Atlas Copco 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... Mon, 11 Sep 2023 05:51:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How Atlas Copco creates economic value for its stakeholders https://sustaincase.com/case-study-how-atlas-copco-creates-economic-value-for-its-stakeholders/ Mon, 11 Sep 2023 05:51:17 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15372 The Atlas Copco Group is a world-leading provider of sustainable productivity solutions demanded by all types of industries, enabling everything from industrial automation to reliable medical air solutions. in a way that is economically, environmentally and socially responsible. This case study is based on the 2021 Annual Report by Atlas Copco, 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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]]> The Atlas Copco Group is a world-leading provider of sustainable productivity solutions demanded by all types of industries, enabling everything from industrial automation to reliable medical air solutions. An integrated sustainable strategy, backed by ambitious targets, helps Atlas Copco deliver greater value to all its stakeholders  Tweet This! in a way that is economically, environmentally and socially responsible.

This case study is based on the 2021 Annual Report by Atlas Copco, 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. 

By integrating sustainability into its operations and by acting in an ethical way in all activities and markets, Atlas Copco brings long-term value to its customers and society as a whole. In order to create economic value for its stakeholders Atlas Copco 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 Atlas Copco identified a range of material issues, such as business integrity, product quality and service, occupational health, safety and well-being, product carbon impact. Among these, creating economic value for its stakeholders stands out as a key material issue for Atlas Copco.

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 Atlas Copco engages with:

Stakeholder Group                Method of engagement
Customers ·      Customer visits

·      Surveys and interviews

·      Customer events

·      Website
Investors, analysts, shareholders

 

 

 ·      Investor interaction

·      Capital market days

·      Annual general meeting

·      Website

·      Financial reports and presentations
Employees

 

 

 

 ·      Yearly appraisal

·      Employee surveys

·      Work councils

·      Employee representatives on the Board
Society

 

 ·      Memberships in international collaborations and industry initiatives

·      Local engagement

·      Website

·      Surveys and interviews
Business partners

 

 

 ·      Collaborations with suppliers

·      On-site evaluation and audits

·      Surveys and interviews

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2021, Atlas Copco paid MSEK 27 151 for employee wages and benefits, including other social costs.
  • Creating economic value for providers of capital
  • In 2021, Atlas Copco paid MSEK 9 281 to providers of capital.
  • Creating economic value for the government
  • In 2021, Atlas Copco paid MSEK 5 372 in direct taxes.

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

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

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

 

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 Atlas Copco, 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.atlascopcogroup.com/content/dam/atlas-copco/corporate/documents/investors/financial-publications/english/20220321-annual-report-2021.pdf

Note to Atlas Copco: 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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