Dimand 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... Fri, 24 May 2024 06:03:26 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 Case study: How Dimand creates economic value for its stakeholders https://sustaincase.com/case-study-how-dimand-creates-economic-value-for-its-stakeholders/ Fri, 24 May 2024 06:02:36 +0000 https://sustaincase.com/?p=19127 Dimand S.A. is a specialised real estate developer, offering highly integrated services across the full property lifecycle. Sustainable development is at the heart of Dimand’s business model, as it seeks to create fairly distributed and long-lasting value for the company, Dimand’s business partners and the society in which Dimand operates. This case study is based on the 2021 ESG Report by Dimand, 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 […]

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]]> Dimand S.A. is a specialised real estate developer, offering highly integrated services across the full property lifecycle. Sustainable development is at the heart of Dimand’s business model, as it seeks to create fairly distributed and long-lasting value for the company, Dimand’s business partners and the society in which Dimand operates.

This case study is based on the 2021 ESG Report by Dimand, 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

Dimand implements a flexible and successful business model, in order to create sustainable value for both the company and all its stakeholders.  Tweet This! In order to create economic value for its stakeholders Dimand took action to:

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

What are the material issues the company has identified?

In its 2021 ESG Report Dimand identified a range of material issues, such as health and safety, ethics, transparency and compliance, greenhouse gases and air emissions, green building certifications. Among these, creating economic value for its stakeholders stands out as a key material issue for Dimand.

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 Dimand engages with: 

Stakeholder Group
Employees
Tenants / Customers
Contractors, suppliers and business partners
Business consultants, technical consultants and designers
Shareholders and investors
Rating agencies, banks and financial institutions
Governmental and regulatory authorities
Local communities, Municipal authorities and Non-Governmental Organisations (NGOs)
Opinion leaders in Media and Academia

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Dimand engaged with its stakeholders through online surveys.

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

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

  • Creating economic value for employees
  • In 2021, Dimand paid € 2,461,109.18 for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2021, Dimand paid € 887,537.55 to providers of capital.
  • Creating economic value for the government
  • In 2021, Dimand paid € 284,684.46 to the government.
  • Creating economic value for communities
  • In 2021, Dimand spent € 126,500.00 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 Dimand, 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://dimand.gr/wp/wp-content/uploads/2022/09/DIMAND-ESG-Report-2021_EN.pdf  

Note to Dimand: 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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