GRI Standards for Sustainability Reporting in Timberwell Construction

Governance, Ethics and Sustainability 1
GOVERNANCE ETHICS AND SUSTAINABILITY
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Governance, Ethics and Sustainability 2
Introduction
This paper provide a set of GRI standards about the Sustainability Reporting
Standards for Timberwell Construction. In this sense, the paper has been structured in
compliance to the Global Sustainability Board. Importantly, the aim of this article is to give
the basis for application that use GRI standards to report about the social, economic as well
as environmental impacts (Dienes, Sassen, & Fischer, 2016). The GRI standards forms a
foundation for Timberwell Construction together with its shareholders in which the social,
economic and environmental impacts toward the corporation can be interconnected.
(A) Economic Sustainability
Disclosure 201-2: Financial implications and other risks and opportunities to
climate change
As a result of Timberwell Construction operations working in amenability with the
prospects and risks owing to climate change which have the probability to cause gigantic
transformations on its functionalities, expenses as well as returns. In connection to that,
Timberwell Construction has provided an explanation about the risks and opportunities by
categorising them into different categories as regulatory and physical. Regard the changes led
by climate change and global warming effects such as the heightened cases of bushfires, the
Stanwell board has developed a plan connected to revising the local environmental plan to
see to it that it can rezone particular regions within Stanwell districts particularly those that
are prone to bush fires (Ehnert, Parsa, Roper, Wagner, & Muller-Camen, 2016).
During compiling of information based on the Disclosure 201-2 Timberwell
Construction has a progression site within Stanwell districts, which is situated in a region that
is supposed to be rezoned because of being prone to bush fires. This report is in accordance to
the local environmental plan amendment. However, these novel regulations are likely to cost

Governance, Ethics and Sustainability 3
Timberwell Construction approximately $4 million in the process of complying to the LEP
amendments (Ioannou and Serafeim, 2017). In addition to that, there are other opportunities
and risks, which ought to be measured with the existence of modern technology as well as
services that will aid in considering challenges connected to climate changes together with
transformation in the behaviours of their consumers.
Disclosure 205-3: Confined incidents of corruption and action taken
Timberwell Construction is among the organizations, which provide reports to the
GRI standards regarding the nature and number of corruption incidences (Hahn, & Kühnen,
2013). In this sense, Timberwell has taken the campaigns in relation to public relations with
the aim to address negative publicity. In order to sustain its brand name Timberwell
Construction it has released several media release with the intend to show that the business is
a cooperate citizen.
The public legal cases on matters related to corruption has taken into consideration
public investigation, and prosecutions. In this connection Timberwell Construction has
confirmed some incidences of corruption among its employees. On top of that, the company
has gone a step further to dismiss its employees who have been found to involve themselves
in corruptions incidents. Similarly, on realising that some of its business partners were also
involve in corruption incidents that involved its employees it has confirmed to terminate its
relationship with these partners. Reports by the news contemplate that the civic legal cases
about exploitation cases facing Timberwell Construction and some of its workforce to have
led to the cases facing it (Dissanayake, Tilt, & Xydias-Lobo, 2016).
Disclosure 206-1: Legal actions for anti-competitive behaviour, anti-trust and monopoly
practices:

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Timberwell Construction has the responsibility to report all accomplished and
pending legal action cases during the reporting period that are related to anti-competitive
behaviour as well as any violations related to anti-trust and monopoly laws that the business
has been found to be a victim. In relation to anti-trust and anti-competitive behaviour, there
are several complaints that have been taken to different legislative authorities in relation to
Timberwell Construction operations. In this sense, this disclosure provide a relationship to
the legal arrangements that are launched through the domestic or multinational legislation
which are mainly established with the aim to control anti-competitive actions, dominant
practices and anti-trust activities. According to Stacchezzini Melloni, and Lai (2016) anti-
competitive actions and dominant practices should help to regulate the choice of pricing,
consumers among other factors that is vital in any efficient market.
According to the legal action it has been found that Timberwell Construction involved
in this behaviour with the target to prevent new entrants in establishing market in the interior
of Stanwell neighbourhood to reduce antagonism in the marketplace. The case has been
shortlisted for hearing in the Federal law court in a period of four months as a compliance to
the lawful actions of the anti-competitive conduct disclosure 206-1. It is true beyond doubt
that once legislative decisions reached out the current situation facing Timberwell it is likely
to pose significant risks that may interfere with its market activities in addition to disciplinary
measures.
(B) Environmental sustainability
Disclosure 302-1: Energy consumptions within the organization
The objectives of this disclosure is to address issues related to the consumption of energy
within organisations that reports to total energy used by different organisations from non-
renewable energy sources. Reports by the media release have shown that Timberwell