Sector: Other Archives - SustainCase - Sustainability Magazine https://sustaincase.com/category/other/ 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, 18 Nov 2024 07:01:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Bionap creates economic value for its stakeholders https://sustaincase.com/case-study-how-bionap-creates-economic-value-for-its-stakeholders/ Mon, 18 Nov 2024 06:59:48 +0000 https://sustaincase.com/?p=19955 Bionap is a vertically integrated Italian company specialised in the research and production of standardised botanical extracts derived from plants and fruits of the Mediterranean area, for nutraceutical, cosmetic and veterinary markets. and maintained over time for future generations. This case study is based on the 2021 Integrated Sustainability Report by Bionap, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, […]

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]]> Bionap is a vertically integrated Italian company specialised in the research and production of standardised botanical extracts derived from plants and fruits of the Mediterranean area, for nutraceutical, cosmetic and veterinary markets. For Bionap, sustainability means creating value to be shared with its stakeholders  Tweet This! and maintained over time for future generations.

This case study is based on the 2021 Integrated Sustainability Report by Bionap, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

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Abstract 

The creation of value in the short/medium and long-term for all the company stakeholders, is a top priority for Bionap. In order to create economic value for its stakeholders Bionap took action to:

  • create economic value for employees
  • create economic value for capital providers
  • create economic value for communities

What are the material issues the company has identified?

In its 2021 Integrated Sustainability Report Bionap identified a range of material issues, such as carbon footprint, product quality and safety, raw material procurement, compliance, waste. Among these, creating economic value for its stakeholders stands out as a key material issue for Bionap.

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 Bionap engages with:

Stakeholder Group
Employees
Customers
Community
Suppliers
Credit institutions
Schools
NGOs
Contractors
Trade associations
Unions

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Bionap engaged with its stakeholders through dedicated virtual meetings.

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

In its 2021 Integrated Sustainability Report Bionap reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2021, Bionap paid € 1,864,467 for employee wages and benefits.
  • Creating economic value for capital providers
  • In 2021, Bionap paid € 611,669 to capital providers.
  • Creating economic value for communities
  • In 2021, Bionap spent € 3,712 in community investments.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Bionap, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://bionap.com/pdf/BIONAP_RI_2021.pdf

Note to Bionap: 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 Vivara creates economic value for its stakeholders https://sustaincase.com/case-study-how-vivara-creates-economic-value-for-its-stakeholders/ Fri, 08 Nov 2024 06:54:32 +0000 https://sustaincase.com/?p=19901 Vivara is the largest jewellery chain in Latin America, designing, creating, producing, marketing, and distributing its products through a network of more than 330 stores spread across all regions of Brazil and a multi-channel platform that serves more than 2,900 municipalities. This case study is based on the 2021 Sustainability Report by Vivara, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) […]

The post Case study: How Vivara creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Vivara is the largest jewellery chain in Latin America, designing, creating, producing, marketing, and distributing its products through a network of more than 330 stores spread across all regions of Brazil and a multi-channel platform that serves more than 2,900 municipalities. Generating sustainable value for its employees, the state, and all its other stakeholders, is a top priority for Vivara.  Tweet This!

This case study is based on the 2021 Sustainability Report by Vivara, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

In 2021, the economic value distributed by Vivara reached R$ 1,086,017,981. In order to create economic value for its stakeholders Vivara took action to:

  • create economic value for employees
  • create economic value for the state
  • create economic value for capital providers

What are the material issues the company has identified?

In its 2021 Sustainability Report Vivara identified a range of material issues, such as ethics and integrity, customer safety and satisfaction, environmental management and climate change. Among these, creating economic value for its stakeholders stands out as a key material issue for Vivara.

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 Vivara engages with:

Stakeholder Group
Employees
Suppliers
Investors
Customers
Associations
The community

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Vivara engaged with its stakeholders through an online consultation questionnaire.

