GOVERNANCE, ETHICS, AND SUSTAINABILITY (A sustainability assessment on Timberwell constructions) Name of the university Student ID Code

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Table of Contents
GOVERNANCE, ETHICS, AND
SUSTAINABILITY
(A sustainability assessment on Timberwell constructions)

GOVERNANCE, ETHICS, AND SUSTAINABILITY
Introduction................................................................................................................................2
A. Economic sustainability........................................................................................................2
i. Disclosure 201-2.............................................................................................................2
ii. Disclosure 205-3.............................................................................................................2
iii. Disclosure 206-1.............................................................................................................3
B. Environmental sustainability.................................................................................................4
i. Disclosure 302-1.............................................................................................................4
ii. Disclosure 304-2.............................................................................................................4
iii. Disclosure 307-1.............................................................................................................5
C. Social sustainability...............................................................................................................5
i. Disclosure 401-1.............................................................................................................5
ii. Disclosure 406-1.............................................................................................................6
iii. Disclosure 413-1.............................................................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8
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GOVERNANCE, ETHICS, AND SUSTAINABILITY
Introduction
Sustainability assessment is one of the broader ways to critically evaluate the decision
making and the policies by the company taken from an environmental, social and economic
perspective. The study is based on the sustainability analysis of Timberwell constructions. It
is a residential development company which is entrusted with the responsibility in building
apartments in Stanwell Council district. However, in recent times, a sustainability assessment
report would be created as per the GRI Sustainability Reporting Standards 2016 which
would help in answering the conditions required for environmental, economic and social
sustainability for the company.
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GOVERNANCE, ETHICS, AND SUSTAINABILITY
A. Economic sustainability
i. Disclosure 201-2
As per the disclosure 201-2, the climate changes in the environment could create a lot of
risks and opportunities for the company. The primary risks are associated with the shift in
consumer preferences and the rising demand for environment-friendly products. The main
advantage of the disclosure is that better decisions are taken with the help of customer
engagement and dialogue with the stakeholders (Abeydeera et al. 2016). As per the report
published by the Stanwell council, it had identified that the place in which the company is
operating situated in one of the bushfire zones. This had come due to the adaptation of the
environmental plan by the council, which would be taking effect in the six weeks.
Unfortunately, for the Timberwell constructions, it had a development site in the Stanwell
district of bush fire zones, where the chances of catching up fire are enormous. This had
created the risk for the company to pay an additional penalty of 4 million dollars to the
council (Adams, 2015). As a result, the action plan of the company had been changed in
which, they want to contact with an external planning firm so that it could create the site in
such a place where the chances of getting penalized are less. In order to do that, the
company is collaborating with the Stanwell council (Global reporting, 2019). This would cost
around 50000 dollars which is much less than 4 million pounds.
ii. Disclosure 205-3
The disclosure 205-3 states that there had been specific incidents of corruption cases like
bribing or kickbacks. This disclosure defines that the employees in the corruption incidents
are often expelled from the workforce to maintain the image of the company. Along with
that, the business partners are often expelled from the contracts in the case of corruption
incidents. As per the discussion in the study, Timberwell constructions had been in a
corruption case which involved 5 employees of the company and 2 business partners,
respectively, as complained by Dennis (Berinde and Andreescu, 2015).
As per the complaint was given by Dennis, it can be stated that the employees of the
company and the business partners bribed some of the project officers. When this case went
public upon investigation by the corruption commission of the state, the commission decided
to charge the employees. Even, one of the external consultants had been indicted in the case
of a corruption case. The outcome was that the company had to eliminate the charged
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