What are the material issues the company has identified?

In its 2021 Sustainability Progress Report CEME identified a range of material issues, such as energy and GHG emissions, employees’ health and safety, waste management, people training and development. Among these, creating economic value for its stakeholders stands out as a key material issue for CEME.

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 CEME engages with:

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

Stakeholder Group	Method of engagement
Employees	·      Continuous dialogue between the HR department and employees ·      Specific initiatives
Suppliers	·      Continuous dialogue
Commercial partners	·      Continuous dialogue ·      Periodic meetings
Local communities	·      Continuous dialogue ·      Formal meetings and collaborations ·      Specific initiatives
Competitors	·      None
Clients	·      Continuous dialogue ·      Periodic meetings ·      Cooperation on R&D of new products ·      Fairs
Investors	·      Formal meetings ·      Periodic management reports
Regulatory and certification bodies	·      Formal meetings ·      Continuous dialogue
Unions	·      Continuous dialogue between the HR department and the Unions
Public administration	·      Formal, continuous dialogue

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

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

• Creating economic value for employees
• In 2021, CEME paid € 24,690 thousand for employee wages and benefits.

• Creating economic value for providers of capital
• In 2021, CEME paid € 9,955 thousand to providers of capital.

• Creating economic value for the government
• In 2021, CEME paid € 13,410 thousand to the government.

• Creating economic value for communities
• In 2021, CEME spent € 2 thousand 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.

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References:

This case study is based on published information by CEME, 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.cemegroup.com/Content/images/certificati/CEME_Sustainability_Progress_Report_2021.pdf

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