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

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

  • Creating economic value for employees
  • In 2021, Vivara paid R$ 283,974,055 in personnel expenses.
  • Creating economic value for the state
  • In 2021, Vivara paid R$ 423,936,397 in taxes and contributions.
  • Creating economic value for capital providers
  • In 2021, Vivara paid R$ 79,617,259 in remuneration of external capital.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Vivara, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://images.vivara.com.br/Stores/sustentabilidade/Vivara_sr_2021-eng.pdf

Note to Vivara: 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 Vivara creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Amplifon creates economic value for its stakeholders https://sustaincase.com/case-study-how-amplifon-creates-economic-value-for-its-stakeholders/ Fri, 11 Oct 2024 05:58:24 +0000 https://sustaincase.com/?p=19756 Amplifon is a world leader in hearing solutions and services for skill, ability of customisation, and attention to the customer, relying on a network of over 9,300 points of sale and on the professionalism and passion of approximately 19,400 employees and collaborators in 25 countries in 5 continents. Through its business activities, Amplifon creates value for its main stakeholders (shareholders, employees, Public Administration, communities) and for anyone who has commercial relations with Amplifon (suppliers, providers of capital). This case study is based on the 2022 Sustainability Report by Amplifon, prepared in accordance with the GRI Standards, that can be found at […]

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]]> Amplifon is a world leader in hearing solutions and services for skill, ability of customisation, and attention to the customer, relying on a network of over 9,300 points of sale and on the professionalism and passion of approximately 19,400 employees and collaborators in 25 countries in 5 continents. Through its business activities, Amplifon creates value for its main stakeholders (shareholders, employees, Public Administration, communities) and for anyone who has commercial relations with Amplifon (suppliers, providers of capital).

This case study is based on the 2022 Sustainability Report by Amplifon, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

Through its work Amplifon generates shared economic value, contributing to improve the socio-economic context where it operates.  Tweet This! In order to create economic value for its stakeholders Amplifon took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for the public administration
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report Amplifon identified a range of material issues, such as quality, reliability and safety of products and services, ethical and responsible business conduct, availability and accessibility to hearing care, innovation, digitalisation and personalisation of the customer experience. Among these, creating economic value for its stakeholders stands out as a key material issue for Amplifon.

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 Amplifon engages with:

Stakeholder Group
Workforce
Hearing impaired and care givers
Franchisees and agents
Shareholders, providers of capital and financial community
Industry and consumer associations
Trade unions
Academia and medical class
Indirect suppliers and other value chain actors
Regulatory authorities and health care systems
Local and global communities
Media
Hearing aid manufacturers

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Amplifon engaged with its stakeholders through focus groups.

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

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

  • Creating economic value for employees
  • In 2022, Amplifon paid 699,549 thousand euros for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2022, Amplifon paid 76,532 thousand euros to providers of capital.
  • Creating economic value for the public administration
  • In 2022, Amplifon paid 75,160 thousand euros to the public administration.
  • Creating economic value for communities
  • In 2022, Amplifon spent 4,669 thousand euros in charitable donations and other activities in favour of communities.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by Amplifon, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://corporate.amplifon.com/content/dam/amplifon/archive/en/sustainability/sustainability-reporting/Amplifon_2022%20Sustainability%20Report_ENG.pdf

Note to Amplifon: 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 Amplifon creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How RISE creates economic value for its stakeholders https://sustaincase.com/case-study-how-rise-creates-economic-value-for-its-stakeholders/ Fri, 04 Oct 2024 05:58:03 +0000 https://sustaincase.com/?p=19716 RISE Research Institutes of Sweden is Sweden’s research institute and innovation partner. Through international collaboration with industry, academia and the public sector, RISE ensures business competitiveness and contributes to a sustainable society. Generating, through its operations, long-term value for employees, investors, public authorities and all its stakeholders, is a key priority for RISE. This case study is based on the 2022 Sustainability Report by RISE, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a […]

The post Case study: How RISE creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> RISE Research Institutes of Sweden is Sweden’s research institute and innovation partner. Through international collaboration with industry, academia and the public sector, RISE ensures business competitiveness and contributes to a sustainable society. Generating, through its operations, long-term value for employees, investors, public authorities and all its stakeholders, is a key priority for RISE.

