RISE 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, 04 Oct 2024 05:58:58 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Case study: How RISE creates economic value for its stakeholders https://sustaincase.com/case-study-how-rise-creates-economic-value-for-its-stakeholders/ Fri, 04 Oct 2024 05:58:03 +0000 https://sustaincase.com/?p=19716 RISE Research Institutes of Sweden is Sweden’s research institute and innovation partner. Through international collaboration with industry, academia and the public sector, RISE ensures business competitiveness and contributes to a sustainable society. Generating, through its operations, long-term value for employees, investors, public authorities and all its stakeholders, is a key priority for RISE. This case study is based on the 2022 Sustainability Report by RISE, 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 […]

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]]> RISE Research Institutes of Sweden is Sweden’s research institute and innovation partner. Through international collaboration with industry, academia and the public sector, RISE ensures business competitiveness and contributes to a sustainable society. Generating, through its operations, long-term value for employees, investors, public authorities and all its stakeholders, is a key priority for RISE.

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

In 2022, the total economic value distributed by RISE reached SEK 4,566,445 thousand.  Tweet This! In order to create economic value for its stakeholders RISE took action to:

  • create economic value for employees
  • create economic value for investors
  • create economic value for public authorities
  • create economic value for communities

What are the material issues the company has identified?

In its 2022 Sustainability Report RISE identified a range of material issues, such as continuous development of employees’ skills, good business and research ethics, imposing sustainability requirements on suppliers. Among these, creating economic value for its stakeholders stands out as a key material issue for RISE.

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 RISE engages with:

Stakeholder Group
Trade organisations
Customer groups
Employees
Public funding bodies
Board of Directors
Owner

How stakeholder engagement was made to identify material issues

To identify and prioritise material topics RISE engaged with its stakeholders through an online survey.

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

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

  • Creating economic value for employees
  • In 2022, RISE paid SEK 2,593,357 thousand for employee salaries and benefits.
  • Creating economic value for investors
  • In 2022, RISE paid SEK 27,667 thousand to investors and SEK 16,076 thousand in interest.
  • Creating economic value for public authorities
  • In 2022, RISE paid SEK 13,754 thousand in taxes.
  • Creating economic value for communities
  • In 2022, RISE spent SEK 90 thousand in social 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 RISE, 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.ri.se/sites/default/files/2023-04/RISE_Sustainability_Report_2022_web.pdf

Note to RISE: 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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