What are the material issues the company has identified? 

In its 2019-20 Sustainability Report EML identified a range of material issues, such as GHG emissions and emissions to air, attraction and retention of talent, responsible supply chain, occupational health and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for EML.

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 EML engages with:

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

Stakeholder Group	Method of engagement
Employees	·      Awareness training ·      Performance appraisals ·      Annual employee satisfaction survey ·      Grievance redressal mechanism
Consumers	·      Customer satisfaction survey ·      Market surveys ·      Rides & events
Suppliers	·      Supplier meets ·      Training and awareness programmes ·      Pre-onboarding & Periodic Assessments
Dealers	·      Dealer meets ·      Marketing communications
Investors	·      Press releases and publications ·      Investor meets ·      AGM ·      One to one meeting
Bankers	·      One-to-one meeting ·      Press releases ·      Emails and calls
Local communities	·      Community outreach programmes ·      Press releases and publications
Peers and industry ecosystem	·      Industry associations – memberships ·      External conferences ·      Press releases
Government and regulatory bodies	·      Mandatory compliance reports ·      Onsite inspections ·      One-to-one meeting

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

In its 2019-20 Sustainability Report EML reports that it took the following actions for creating economic value for its stakeholders:

• Creating economic value for employees
• In FY 2019-20, EML paid INR 765.1 for employee wages and benefits.

• Creating economic value for providers of capital
• In FY 2019-20, EML paid INR 683.3 to providers of capital.

• Creating economic value for the government
• In FY 2019-20, EML paid INR 628.3 to the government.

• Creating economic value for communities
• In FY 2019-20, EML spent INR 55.4 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 EML, 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.eicher.in/content/dam/eicher-motors/investor/corporate-governance/sustainability-report/Sustainability Report 2019-20.pdf

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