What are the material issues the company has identified? 

In its 2021 Sustainability Report Cambiaso Risso Marine identified a range of material issues, such as service quality and customer satisfaction, ethics and compliance, internationalisation, corporate welfare. Among these, creating economic value for its stakeholders stands out as a key material issue for Cambiaso Risso Marine.

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 Cambiaso Risso Marine engages with:

To identify and prioritise material topics Cambiaso Risso Marine engaged with its stakeholders through the following channels:

Stakeholder Group	Method of engagement
Customers	·      Events and expos ·      Website and social network
Shareholders	·      Periodic meetings
Operating partner	·      Specific meetings/ events ·      Social network
Employees and associates	·      Periodic meetings ·      Internal communication initiatives ·      Intranet ·      “Laboratory”: Body aimed at ensuring an open dialogue between top management and employees through bi-monthly meetings ·      Team building activities
Outsourced consultants	·      Periodic meetings ·      Website and social network
Financial community	·      Periodic meetings ·      Sharing events ·      Website and social network
Community and territory	·      Projects/ initiatives in favour of the territory
Agents	·      Periodic meetings ·      Website and social network
Associations	·      Periodic meetings ·      Participation in covering bodies ·      Website and social network
Suppliers	·      Periodic meetings ·      Sharing the Code of Ethics
Institutions and public administrations	·      Periodic meetings with representatives of local and public administration institutions and bodies

What actions were taken by Cambiaso Risso Marine to create economic value for its stakeholders?

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

• Creating economic value for employees
• In 2021, Cambiaso Risso Marine paid 8.063 million euros for employee salaries and benefits.

• Creating economic value for suppliers
• In 2021, Cambiaso Risso Marine paid 3.298 million euros to suppliers.

• Creating economic value for providers of capital
• In 2021, Cambiaso Risso Marine paid 218 million euros to providers of capital.

• Creating economic value for the public administration
• In 2021, Cambiaso Risso Marine paid 2.063 million euros to the public administration.

• Creating economic value for communities
• In 2021, Cambiaso Risso Marine spent 252 million euros in community investments.

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

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

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

• Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth
• Targets: 8.1, 8.2
• Sustainable Development Goal (SDG) 9: Industry, Innovation and Infrastructure
• Targets: 9.1, 9.4, 9.5

 

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

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

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

7 GRI sustainability disclosures get you started

Any size business can start taking sustainability action

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

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

See upcoming training dates.

References:

This case study is based on published information by Cambiaso Risso Marine, 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.cambiasorisso.com/wp-content/uploads/2023/01/BDS_2021_ENG-gennaio22.pdf

Note to Cambiaso Risso Marine: 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.