This report discloses Timberwell Construction's sustainability measures as guided by GRI (Global Reporting Initiatives). It covers the company's economic, environmental, and social sustainability, including its compliance with environmental regulations, energy consumption, waste reduction, hiring practices, and more.
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Introduction This report is prepared to disclose Timberwell construction sustainability as a corporate measure as guided by GRI (Global Reporting Initiatives), 2016. The reporting initiatives advocates the assessment of the effects of firm’s activities on the society, economy, and the environment. In addressing the sustainability report, the company is committed to disclosing specific concerns to the environment, social, and economic standards. The economic sustainability of the company is revealed in issues relating to corruption, laws relating to competition, and implications of finance regarding climate change. The operations of the company are assessed on its impact on the compliance status on matters of environmental regulations, energy efficiency consumption, and waste reduction. The report further reveals the social sustainability of the company in regard to measures of hiring employees, incidence of discriminations and employees turnover. Economic Sustainability Disclosure 201-2:this disclosure is about the risk associated with monetary implicationson a company as a result of a change in climate conditions from the business operations. Timberwell construction gives a compliance report as caused by the changing climate on the various risk or opportunity associated by operations of the company. Disclosure of the company revealed that the company was penalized for ecological destruction of the environment clearance by the company to allow constructions. .
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The company is, therefore, tasked by this disclosure, the number of corruption cases in the company. The legal cases regarding employee dismissal are essential to the stakeholders Disclosure 205-3this disclosure is concern with confirmation of corruption cases and taking actionsasrequired.ofthecompanyingaugingtheresponsetosuchincidencebythe management.Timberwell is engaged in a public relation campaign to improve the image of the through a media release that is aimed to enhance the corporate image. Timberwell is responsible for disclosing the number of cases that have involved the employees being dismissed in the company due to disciplinary issues. The company revealed the employees who engaged in shady deals with the partners of the company council projects. The company further explains the need to terminate their contracts resulting from this violation of employment contracts. Disclosure 206-1:depicts the reporting of in regard to the legal rules affecting the company reporting framework. Such rules deal with the competition among firms, anti-trust and laws relating to monopoly behaviour.Legal laws against competitive behaviour or monopoly practices can create an impact on the choice of the consumer, pricing, and other factors, which is essential to efficient markets.(VanGrembergen and De Haes 2017).Timberwell was found by the Australian competition and consumer commission to be involved in monopoly practices anti- competitive behavior. Through a case filed by ACCC regarding themisuse of market power and prevention of new entrants to the market of the district of Stanwell, the case should be disclosed in the sustainability report.
Environmental Sustainability Disclosure 302-1deals with energy consumed in an organization. The organization disclosure on the use of energy sources is essential to the stakeholders. Timberwell company have various sources of energy such as fuel consumptions, construction power, renewable and other non- renewable sources of energy. The main company source of energy is power. This power is derived from either renewable or non-renewable energy. Non-renewable energy is categorized into the furnace, fuel from boilers, and emission from vehicles. This source of power is derived from activities generated by fuel like gas from mining, coal gas, and extraction from oil. The company has various measures of corrective strategies in protecting the environment against pollution.Thecompany’sconsumptionofnon-renewablesourcesis1 gigajouleand0.5 gigajoules from renewable sources. The consumption of electricity is 2 gigajoules making the total consumption of the firm to 3.5 gigajoules. The disclosure from the firm as released from the media claims that the company has a planned program to increase the energy consumption from renewable sources to about 50% of total energy consumed in three years to come. Disclosure 304-1deals with the Important influence of the activities of the company on biodiversity. The company values its biodiversity in its construction activities, especially within its protected areas. The disclosure reports of the company on biodiversity issues indicates the monitoring activities of the firm to reduce the outcome risk from this issue.The firm also can manage the signs of biodiversity and reducechallenges of mismanagement. The media release disclosure of the company states about the company commitment to undertake measures of assessing the impact of their proposed residential projects in the community. This has been possible by involving the community in the planning and setting aside expenditure funds for programs for the community. This planned development involves initiatives such as meetings with the locals, environment impact assessment, and efforts to meet affordable housing in Stanwell district. This disclosure, as revealed by the company, lays the
