GRI Sustainability Reporting Standards for Timberwell Constructions

Running head: SUSTAINABILITY, ETHICS AND GOVERNANCE
GRI Sustainability Reporting Standards
Name of the Student:
Name of the University:
Author Note:

1SUSTAINABILITY, ETHICS AND GOVERNANCE
Table of Contents
Introduction......................................................................................................................................2
A. Economic sustainability..............................................................................................................2
B. Environmental sustainability.......................................................................................................5
C. Social Sustainability....................................................................................................................8
Conclusion.....................................................................................................................................10
Reference.......................................................................................................................................11

2SUSTAINABILITY, ETHICS AND GOVERNANCE
Introduction
Timberwell Constructions is located in Stanwell Council district and is a residential
development company that builds apartment complexes. The company have 58 male staffs
employed from the region and the employees have the experiences with the different profession
and trade. The local market for the employees is very competitive and thus, Due to market
competition the company has employed 21 new apprentices for the reporting period.. This study
is based on the preparation of the sustainability assessment report with respect to the GRI
Sustainability Reporting Standards 2016. GRI Standards are designed so that it can be used by
the different organizations to report their impact on the society, environment and economy
(Globalreporting.org 2018).
A. Economic sustainability
i) Climate change and the opportunities and risks and financial implications-
The GRI standards reveal that the reporting organization must report the following
information: information of the opportunity or risk and its differentiation as either regulatory or
physical; description of the opportunity or risk in connection with the impact; financial
implication of the opportunity or the risk before the action taken; methods employed to manage
the opportunity or risk; the cost of the action taken to manage the opportunity risk or
opportunity.
According to the case study, there is an increased risk in Stanwell district from the
bushfires due to the warming effects and the climate change. The Stanwell council proposed to
amend the Local Environmental Plan (LEP) and rezone certain areas of Stanwell district as
bushfire prone areas. The amendment is expected to take effect within a time period of 6 weeks.

3SUSTAINABILITY, ETHICS AND GOVERNANCE
Any new development within the amended LEP zone must meet the issue of bushfire. The higher
standards of safety include increased spaces between the land boundaries and buildings, also
utilization of the fire retardant materials in the buildings. Timberwell Constructions has a region
in the Stanwell district that requires an amended LEP zone in order to comply with the bushfire
safety. To comply with the new amendments, it would cost Timberwell Constructions a
whopping $4 million. In order to minimize the huge costs of, an external town planning firm has
been engaged by Timberwell Constructions to look after the development of the region and work
alongside the Stanwell council. In return of the service the new town planning company is
charging $50,000.
ii) Confirmed incidents of corruptions and actions taken-
The GRI standards reveal that the organization which is reporting must gather
information based on: nature and the number of the confirmed cases of corruption; number of the
confirmed cases in which workers were either disciplined or dismissed due to the charges of
corruption; number of cases in which contracts were not cut down because of involvement with
corruption charges or business partnerships were terminated due to corruption; legal cases based
on the corruption charges against the workers of a company during their reporting period or
against the organization and the results of such cases.
According to the case study, Dennis McCabe a former employee of Timberwell
Constructions. Dennis McCabe brought charges against the company to different government
authorities. This resulted in Australian Competition and Consumer Commission (ACCC) to
move to the Federal court on grounds of anti-competitive conduct that involved exclusive
dealings and market power misuse against the Timberwell Constructions. ACCC accussed that,
Timberwell Constructions came to know about establishment of a rival company in the Stanwell