Governance, Ethics, and Sustainability

Running head: GOVERNANCE, ETHICS, AND SUSTAINABILITY
Governance, Ethics, and Sustainability

GOVERNANCE, ETHICS, AND SUSTAINABILITY
Table of Contents
A. Economic Sustainability........................................................................................................3
i) Disclosure 201-2 Financial Implications and Other Risks and Opportunities Due To
Climate Change......................................................................................................................3
ii) Disclosure 205-3 Confirmed Incidents of Corruption and Actions Taken........................4
iii) Disclosure 206-1 Legal Actions for Anti-Competitive Behavior, Anti-Trust, and
Monopoly Practices................................................................................................................4
B. Environmental Sustainability................................................................................................5
i) Disclosure 302-1 Energy Consumption within the Organisation.......................................5
ii) Disclosure 304-2 Significant Impacts of Activities, Products, and Services on
Biodiversity............................................................................................................................6
iii) Disclosure 307-1 Non-Compliance with Environmental Laws and Regulations.............6
C. Social Sustainability..............................................................................................................7
i) Disclosure 401-1 New Employee Hires and Employee Turnover......................................7
ii) Disclosure 406-1 Incidents of Discrimination and Corrective Actions Taken..................8
iii) Disclosure 413-1 Operations with Local Community Engagement, Impact Assessments,
and Development Programs...................................................................................................9
References................................................................................................................................11
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GOVERNANCE, ETHICS, AND SUSTAINABILITY
A. Economic Sustainability
i) Disclosure 201-2 Financial Implications and Other Risks and Opportunities Due To
Climate Change
There are both risks and opportunities that remain linked with the increasing incidences of
climate change. Its impacts can be witnessed in alterations of expenditure, operations, and
revenue. Based on the disclosure of GRI standards, the reporting requirements are divided
into five parts. The first part deals with the identification and classification of threat and
opportunity. Impact’s description is involved in the second part. The third part intends to
identify the financial implications before any sort of action is undertaken. Methods that can
be implemented to manage the opportunity or the threat are included in the fourth part. The
last part ensures the cost that is required to implement the appropriate action (GRI, 2018).
Firstly in the case, the threat that is posed towards the company is the bushfire whereas the
opportunity that is derived from the outcome of the climate change is that the company,
Timberwell Constructions is engaging itself in planning an external town firm. Both the
threats and opportunity involved in this case are regulatory as well as physical. Both time and
money are going to be affected by the changes that will take place in the occurrence of
bushfire. The case evaluated in the third part exhibits the company to invest $4 million in
order to implement the Local Environmental Plan (LEP) amendment. Moreover, according to
the Government of South Australia (2009), reducing and removing native vegetation can
prevent the occurrence of the bushfire. Thus, the amount that the company is required to pay
for the services provided by the town firm is $50,000.
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GOVERNANCE, ETHICS, AND SUSTAINABILITY
ii) Disclosure 205-3 Confirmed Incidents of Corruption and Actions Taken
The disclosure identifies five distinguishable parts that are required to be reported so that the
incidences can be evaluated on that basis (GRI, 2018a). Firstly, the total numbers of
corruption incidences of the company that have been found are three. All of the three
incidences signify political or legal corruption that is associated with engaging works that
inherit disadvantages for the company’s employees (Dimant, 2013). As per the second
reporting requirement, the confirmed incidents, which made the company dismiss its
employees is only one. Evaluation of the case signifies the fact that in accordance with the
third requirement of the disclosure, there is one incident in which the company has
terminated its partnerships contract. Specifically, Timberwell Constructions had a contract
with two external consultants and both their contracts were brought to an end by the
company. As per the disclosure’s fourth reporting requirement, the number of public legal
case that has been filed against the institution or its employees is one. The outcome of the
case witnessed that the company have suspended all the five alleged employees and
terminated the partnerships contracts with two separate external consultants.
iii) Disclosure 206-1 Legal Actions for Anti-Competitive Behavior, Anti-Trust, and
Monopoly Practices
There are specific two reporting requirements in disclosure 206-1. The first point requires an
identification of the number of legal actions against the company that is either pending or
completed on the basis of anti-competitive behavior and violations that are related to the
monopoly legislation and anti-trust. The second requirement requires assessment of the
company to evaluate the outcome of the legal action (GRI, 2018b).
Evaluation of the company’s case, it has been understood that there was a pending case in
which the company was sued for exhibiting anti-competitive behavior. The outcome of the
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