This case study is based on the 2022 Sustainability Report by RISE, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

In 2022, the total economic value distributed by RISE reached SEK 4,566,445 thousand.  Tweet This! In order to create economic value for its stakeholders RISE took action to:

  • create economic value for employees
  • create economic value for investors
  • create economic value for public authorities
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report RISE identified a range of material issues, such as continuous development of employees’ skills, good business and research ethics, imposing sustainability requirements on suppliers. Among these, creating economic value for its stakeholders stands out as a key material issue for RISE.

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 RISE engages with:

Stakeholder Group
Trade organisations
Customer groups
Employees
Public funding bodies
Board of Directors
Owner

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2022, RISE paid SEK 2,593,357 thousand for employee salaries and benefits.
  • Creating economic value for investors
  • In 2022, RISE paid SEK 27,667 thousand to investors and SEK 16,076 thousand in interest.
  • Creating economic value for public authorities
  • In 2022, RISE paid SEK 13,754 thousand in taxes.
  • Creating economic value for communities
  • In 2022, RISE spent SEK 90 thousand in social investments.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by RISE, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.ri.se/sites/default/files/2023-04/RISE_Sustainability_Report_2022_web.pdf

Note to RISE: 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 RISE creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How ATCO creates economic value for its stakeholders https://sustaincase.com/case-study-how-atco-creates-economic-value-for-its-stakeholders/ Mon, 23 Sep 2024 05:59:03 +0000 https://sustaincase.com/?p=19648 ATCO is a diversified corporation with investments all over the globe. With more than 7,100 employees and assets totalling over $24 billion, ATCO has been “Always there. Anywhere” for 75 years. ATCO embraces a long-range outlook that builds future prosperity and value for its customers, employees, share owners, and Indigenous and community partners. This case study is based on the 2022 Sustainability Report by ATCO, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a […]

The post Case study: How ATCO creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> ATCO is a diversified corporation with investments all over the globe. With more than 7,100 employees and assets totalling over $24 billion, ATCO has been “Always there. Anywhere” for 75 years. ATCO embraces a long-range outlook that builds future prosperity and value for its customers, employees, share owners, and Indigenous and community partners.

This case study is based on the 2022 Sustainability Report by ATCO, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract 

Generating, through its operations, sustainable value for employees, suppliers, lenders and all its stakeholders, is a top priority for ATCO.  Tweet This! In order to create economic value for its stakeholders ATCO took action to:

  • create economic value for employees
  • create economic value for suppliers
  • create economic value for lenders
  • create economic value for shareholders
  • create economic value for governments
  • create economic value for communities

What are the material issues the company has identified?  

In its 2022 Sustainability Report ATCO identified a range of material issues, such as energy transition and innovation, public health and safety, climate change and GHG emissions, indigenous engagement, economic opportunity and reconciliation, emergency preparedness and response. Among these, creating economic value for its stakeholders stands out as a key material issue for ATCO.

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 ATCO engages with:

Stakeholder Group                Method of engagement
Community Residents and Landowners ·      Open houses

·      Landowner and community meetings/emails

·      ATCO EPIC (Employees Participating in Communities)

·      Community investment partnerships and programmes
Customers and Potential Customers

 

 

 ·      Face-to-face meetings

·      Website, social media

·      Customer satisfaction surveys

·      Customer service centres

·      Apps (e.g. ICWHATUC)

·      Online outage maps and notifications
Indigenous Communities

 

 ·      Face-to-face meetings

·      Project consultation

·      Relationship agreements, MOUs, JVs and other partnerships

·      Employment and training opportunities

·      Community investment opportunities

·      Community and cultural event participation and attendance
Governments and Regulators

 

 ·      Meetings with all levels of government, in all regions ATCO operates

·      Regulatory compliance

·      Active involvement in multi-stakeholder discussions
Special Interest Groups

 

 ·      Industry memberships and associations (e.g. CGA etc.)

