study is based on published information by Grundfos, 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 original on the Global Reporting Initiative’s Sustainability Disclosure Database at the link:

http://database.globalreporting.org/

2) https://www.globalreporting.org/standards/gri-standards-download-center/

Note to Grundfos: 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.

The post Case study: How Grundfos promotes sustainable water use appeared first on SustainCase - Sustainability Magazine.

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