Sustainability Assessment: Timberwell Constructions

SUSTAINABILITY AND GOVERNANCE ETHICS 1
SUSTAINABILITY ASSESSMENT
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SUSTAINABILITY AND GOVERNANCE ETHICS 2
SUSTAINABILITY ASSESSMENT
Introduction
Sustainability is the ability of a system to use specific supplies and remain productive
without its depletion. Sustainability assessment on the other hand, has been defined as an
instrument that can be used by strategy makers and resolution makers to create a place of
sustainability for all people (Kuhlman and Farrington, 2010. pp.3436-3448.). Furthermore, the
World Commission describes sustainability development as the capability to sustain the needs of
the current people without wiping out the capability to sustain the wants of the age band to come
(GRI standards, 2016). In this report we shall assess the sustainability factors and impacts of the
organizations Timberwell Constructions.
Timberwell Constructions is a building industry that compacts with the building of
uptown houses in the Stanwell Council district. We are committed to sustainability development
where we are located. As Grigg 2013 states, factors like biodiversity, forests, atmospheres,
waterways, oceans and biogeochemical cycles are vital factors that can make global market
thrive therefore we have found it necessary to have this report on these factors. The report will
look into economic, environmental and social sustainability features. In environmental
sustainability we will deal with disclosure 201-2, 205-3 and 206-1 where we focus on economic
impacts due to weather variations, occurrences of corruptions and anti-competitive, anti-faith and
dominant practices. We also look at environment sustainability where we look at 302-1, 304-2
and 307-1 disclosures where we major on impacts on environment due to energy utilization,
effects on diversity and non-acquiescence with environment laws. Lastly, we look at social
sustainability issues such as employee matters, incidents of discrimination and operations with
the local community.

SUSTAINABILITY AND GOVERNANCE ETHICS 3
Economic withstandability
Disclosure 201-2
Financial implications and other risks and opportunities due to climate change
Weather variations has been shown to affect the financial outcome of an institution or a
company. A paper done by Marsh and McLennan insights on “Climate Change: Managing a
New Financial Risk” shows how various organizations can measure their financial risks in
relation with climatic change (Wyman, 2019). The effect of climate change normally brings a
change on the global economy and this impact will be seen on the balance sheet and banks. The
influence on banks and the balance sheet is either normally a risk or an opportunity. Timberwell
company has been functioning with the Council in Stanwell in order to conform with the
recommended alterations on its Local Environment Plan. The council has projected to alter the
LEP in relation to climate change and bushfire predisposed areas. This means that whatever area
in Stanwell district that is going to be amended to be a bushfire zone close to Timberwell
constructions will impact the company’s balance sheet. Timberwell Construction has a venture in
the area that the Council has zoned it as a bushfire area. This means that the company will incur
more charges because they will be expected to use fire resistant houses within that area. This
money would amount to $4 million but it is conversing with the Council in order to spend $50,
000 which is a better amount for them to comply with the standard set.
Disclosure 205-3

SUSTAINABILITY AND GOVERNANCE ETHICS 4
Confirmed incidents of corruption and action taken
Occurrences of sleaze in companies are sometimes reported and when these instances
come up any good company or person always takes action. The action taken may condone or fail
to condone the particular company that has been involved in corruption. Bribery is one form of
corruption that a company can involve itself with (Jimenez and Pulos, 2012). The acts of bribery
in a company exposes it to many risks. The people involved face fines, imprisonment and their
name may be tainted that they may never be able to get into business again (Tavits, 2010.
pp.1257-1279). There was a reported case of corruption in Timberwell Constructions after an
employee was fired and went to report to the state corruption commission. Two trading
associates and five staffs were found guilty of dishonesty. This is after they offered a bribe to
council officers so that they may be in charge of particular projects. As they awaited their
persecution, they were suspended from the company and without their wages. The company also
terminated its relations with the two business partners.
Corruption when brought to light always brings with it negative impacts like what
happened to the employees and the two partners (Dreyer, Hauschild and Schierbeck, 2010.
Pp .247-259.). Corruption like in the case of the company can lead to stakeholders pulling back
from the company. As the 7 who were charged with corruption were waiting for persecution, the
company was brought into publicity but not from a good side. This paints a bad picture for the
company (Wrage, 2017).
Disclosure 206-1
Legal actions for anti-competitive behavior, anti-trust, and monopoly practices.