·      Conferences and events

·      Committees
Investors and Potential Investors ·      Annual General Meetings

·      Quarterly and annual regulatory filings

·      Analyst meetings

·      Investor conferences

·      Investor days
Employees and Potential Employees

 

 ·      Townhalls and leadership communications

·      Employee engagement surveys (e.g. Pulse Surveys)

·      Career development and performance reviews

·      Employee groups, such as diversity equity and inclusion committees

·      Employee intranet

·      OneATCO Conference

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2022, ATCO paid $ 599 million for employee wages and benefits.
  • Creating economic value for suppliers
  • In 2022, ATCO paid $ 2,035 million to suppliers.
  • Creating economic value for lenders
  • In 2022, ATCO paid $ 426 million to lenders.
  • Creating economic value for shareholders
  • In 2022, ATCO paid $ 519 million to shareholders.
  • Creating economic value for governments
  • In 2022, ATCO paid $ 444 million in taxes.
  • Creating economic value for communities
  • In 2022, ATCO spent $ 8 million in donations, in-kind contributions and sponsorships.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by ATCO, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://www.canadianutilities.com/content/dam/web/canadian-utilities/our-commitment/sustainability/2022-cu-sustainability-report.pdf

Note to ATCO: 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 ATCO creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How SFS creates economic value for its stakeholders https://sustaincase.com/case-study-how-sfs-creates-economic-value-for-its-stakeholders/ Wed, 08 May 2024 06:04:03 +0000 https://sustaincase.com/?p=18995 SFS is a leading global provider of mechanical fastening systems and precision components, made up of the three segments: Engineered Components, Fastening Systems and Distribution & Logistics. This case study is based on the 2021 Sustainability Report by SFS, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. Abstract SFS’s daily mindset and actions are centred around economic […]

The post Case study: How SFS creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> SFS is a leading global provider of mechanical fastening systems and precision components, made up of the three segments: Engineered Components, Fastening Systems and Distribution & Logistics. For SFS, economic performance and the value it generates for all its stakeholders is at the centre of its daily business operations and decisions.  Tweet This!

This case study is based on the 2021 Sustainability Report by SFS, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Layout 1

Abstract

SFS’s daily mindset and actions are centred around economic performance and, therefore, on the creation of sustainable added value for all its stakeholder groups. In order to create economic value for its stakeholders SFS took action to:

  • create economic value for employees
  • create economic value for investors
  • create economic value for the government

What are the material issues the company has identified?

In its 2021 Sustainability Report SFS identified a range of material issues, such as occupational health and safety, emissions, human rights, socioeconomic compliance. Among these, creating economic value for its stakeholders stands out as a key material issue for SFS.

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 SFS engages with:

Stakeholder Group
Customer
Employees
Community/ local authorities
Supplier

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2021, SFS paid CHF 3 million in personnel expenses.
  • Creating economic value for investors
  • In 2021, SFS paid CHF5 million in dividends to shareholders and CHF 1.5 million in interest expense.
  • Creating economic value for the government
  • In 2021, SFS paid CHF7 million in tax expense and CHF 4.8 million in public levies.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

References:

This case study is based on published information by SFS, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://sustainability.sfs.biz/en/

Note to SFS: 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 SFS creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How QTC creates economic value for its stakeholders https://sustaincase.com/case-study-how-qtc-creates-economic-value-for-its-stakeholders/ Wed, 07 Feb 2024 06:55:32 +0000 https://sustaincase.com/?p=18649 QTC Energy PCL operates in the business of manufacturing and distributing transformers according to purchase orders, with a manufacturing capacity of 4,000 transformers per year. Building sustainable business growth in the long term to gain confidence and trust from all its stakeholders by creating shared value is a top priority for QTC. This case study is based on the 2021 Sustainability Report by QTC, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a […]

The post Case study: How QTC creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> QTC Energy PCL operates in the business of manufacturing and distributing transformers according to purchase orders, with a manufacturing capacity of 4,000 transformers per year. Building sustainable business growth in the long term to gain confidence and trust from all its stakeholders by creating shared value is a top priority for QTC.

This case study is based on the 2021 Sustainability Report by QTC, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

Layout 1

Abstract

QTC seeks to generate, through its operations, sustainable value for business partners, employees, and other stakeholders.  Tweet This! In order to create economic value for its stakeholders QTC took action to:

  • create economic value for employees
  • create economic value for business partners
  • create economic value for shareholders
  • create economic value for financial institutes
  • create economic value for the government
  • create economic value for the community and society

What are the material issues the company has identified?

