GCC 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... Wed, 27 Nov 2024 06:56:05 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 Case study: How GCC creates economic value for its stakeholders https://sustaincase.com/case-study-how-gcc-creates-economic-value-for-its-stakeholders/ Wed, 27 Nov 2024 06:55:23 +0000 https://sustaincase.com/?p=20008 Founded in Chihuahua, Mexico in 1941, GCC is a vertically integrated company with a global and sustainable approach operating in the United States, Mexico, and Canada, engaged in the production, marketing and distribution of gray portland cement, ready-mix concrete, aggregates, coal and construction-related services. This case study is based on the 2022 Sustainability Report by GCC, 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 […]

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]]> Founded in Chihuahua, Mexico in 1941, GCC is a vertically integrated company with a global and sustainable approach operating in the United States, Mexico, and Canada, engaged in the production, marketing and distribution of gray portland cement, ready-mix concrete, aggregates, coal and construction-related services. Long-term value creation for all its stakeholders, is a top priority for GCC.  Tweet This!

This case study is based on the 2022 Sustainability Report by GCC, 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 

GCC seeks, through its operations, to generate sustainable value for employees, providers of capital, communities, and all its stakeholders. In order to create economic value for its stakeholders GCC 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 2022 Sustainability Report GCC identified a range of material issues, such as climate change and GHGs, health and safety, energy management, product quality and safety. Among these, creating economic value for its stakeholders stands out as a key material issue for GCC.

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 GCC engages with:

Stakeholder Group                Method of engagement
GCC Family

 

 ·      Safety talks

·      Humand

·      Team meetings

·      Surveys

·      Negotiations

·      One-on-one meetings

·      Corporate website

·      Project assignments
Suppliers

 

 ·      Surveys

·      Negotiations

·      RFP/RFQ

·      Corporate website

·      Information requests

·      Coupa Portal

·      Suppliers Portal
Customers

 

 ·      Surveys

·      Industry associations

·      Formal market research

·      Corporate website

·      Product information

·      One-on-one engagement
Investors

 

 ·      Annual, extraordinary or one-on-one meetings

·      Telephone calls

·      Investor conferences

·      Road shows

·      Website

·      Quarterly reports and conference calls
Government Relations & NGOs

 

 ·      Presentations

·      Website

·      Meetings

·      Industry associations

·      Third party audits

·      Multi-stakeholder forums

·      Permitting processes

·      Lobbying

·      Public meetings

·      Participation in local events
Communities

 

 ·      Participation in local events

·      Site tours

·      Website

·      Public meetings

·      Citizen advisory groups (U.S.)

·      Permitting processes

·      Donations (monetary and in kind)

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics GCC engaged with its stakeholders through a survey.

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

In its 2022 Sustainability Report GCC reports that it took the following actions for creating economic value for its stakeholders:

  • Creating economic value for employees
  • In 2022, GCC paid USD 196.2 million for employee wages and benefits.
  • Creating economic value for providers of capital
  • In 2022, GCC paid USD 37.6 million to providers of capital.
  • Creating economic value for the government
  • In 2022, GCC paid USD 26.9 million to the government.
  • Creating economic value for communities
  • In 2022, GCC spent USD 1.0 million in community investments (donations).

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 GCC, 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.gcc.com/wp-content/uploads/2023/07/GCC-Sustainability-Report-2022-MF-V2.pdf

Note to GCC: 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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