Sustainability Assessment Report for Timberwell Constructions

Governance, Ethics and Sustainability
Management
5/16/2019
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dell

Timberwell Constructions
Timberwell Constructions is a development company that builds residential apartment
complexes in the Stanwell Council District. Recently, it has come under scanner due to a number
of cases filed against it by an ex-employee including a discrimination lawsuit, a case in the
Australian Competition and Consumer Commission for misuse of power and unfair competition
practices in the market, another in the State Corruption Commission for its employees and
partners accused of taking bribes and separate complaint in the Department of Environment and
Energy for clearing of endangered ecological grasslands. The company has had to pay fines,
defend themselves against lawsuits, and release massive damage control public relations
campaigns to control the negative publicity surrounding the firm (Ness, et al, 2016). The
company has had to get a Sustainability Assessment Report prepared for the purpose of
highlighting to the public its efforts in development of its locality and taking measures for
sustainable growth of the business and environmental protection (Fernandez-Feijoo, et al, 2014).
Sustainability Assessment Report
ThisAssessment of Sustainability has been conducted by Timberwell Constructions for the
supporting policy making and taking decisions in the context of economic sustainability,
environmental sustainability and social sustainability (Sala, et al, 2015). This report has been
combined with the aim of combining knowledge on the evaluation of the different aspects
mentioned and explaining the specific Consolidated Set of GRI Sustainability Reporting
Standards 2016. These Standards (0f 2016) are the first global standards developed for the
purpose of sustainability and are an improvement over the original reporting standards given by
the GRI Secretariat. The GRI Standards have a modular formation whereby every standard can
be updated individually without making any changes in the associated and related standards
(“The GRI Sustainability Reporting Standards: The Future of Reporting”, 2016). There are three
universally used GRI Standards including one on the Foundation on GRI, on the General
Disclosures and one on the Management Approach (“Introducing the GRI Standards”, 2016).
Out of these the three series of topics that have been covered in the Sustainability Assessment
Report of Timberwell Constructions are –
 GRI 200 Economic Sustainability
 GRI 300 Environmental Sustainability

 GRI 400 Social Sustainability
These Standards have been explained in the Sustainability Assessment Report of Timberwell
Constructions in detail:
A. GRI 200 Economic Performance
It sets out the standards for economic performance for all organizations irrespective of
the location, size and financial capability of the organization. Timberwell Constructions
is using this Standards to report about its impact on the economy. The sub sections
applicable to Timberwell are discussed in brief below:
(I) Disclosure 201-2 Financial implications and other risks and opportunities
due to Climate change:
According to the GRI Standards, Timberwell Constructions will report any and all
risks due to climate change that might, in the future, bring substantive changes in
the operations of the company. These disclosures are of several types including –
any risk or opportunity for the company and of what type and magnitude, the
detailed description of that particular risk or opportunity, the financial or the
physical implications posed by this decision of Timberwell Constructions, and the
cost of taking into account the measures to control this risk or the application of
the opportunity (O’Dwyer and Owen, 2015). Also, the methods for managing of
such actions for the company are mentioned.
The GRI Standards state that if for calculating the financial impact of such an
opportunity or risk, Timberwell does not have the necessary systems in place then
they will first develop these systems. The calculation of such an impact will
include the total of operational costs, the capital costs, the capital availability and
the demand for the products and services.
(II) Disclosure 205-3 Confirmed incidents of corruption and actions taken:
This part of the GRI Standards includes that Timberwell Constructions shall have
to report in its Sustainability Report – the total number of discovered and
recorded incidents of corruption, the number of cases where the employees were
suspended from duty or were dismissed, the cases where the contracts with
business partners were dismissed or cancelled due to corruption practices and the