Migros 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... Mon, 04 Dec 2023 06:57:05 +0000 en-US hourly 1 https://wordpress.org/?v=7.0.2 Case study: How Migros creates economic value for its stakeholders https://sustaincase.com/case-study-how-migros-creates-economic-value-for-its-stakeholders/ Mon, 04 Dec 2023 06:57:05 +0000 https://ccprowebs.com/new-sustaincase.com/?p=15593 With physical stores operating in 81 provinces of Türkiye and online channels, Migros offers a wide range of product portfolio supporting the budget, health and social life of its customers, and provides innovative solutions adding speed, convenience and value to their daily life. Migros’s business conduct approach is based on its understanding of “sustainability”, which Migros adopted according to the goal of creating value for all its stakeholders. This case study is based on the 2021 Integrated Report by Migros, prepared in accordance with the GRI Standards, that can be found at this link. Through all case studies we aim […]

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]]> With physical stores operating in 81 provinces of Türkiye and online channels, Migros offers a wide range of product portfolio supporting the budget, health and social life of its customers, and provides innovative solutions adding speed, convenience and value to their daily life. Migros’s business conduct approach is based on its understanding of “sustainability”, which Migros adopted according to the goal of creating value for all its stakeholders.

This case study is based on the 2021 Integrated Report by Migros, 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. 

Generating value for all its stakeholders through its eco-friendly and community-focused operational approach is a top priority for Migros.  Tweet This! In order to create economic value for its stakeholders Migros took action to:

  • create economic value for employees
  • create economic value for suppliers
  • create economic value for governments

What are the material issues the company has identified?

In its 2021 Integrated Report Migros identified a range of material issues, such as good and trustworthy customer experience, innovative applications, health and safety of employees, transparent, responsible and ethical governance for a sustainable ecosystem. Among these, creating economic value for its stakeholders stands out as a key material issue for Migros.

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 Migros engages with:

Stakeholder Group                Method of engagement
Society and Customers ·      Migros Call Centre and WhatsApp line

·      Social Media

·      Consumer Researches
Employees

 

 ·      Internal Communication Practices

·      Recruitment Assessment Survey

·      Working Life Assessment Research

·      Migros Sharing Hotline
Shareholders & Investors

 

 

 

 ·      General Assembly Meeting

·      PDP (Public Disclosure Platform) Announcements

·      Corporate Governance Principles Compliance Report

·      Website

·      Annual Report
Supply Chain

 

 

 ·      Migros Business Partners Summit

·      MeCom/MeMobil (B2B) applications

·      Meetings (GAP-Good Agricultural Practices-supplier incentive meetings, etc.)
Governmental Agencies

 

 

 ·      Meetings and requests for opinions

·      Audits

·      Communication with the Municipalities and Ministries

·      Applications for Permits and Licenses
Organisations of the Industry ·      Meetings and Requests for Opinions

 

How stakeholder engagement was made to identify material issues

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

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

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

  • Creating economic value for employees
  • In 2021, Migros paid TRYl 3,308,763 thousand for employee wages and benefits.
  • Creating economic value for suppliers
  • In 2021, Migros paid TRYl 27,517,740 thousand to suppliers.
  • Creating economic value for governments
  • In 2021, Migros paid TRYl 614,796 thousand to governments.

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 Migros, 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://migroskurumsalstr.blob.core.windows.net/migroskurumsalstr/migros-integrated-report-2021-637939880552430601.pdf?v4

Note to Migros: 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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