What are the material issues the company has identified?  

In its 2021 Sustainability Report Loma Negra identified a range of material issues, such as ethics & anticorruption, occupational health & safety, environmental compliance, training & development of human capital. Among these, creating economic value for its stakeholders stands out as a key material issue for Loma Negra.

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 Loma Negra engages with:

Stakeholder Group	Method of engagement
Employees	·      Email ·      Corporate WhatsApp groups ·      Digital and physical billboards ·      Dialog cycle ·      Results meetings
Clients	·      Website ·      Sustainability report ·      LomaNet portal ·      Meetings with commercial representatives and the WhatsApp BOT
Suppliers	·      Visits to plants ·      Website ·      Telephone line ·      Sustainability report ·      Face-to-face and/or virtual meetings with buyers
Trade unions	·      Face-to-face meetings with Human Resources Directors ·      Telephone calls ·      Hearings
Construction industry companies	·      Virtual or face-to-face meetings in associations or chambers of the sector
Chambers and associations	·      Participation of work areas ·      Board of directors (AFCP) ·      Webinars
Investors and market analysts	·      Results report ·      Email ·      Meetings and conferences
Government entities	·      Email ·      Virtual and face-to-face meetings ·      Meetings with municipal, provincial and national officials
CSOs (NGOs, Educational Institutions, Universities, Institutes and Government)	·      Community Development Council (CDC) ·      Face-to-face meetings ·      Email ·      CIVICOs and volunteers ·      Groups of foundations and chambers of the sector ·      Other companies ·      WhatsApp phone ·      Work groups ·      Agreements and specific agreements
Communities	·      Visits to plants ·      Website ·      Telephone line ·      Media networks ·      Sustainability report ·      Foundation’s management report
Communication media	·      Telephone line ·      Social networks ·      Email ·      WhatsApp ·      Face -to-face and virtual meetings ·      Interviews ·      Press conference

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics Loma Negra engaged with its stakeholders through an email explaining the materiality process for preparing the report and requesting stakeholders to focus on material topics.

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

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

• Creating economic value for employees
• In 2021, Loma Negra paid ARS 8,322 million for employee salaries and benefits.

• Creating economic value for capital providers
• In 2021, Loma Negra paid ARS 4,331 million to capital providers.

• Creating economic value for the government
• In 2021, Loma Negra paid ARS 15,110 million to the government.

• Creating economic value for communities
• In 2021, Loma Negra spent ARS 45 million 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 Loma Negra, 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.lomanegra.com/wp-content/uploads/2022/03/2021-Sustainability-Report-Loma-Negra.pdf

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