In its 2021 Sustainability Report QTC identified a range of material issues, such as business growth, employee safety and health, risk management, employment and human rights, responsibility to goods and services. Among these, creating economic value for its stakeholders stands out as a key material issue for QTC.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

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

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups QTC engages with:

Stakeholder Group                Method of engagement
Employees ·      Monthly meeting of executives and employees

·      Suggestion activities, KAIZEN, QCC

·      Listening to employee opinions and complaints

·      Monthly Welfare Committee meetings

·      Monthly Safety Committee meetings

·      Annual employee happiness surveys

·      Annual corporate affection and attachment surveys

·      Quarterly corporate risk assessments

·      Annual safety risk assessments

·      Annual environmental impact assessments
Board of Directors

 

 ·      Board of Directors’ meetings

·      Board of Audit meetings

·      Nomination Committee meetings
Shareholders/ Investors

 

 ·      Annual meetings of shareholders

·      Quarterly performance announcements

·      Financial analysts’ meetings

·      Registered companies meet investors

·      Invitations for investors to visit factories
Customers

 

 

 ·      Meet-ups with customers/ retailers

·      Product exhibitions

·      Customer/retailer satisfaction surveys

·      Technical knowledge provision to customers/ retailers

·      Opportunities for customers/ retailers to observe production processes

·      Joint activities with customers/retailers

·      Contract terms

·      Inquiries
Trade Competitors

 

 ·      Meetings and conversations

·      News and information

·      Group member meetings

·      Marketing activities
Trade Partners

 

 

 ·      Annual deliverer and contractor evaluations

·      Production process and raw material quality inspections and discussions for improvement

·      Inquire about goals of brand owners/product manufacturers

·      Attend meetings

·      Participate in activities organised by the brand owner/product manufacturer

·      Participate in trainings and testing according to the product owner’s criteria
Waste Disposers ·      Exchanges of knowledge about legal specifications and correct practices
Creditors

 

 ·      Meetings and discussions

·      Quarterly performance announcements

·      Shareholder meetings
Trade Accounts Receivable ·      Meetings and discussions
Mass Media ·      Meetings with mass media at different occasions
Government Agencies

 

 ·      Meetings and explanations of government agencies

·      Business inspections and visits

·      Conditions pursuant to the law

·      News and information
Community and Society

 

 ·      Organising activities with communities/society

·      Participation on community and social development

·      Annual public hearing activities where communities meet with QTC

·      Annual public hearing activities where communities meet with the power plant

·      News and information

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics QTC engaged with its stakeholders through interviews, questionnaires, and official and unofficial discussions.

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

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

  • Creating economic value for employees
  • In 2021, QTC paid 167.07 million Baht for Directors, Executive Directors and employees’ salaries, wages and benefits.
  • Creating economic value for business partners
  • In 2021, QTC paid 600.09 million Baht to business partners.
  • Creating economic value for shareholders
  • In 2021, QTC paid 68.22 million Baht in dividends for shareholders.
  • Creating economic value for financial institutes
  • In 2021, QTC paid 1.26 million Baht in interest.
  • Creating economic value for the government
  • In 2021, QTC paid 21.95 million Baht in taxes.
  • Creating economic value for the community and society
  • In 2021, QTC spent 0.93 million Baht in social investments.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.

 

References:

This case study is based on published information by QTC, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://qtc-energy.com/wp-content/uploads/2022/04/QTC-SD-Report-2021-eng-Final.pdf

Note to QTC: 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 QTC creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How SATS creates economic value for its stakeholders https://sustaincase.com/case-study-how-sats-creates-economic-value-for-its-stakeholders/ Fri, 05 Jan 2024 07:03:05 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15654 SATS Group is the leading provider of fitness and training services in the Nordics with over 260 clubs, close to 9 000 employees and nearly 670 000 members. This case study is based on the 2021 Sustainability Report by SATS, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.  SATS seeks to listen, learn and collaborate closely […]

The post Case study: How SATS creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> SATS Group is the leading provider of fitness and training services in the Nordics with over 260 clubs, close to 9 000 employees and nearly 670 000 members. Generating, through its operations, long-term value for all its stakeholders, is a top priority for SATS.  Tweet This!

