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Alumina Limited Sustainability Practices and Operations

   

Added on  2020-03-28

11 Pages2569 Words72 Views
Stakeholder: Local Environmental Group 1STAKEHOLDER: LOCAL ENVIRONMENTAL GROUPBy (Student’s Name)Professor’s Name College Course Date

Stakeholder: Local Environmental Group 2INTRODUCTIONThe reported below used 2016 Annual Report with particular focus on the sustainabilityto help the Local Environmental Group understand how best Alumina Limited engages inpractices and operations that might harm the environment and the mechanism that the companyis undertaking both proactive and reactive ones to mitigate the effects to the environment. Thereport basically examines Alumina Limited’s commitment to report on the non-financialperformance highlighted on its sustainability policy and its commitment to high-levels oftransparent disclosure. The report will make the Local Community Group where Alcoa World Alumina andChemicals (AWAC) undertakes its operations that may greatly affect the environment ifunchecked. The report will mainly covers AWAC operations where the highest sustainabilityimpact depends. The report will help provide an easy access to the consolidated informationregarding the sustainability performance of AWAC and culminate in greater understanding ofquality and value of such assets. INTERPRETATIONAlumina Limited ProfileThe Company is a leading Australian firm listed on the ASX and trades in the UnitedStates on OTCQX market. Alumina invest globally in bauxite mining, chosen aluminiumsmelting operations and alumina refining via its forty percent ownership of AWAC. The Alcoa isAlumina’s partner Alcoa Corporation which owns the remaining sixty percent of AWAC andAlcoa Corporation is the manager. Alumina Limited is a typical representation of a distinctopportunity for the AWAC pure investment, one of global biggest producers of bauxite andalumina. Alumina has a clear understanding of the fundamental association between AWAC’s

Stakeholder: Local Environmental Group 3long-run profitability and sustainability of AWAC’s operating performance. The decisions madetoday by Alumina is clearly understood by Alumina Limited to have direct influence on futureeconomic, environmental as well as social outcomes. The Alumina Limited acknowledges thatsustainable development alongside growth remains fundamental to AWAC and hence recognizeAlcoa Corporation as the global leader in the corporate sustainable development. Sustainability Overview Alumina Limited and Alcoa Corporation share a common belief that the impacts of itsbusiness stretch past its corporate borders thereby affecting social, economic and environmentalelements of the stakeholders. Alumina Limited recognizes stakeholders to range from individualsaffected directly by business; workers, suppliers, customers, shareholders, and the public inlocalities AWAC operates to those individuals impacted indirectly like uses of end product. Such a recognition is important to the Local Community Group (chosen stakeholder) towhich report is intended since their objective is to protect all these mentioned stakeholders.Alumina Limited holds that to operate sustainably, the company has to acknowledge theresponsibilities to such several interested parties and subsequently act accordingly (Kurup,Altham and Van 2005). AWAC has harnessed the resourcefulness, competency, capability aswell as strength of the workforce thereby developing business responsibly and establishing apositive legacy for its several stakeholders that this local group seeks to protect (Deegan andIslam 2012). The sustainable operations of AWAC are driven by the belief that sustainability regardsworking more efficiently and effectively to enhance environmental outcomes as well restrain theenvironmental impact, enhance quality of life (QoL) of individual impacted by the operations of

Stakeholder: Local Environmental Group 4AWAC including AWAC employees’ safety and health thereby driving business performanceand long-run value to its stakeholders. Alumina Limited is effective since it believe thatsustainability goals must be integrated into business strategy as well as processes instead of asubordinate attempt that risks dilution. Despite being non-operating partner in AWAC, Aluminaturn to, and support, Alcoa (global leader of best-practice sustainability), operating manager ofAWAC, it its programs that drive sustainability (Fergusson 2014). Sustainability Material Risk and Long-run Objectives The Energy UsageAlumina Limited has effective availed information that helps check on the potentialimpact on sustainability of AWAC and long-run global objectives have been established byAlcoa to mitigate impacts. The company recognizes that energy is an important element inproduction of alumina and Aluminium. The firm has presented measures taken to ensure energyis used in an efficient manner as energy efficiency remains a key factor in sustainableenvironment performance. The report outlines that Almina Limited uses a 2005 as baselinewhere it has set a target to ensure ten percent reduction in energy intensity of the AWAC’sglobal operations by 2020 and this is expected to be 15% by 2030. Water Management and SecurityAlumina Limited report has clearly outlined the measures that are undertaken to ensueeffective management of water and security. The company recognizes in its report that water isessential raw material utilized at each point of mining, smelting and refining operations ofAWAC. The report reveals that the company is keen to ensure water sustainability as its scarcitywill greatly impact AWAC’s production, costs, and performance financially. The report uses the

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