foundation of restructuring the company’s tactics to combat the significant quantity of both direct and unintended results of biodiversity (Fassin 2015). Disclosure 307-1 this disclosure deals with non-compliance with regulations and laws of environmental protection. The company media release shows several fines and numerous non- financial sanctions that are linked to non-compliance of the conventional laws for environmental protection.During the period of collecting information, the disclosure from media release indicates that all the penalties of the firm are supposed to be converted into financial terms including legal and administrative sanctions(Milne and Gray 2013). These sanctions comprise of treaties, declarations, and other international conventions. All this compliance is a requirement from both the local, regional, and national laws. Environmental assessment report of the company reveals that a fine of $200 000 was imposed on the company due to the company clearing 0.45 hectares of land leading to environmental and community threat of coastal grasslands. Moreover, the company cleared land was a move aimed to preserve and protect the fauna and flora, as stated by the state development scheme. TimberwellConstructions undertook a vegetarian management plan as directed by the government commission as an audit program to conserve the environment. The audit program is scheduled to cost the company $440 000 or less. Disclosures of the company on the environmental conservation and issues of non-compliance challenges could cost the company severe obligations and environmental sanctions. Through compliance with environmental laws and regulation, companies are set to obtain strength for substantial expansion and growth by enhancing the daily operations of the company. Social Sustainability Disclosure 401-1 deals with the hiring of new human resources and employee turnover. According to disclosures from the reports of the company, the sum of personnel during the
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reporting period is required to understand the percentage of new employees and turnover of the staff. During the gathering of data for the disclosures of social sustainability, GRI requires the sum of employees of the company to be known. Timberwell Constructions firm is entitled to employ 58 male workers in the local area undertaking various constructions’ occupations. Due to the competitive local market industry around the company, Timberwell hires 12 apprentices because 17 employees left the company to another rival firm while others start their own business. The employees’ turnover rate is 29% this has led to increased monthly payments and employees increased remunerations to attract and retain employees. The disclosure shows a high rate of dissatisfaction and high staff turnover due to uncertainties surrounding the employment contracts of the firm. The employee turnover of the firm is due to the change in structure and the essential operations of the company.
Disclosure 406-1deals with Incidence of discrimination.The company revealed the sum of discriminatory cases and measures taken during the period of reporting. Recent complains of the discriminatory issue relates to Denis McCabe due to unfair treatment from the organization. The complainant claimed that the rest of the employees discriminated him about his old age in the company.After filing a case about his unfair treatment, the company was ordered to compensate him $4 400 (Acharya and Kehoe 2013). The company was further compelled to adopt a disciplinary action and provide training to all its staff members. This case in the company is a clear alarm about the practice of discriminations in the workplace among the employees on an individual. The employee harassment claim is against the standards of anti-discrimination policy . thus, the sustainability report ought to make disclosures in relation to a plan to assess the internal management strategies to curb such vices. Disclosure 413-1 deals with operations with local community engagement in the sustainability issues of the environment. The disclosures of the firm concerning this issue reveal that most of its operational activities include local participants for an environmental assessment to enhance a socially significant company. The company public relations is entirely managed through the use ofpublicrelationofficerswhichsolvenegativepublicimageandsolvethecompany’s community issues.Timberwell Construction ecological assessment statement indicates many rare sedgefrog’spresencesinOttoPark.Havingreportedtheissuetoitshighresidential development, the company warned a disruption of the frog breeding areas which could reduce their population. Thus, the company revealed its commitment to conserving the development of construction sites to promote the existence of the frogs. The main concern is the participation of the community and the company in planning and involvement to protect the environment. This measure assists the company from negative publicity from local communities.
Timberwellinitiativesforsafeguardingtheenvironmentisappreciatedbythe communities and the local’s residents.There are several tools that firms use to engage the community in a move to meet the social and human rights. The process of involving the community and all the stakeholders in the environment enables the company to expedite their duties without disruptions from the authorities. Conclusion The disclosures of the Timberwell Construction regarding economic, environmental, and social sustainability as discussed is reported under the standards global reporting in initiatives. This guidance of the reporting in the company an equal and realistic representation of the firm activities in its practical nature.The available information obtained from sustainability reporting enables both internal and external stakeholders to choose an option; it also assists them in making informed decisions in relation to Timberwell construction contributions to a sustainable development. Moreover, it is evident that the sustainable environmental report is important in todays business environment. Companies such as Timberwell are concerned with the impact that the company’s activities causes to the environment including the social being. Thus, the standards measure as provided by the GRI is a necessary policy for corporate disclosures. Reference List: Acharya, V.V., Gottschalg, O.F., Hahn, M., and Kehoe, C., 2013. Corporate governance and value creation: Evidence from private equity.Review of Financial Studies,26(2), pp.368-402. Denis, D., 2016. Corporate Governance and the Goal of the Firm: In Defense of Shareholder Wealth Maximization.Financial Review,51(4), pp.467-480. Dimopoulos, T. and Wagner, H.F., 2016. Corporate Governance and CEO Turnover Decisions.
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