This case study is based on the 2021 Sustainability Report by SATS, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

SATS seeks to listen, learn and collaborate closely with its stakeholders, creating sustainable value for all. In order to create economic value for its stakeholders SATS took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for the government

What are the material issues the company has identified?

In its 2021 Sustainability Report SATS identified a range of material issues, such as energy management, diversity, equality and inclusion, business ethics and integrity, employee safety. Among these, creating economic value for its stakeholders stands out as a key material issue for SATS.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

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

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups SATS engages with:

Stakeholder Group
Employees
Members
Board of Directors
Investors and analysts
Creditors
Public authorities
Suppliers
Media
Local communities

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2021, SATS paid NOK 1 399 million for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2021, SATS paid NOK 298 million to providers of capital.
  • Creating economic value for the government
  • In 2021, SATS paid NOK 70 million to the government.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by SATS, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://satsgroup.com/wp-content/uploads/2022/03/SATS-ASA-Sustainability-Report-2021.pdf

Note to SATS: 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 SATS creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Grieg Seafood creates economic value for its stakeholders https://sustaincase.com/case-study-how-grieg-seafood-creates-economic-value-for-its-stakeholders/ Wed, 03 Jan 2024 07:11:24 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15647 Grieg Seafood is one of the world’s leading salmon farming companies, targeting 90,000 tonnes of harvest in 2022 and 130,000 tonnes in 2025. Combining decades of experience with new technologies, knowledge and data driven intelligence, This case study is based on the 2021 Annual Report by Grieg Seafood, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.  […]

The post Case study: How Grieg Seafood creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Grieg Seafood is one of the world’s leading salmon farming companies, targeting 90,000 tonnes of harvest in 2022 and 130,000 tonnes in 2025. Combining decades of experience with new technologies, knowledge and data driven intelligence, Grieg Seafood seeks to create sustainable value for all stakeholders.  Tweet This!

This case study is based on the 2021 Annual Report by Grieg Seafood, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.   

Beyond short-term profitability, Grieg Seafood is committed to sustainable and long-term value creation for all of its stakeholders. In order to create economic value for its stakeholders Grieg Seafood took action to:

  • create economic value for employees
  • create economic value for providers of capital
  • create economic value for the government

What are the material issues the company has identified?

In its 2021 Annual Report Grieg Seafood identified a range of material issues, such as employee health & safety, fish health & welfare, protecting biodiversity & marine ecosystems, responsible business conduct, carbon emissions. Among these, creating economic value for its stakeholders stands out as a key material issue for Grieg Seafood.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

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

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Grieg Seafood engages with:

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

Stakeholder Group                Method of engagement
National authorities/ regulators ·      Meetings

·      Site visits

·      Correspondence
Local authorities/ communities

 

 ·      Dialogue with special interest groups locally

·      Open meetings

·      Site visits

·      Dialogue through mainstream media and digital channels
Stakeholder organisations/ non-governmental organisations ·      Correspondence

·      Meetings

·      Media and social media
Shareholders, investors, asset managers and analysts ·      Quarterly presentations

·      Roadshows

·      Meetings

·      Frequent dialogue

·      Capital market days

·      Engagement with relevant indexes
Customers ·      Customer surveys

·      Frequent dialogue

·      Audits

·      Visits

·      Trade fairs
Employees ·      Continuous dialogue and meetings

·      Intranet

·      Employee surveys
Suppliers ·      Dialogue

·      Meetings

·      Conferences and correspondence

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

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

  • Creating economic value for employees
  • In 2021, Grieg Seafood paid NOK 577 million for salaries and personnel expenses.
  • Creating economic value for providers of capital
  • In 2021, Grieg Seafood paid NOK 200 million in net interest and other financial items.
  • Creating economic value for the government
  • In 2021, Grieg Seafood paid NOK 249 million in income tax.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Grieg Seafood, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://cdn.sanity.io/files/1gakia31/production/8699f764225f2b441044453452ada7923cca1994.pdf

