Arcor Group Archives - SustainCase - Sustainability Magazine 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... Wed, 17 May 2023 05:51:22 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 Case study: How Arcor Group creates economic value for its stakeholders https://sustaincase.com/case-study-how-arcor-group-creates-economic-value-for-its-stakeholders/ Wed, 17 May 2023 05:49:54 +0000 https://sustaincase.com/?p=17824 Arcor Group is the leading food company and one of the largest sugar producers in Argentina, as well as the world’s leading producer of hard candy. Establishing trusting and lasting relationships with its stakeholders throughout its value chain, creating sustainable value for all, is a top priority for Arcor Group. This case study is based on the 2020 Sustainability Report by Arcor Group, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s […]

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]]> Arcor Group is the leading food company and one of the largest sugar producers in Argentina, as well as the world’s leading producer of hard candy. Establishing trusting and lasting relationships with its stakeholders throughout its value chain, creating sustainable value for all, is a top priority for Arcor Group.

This case study is based on the 2020 Sustainability Report by Arcor Group, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim to demonstrate what CSR/ ESG/ sustainability reporting done responsibly means. Essentially, it means: a) identifying a company’s most important impacts on the environment, economy and society, and b) measuring, managing and changing.

Abstract

True to its entrepreneurial spirit, Arcor Group always takes on new challenges that allow it to grow and generate long-term value for a wide range of stakeholders.  Tweet This! In order to create economic value for its stakeholders Arcor Group took action to:

  • create economic value for employees
  • create economic value for the government
  • create economic value for capital suppliers

What are the material issues the company has identified?

In its 2020 Sustainability Report Arcor Group identified a range of material issues, such as preservation of resources and biodiversity, quality and customer satisfaction, safety and hygiene, local communities. Among these, creating economic value for its stakeholders stands out as a key material issue for Arcor Group.

Stakeholder engagement in accordance with the GRI Standards              

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

“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 Arcor Group engages with:   

Stakeholder Group
Government and Society
Media and opinion leaders
Shareholders
Collaborators
Suppliers and Customers
Community
Consumers

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics, Arcor Group carried out meetings with its key stakeholders.

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

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

  • Creating economic value for employees
  • In 2020, Arcor Group paid 40,431.9 million pesos for employee salaries, wages and social security contributions.
  • Creating economic value for the government
  • In 2020, Arcor Group paid 9,372.3 million pesos in taxes (direct taxes, export rights, taxes, fees and contributions, income tax).
  • Creating economic value for capital suppliers
  • In 2020, Arcor Group paid 10,873.8 million pesos to capital suppliers.

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 Arcor Group, located at the link below. For the sake of readability, we did not use brackets or ellipses. However, we made sure that the extra or missing words did not change the report’s meaning. If you would like to quote these written sources from the original please revert to the following link:

https://imagen.arcor.com/ingles/sustainability-report-2020.pdf

Note to Arcor Group: With each case study we send out an email requesting a comment on this case study. If you have not received such an email please contact us.

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