Note to Grieg Seafood: 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 Grieg Seafood creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Case study: How Parex creates economic value for its stakeholders https://sustaincase.com/case-study-how-parex-creates-economic-value-for-its-stakeholders/ Wed, 03 Jan 2024 07:08:54 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15650 Parex is the largest independent oil and gas exploration and production company in Colombia, focused on growing its reserves and production through safe, sustainable exploration and development. This case study is based on the 2021 Sustainability Report by Parex, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.  Parex’s investments in oil and gas exploration and development […]

The post Case study: How Parex creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]> Parex is the largest independent oil and gas exploration and production company in Colombia, focused on growing its reserves and production through safe, sustainable exploration and development. Growing its business and generating sustainable value for all its stakeholders, is a top priority for Parex.  Tweet This!

This case study is based on the 2021 Sustainability Report by Parex, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing. 

Parex’s investments in oil and gas exploration and development activities generate economic value, allowing Parex to deliver returns to shareholders, pay taxes, strengthen local businesses’ capabilities, create employment, and generate long-term benefits for communities. In order to create economic value for its stakeholders Parex took action to:

  • create economic value for employees
  • create economic value for the government
  • create economic value for society

What are the material issues the company has identified?

In its 2021 Sustainability Report Parex identified a range of material issues, such as corporate governance and ethics, community investment/ relations, water stewardship, health and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for Parex.

Stakeholder engagement in accordance with the GRI Standards

The Global Reporting Initiative (GRI) defines the Principle of Stakeholder Inclusiveness when identifying material issues (or a company’s most important impacts) as follows:

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

Stakeholders must be consulted in the process s of identifying a company’s most important impacts and their reasonable expectations and interests must be taken into account. This is an important cornerstone for CSR / sustainability reporting done responsibly.

Key stakeholder groups Parex engages with:

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

Stakeholder Group                Method of engagement
Media ·      Press releases

·      Information meetings

·      Corporate website

·      Compliance with information request
Community ·      Information meetings and projects socialisations

·      Consultation meeting and social investment monitoring meetings
Contractors and suppliers ·      Audits

·      Abastece Platform
Authorities ·      Information, coordination meetings
Civil society ·      Corporate website

·      Information meetings
Employees ·      Intranet

·      COPASST (Joint Committee on Health and Safety at Work)

·      Town hall meetings
Customers ·      Corporate website

·      Information meetings
Partners ·      Periodic reports

·      Coordination meetings
Investors and shareholders ·      Quarterly business performance reports

·      Website

·      Investor conferences

·      Press releases

·      Annual General Meeting

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

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

  • Creating economic value for employees
  • In 2021, Parex paid $62.40 million for employee salaries and benefits.
  • Creating economic value for the government
  • In 2021, Parex paid $147.36 million in royalties and $53.48 million in taxes.
  • Creating economic value for society
  • In 2021, Parex spent $3.97 million in social investments.

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

The GRI Standard addressed in this case is: Disclosure 201-1 Direct economic value generated and distributed

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

 

78% of the world’s 250 largest companies report in accordance with the GRI Standards

SustainCase was primarily created to demonstrate, through case studies, the importance of dealing with a company’s most important impacts in a structured way, with use of the GRI Standards. To show how today’s best-run companies are achieving economic, social and environmental success – and how you can too.

Research by well-recognised institutions is clearly proving that responsible companies can look to the future with optimism.

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

GRI, ISEP, CPD Certified Sustainability courses (2-5 days): Live Online or Classroom  (venue: London School of Economics)

  • Exclusive FBRH template to begin reporting from day one
  • Identify your most important impacts on the Environment, Economy and People
  • Formulate in group exercises your plan for action. Begin taking solid, focused, all-round sustainability action ASAP. 
  • Benchmarking methodology to set you on a path of continuous improvement

See upcoming training dates.
References:

This case study is based on published information by Parex, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://parexresources.com/wp-content/uploads/2022/10/IS-PAREX-2021-FINAL-INGLES.pdf

Note to Parex: 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 Parex creates economic value for its stakeholders appeared first on SustainCase - Sustainability Magazine.

]]>