Sustainability Assessment Report on Timberwell Constructions
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This sustainability assessment report analyzes the economic, environmental, and social sustainability of Timberwell Constructions. It covers topics such as economic outlook, energy consumption, corruption, discrimination, and community engagement.
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Runninghead:SUSTAINABILITYASSESSMENTREPORTONTIMBERWELL CONSTRUCTIONS Sustainability Assessment Report on Timber well Constructions Name of the University: Name of the Student: Authors Note:
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1SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS Table of Contents Introduction......................................................................................................................................2 Economic Sustainability..................................................................................................................2 Environmental Sustainability...........................................................................................................4 Social Sustainability........................................................................................................................6 Conclusion.......................................................................................................................................8 References......................................................................................................................................10
2SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS Introduction Thecompanies adoptsustainability reporting standard developed by “Global Reporting Initiative (GRI)” for analyzing theimpact of the operations on the society(Abeydeera, Tregidge andKearins2016).Themainfocushereissustainabledevelopmentandreportingfor upgradation of the private lands likeTimber well Construction throughcompliance with the consolidated GRI reporting standardsdeveloped in2016. Timber well Construction is positioned as a residential development organization that is involved in the business of developing apartmentcomplexeswithintheStanwellComplexDistrict.Thecompany’seconomic sustainabilityis governed through reporting about the instances ofcorruption, climate change, which are considered as a deviant behavior in terms of workplace ethics. Within the reports, environmental sustainability occupies an important position in terms ofenergy consumptions. Adhering to the environmental directives is assistance for preserving the diversity in the flora and fauna.In addition, social sustainability evaluation is carried out in consideration to attrition, discrimination along with community engagement (Bellantuono, Pontrandolfo and Scozzi 2016). Economic Sustainability Disclosuresregardingtheeconomicsustainabilityevaluationareemployedbythe company inthe process of mapping the outcomes towards the contribution of the economy.GRO 201hasaccumulatedanimportantpositionintheassessmentoftheeconomicoutlook comprising ofsize, operating sector and location. Based on therevelations of2012, the company in charge ofreporting needs to expose conscious approach towards mentioning about therisk and opportunitiescauseddue to climate change, drastic change in operations, revenue and expenses (Bradford et al. 2016). It also considers opportunity description as well as risks along
3SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS with their segmentation and its related impact. In addition,calculation of the financial benefit is vital for enhancing the awareness about the expenses behind risk mitigation.Aligning with the case study, it can be said that incompliance with environmental standards is consistent from the earlier stages of business. The company’s operations affected for a fauna and have also drastically endangered coastal grassland of economical society (de Villiers and Maroun 2018). It is necessary for this construction organization to report and develop a timeline in establishing a system for gauging financial impacts of climate change risks causing from its activities. In addition, there must be opportunities and risk classification resulting out from the climate change. For dealing with such challenges related with the climate change conditions, Timber well Construction should consider implementing techniques such as venting; carbon capture, emission reduction and renewable energy as well associated certificates. Disclosure 205-03 considers confirming the company’s involvement in corruption and according taking necessary actions. Companies abiding by such standard require disclosing information regarding overall conformed corruption cases (Dumay 2018). Casesrelated to the termination occupy an important position in the reporting.Within this, the corruption cases cannot be ignored.The stakeholders possess the liberty to gain familiarity with the organizational practice. In depth analysis of the case study indicates the instances of corruption, bribes and forcible applications, degrading the integrity of the organizational effectiveness.All these external consultants and staff associated with corruption were all suspended. The organization dismissed the partnership contracts with its outer consultants. Following such disclosure, Timber well Company needs to make disclosure regarding terminated contracts (Ehnert et al. 2016). Closure 206-1 has represented reporting requirements for companies associated with anticompetitive behavior, antitrust and monopoly practices. Reporting companiesare entrusted
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4SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS with the responsibility to legalize the action of reporting the pending cases related to violation, monopoly legislation application and unethical behaviours.From analyzing the case study of Timber well, it was gated that the company wasaccusedby “Australian Competition and Consumer Commission (ACCC)” forpossessing an approach of dominating in the Stanwell district, barring the entry of the start-up brands(Global Reporting Initiative 2016). Such case was filed in court as well as Timber well Construction was also called for hearing within few months. For averting these instances, standard reporting of the actions is needed through the involvement of the statutory bodies of law. This intervention generates good practices to the sustainable development. Environmental Sustainability Disclosure 302-1 is associated with energy consumption in the company. Important informationthatthereportingcompanymustdiscloseonsustainabilityincludesfuel consumption from the renewable as well as non-renewable resource in accordance with the types of fuels employed in multiples or joules (Initiative 2016). In addition, information associated with the overall energy consumption along with the sources of conversion aspects must be employed. Thereporting techniques includescomputation techniques, methodologies, standards as well as assumptions.Re-evaluation of the fuel consumption is exempted while synthesizing the information. Separate reporting standards are necessary for the representation of fuel consumptioninrenewableaswellasnon-renewablesources.Consistencyisneededfor disclosing the reports onsuitable application of the conversion factors. Approach of company must also be depicted at the time they employ any specific methodology (Jill 2018).
5SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS Timber well Construction Company’s media releasetagged the company as ‘efficient’ in terms of energy consumption. According to the arguments of“Australian Department of Science and Industry”, the clients can get access to the details about the calculatios. The website consists detailedinformationabouttheprograms,whichhavebeendevelopedforenhancingthe awareness of the readers regarding the fuel consumption from the non-renewable sources. Conversely, it can be inferred from the explanation that the construction organization abides by this specific disclosure requirement (Larrán Jorge, Andrades Peña and Herrera Madueño 2018). Disclosure 304-2deals with mapping the impact of the actions on the preservation of the ecologicalbiodiversity.Theconsiderableeffectofsuchactivitiesincludingtransport, constriction, mine and infrastructure along with its effect on the biodiversity must be reported. Positive and negative impact that can be direct or indirect in accordance with areas impacted , reversibility, species impacted along with irreversibility of such impacts must be disclosed (Lewellyn and Logsdon 2016). The company’s supply chain might be indirect impacted by the biodiversity. Companies abiding with such disclosure need to have a better realization of the strategy for decreasing direct or indirect biodiversity impact. The business operations of Timber well Constructionsadversely affect the endangered flora and fauna. This is due to the complex constructions, destroying the habitat of the animals. Along with this, orders regarding renovation planshavebeenreceivedforcontributingtothepreservationanddevelopmentofthe biodiversity. This is through the means of audits, which would act assistance in assessing the evaluation of the planned actions. Disclose 307-1deals with the deviant behavior of the company through violation of the environmental directives.This violation needs to be reported for gaining an insight into the corrective measures for restoring normalcy. Within this, financial risks occupy important
6SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS position for providing clarity to the compensations, which needs to be paid for violating the directives(Lewellyn and Logsdon 2016). The disclosure mustcomprise of theoverall number of non-monetary truncations, fines and casesinvolving disputes and need effectiveresolution process. Companiesought to report the cases of non –compliance by identifying the flaws.. Non- compliance is prevalent in the operations ofTimber well Construction (Lewellyn 2017). The activities including clearance of land for the construction purposes have resulted in endangering the economic community. When the company does not comply with environmental regulations, the staffs are compelled to suffer from actions leading tocostly environmental liabilities. Social Sustainability Disclosure 401-1comprises of information related to the candidates hired and their turnover. In this, the information to be reported is governed by the ethnographic details ofage, religion and gender. In calculating rate of employee turnover and new employee recruitment, the company must consider thetotal workforce at the end of the financial yearend (Lewellyn et al. 2017). It has been evident from the case study that seventeen staff of Timber well Construction sideparted with the rival organization, which is a deviant behavior. This indicates high turnover, resultant from the dissatisfaction to the workplace conditions. As a result of this, the productivity was seriously affected, necessitating the need for revising the recruitment and selection policies. Disclosure406-1isfocusedonanalyzingthecorrectiveactionsandalongwith discrimination incidents that needs to be undertaken by the company (Maroun 2017). The company needs to disclose necessary information associated withthe cases of discrimination and the remedial plans. Discrimination in this case led to humiliation, affecting the professionalism of the workers ofTimber well Constructions.The employees were provided with the liberty to
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7SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS file a case of harassment. This was monitored by the Fair Work Commission. Upon filing the complaint, the company receivesan order for updating policy of anti-discrimination.The main aim in this case is training the staffs about the dire consequences of harassments in the workplace. Complaints lodged and their management is also to be accounted in the reporting process. Disclosure 413-1 considersorganizationaloperationstrough involving within local communities, developing programs as well as analyzing impacts. Companies which comply with this disclosure need to report the environmental and social impact of their business (Tost et al. 2018).The reports disclosed also needs to consider the grievance produces adopted by the local communities.As per this disclosure, Timber well also needs to take into account differentiated localcommunitynaturealongwithconsideringcertainactionsforvulnerablegroups’ identification. In ensuring increased support from the vulnerable groups companies require to implement differentiated measures.Corporate social responsibility of the company can increase through the employment ofseveral tools for engaging communities encompassing evaluation of human and social rights.At the initial stage, the stakeholders need to be identified.Timber well must undertake measures fir decreasing harmful impact of their business environment along with effectively managing impacts along with compensating local communities (Tost et al. 2018). This includes numerous concerns like the social economic status, age, gender and other vulnerabilities regarding the human health. For this reason, Timber well needs to evaluate the impact of its business actions on the communities along with program development and implementation. It was gathered from the paper that Timber well Construction Company’s media release indicating it as energy efficient company attached the energy consumption table. Here was also a
8SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS detailed elaboration of calculation tools use that is referred by the “Australian Department of Science and Industry”. From analyzing the case study of Timber well, it was gated that the company was alleged by “Australian Competition and Consumer Commission (ACCC)” for beinginvolvedinactivitiesofrestrictingasnewentrantwithinStanwelldistrictwithin development market with the objective of decreasing the market competition. In addition, it has also been revealed that Timber well must undertake measures fir decreasing harmful impact of their business environment along with effectively managing impacts along with compensating local communities. This includes numerous concerns like the social economic status, age, gender and other vulnerabilities regarding the human health. Meetings need to be organized for enhancing the awareness of the clients regarding thbe measures towards preserving the biodiversity. In this, statics related to the fuel consumption is needed. Presentations can suffice the means for maintaining transparency in the actions. Audits and evaluations need to be consistent in terms of reducing the errors and risks. As the main aim is sustainability, therefore, judicious use of the resources is needed for preserving the resources for averting the inadequacies at the time of actual completion of the projects and operations. Practicing training and tests needs to be taken for assessing the capability of the staffs regarding the application of the learnt skills. Monitoring their actions would help in detecting any illegal activities. Journey mapping is vital for measuring the impact of the actions on the society, which brings the concept of People, Planet and process in this context. Upgrading the standards and quality of the processes would make the planet a better place to live in, enhancing the standards of living for the people. Consciousness and rationality in this direction is apt for enhancing the corporate social responsibility of the organizations like Timber Well Construction. Consistent
9SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS evaluations are needed in terms of upgrading the standards and quality of the operations, securing the marketposition in the ambience of competition. Conclusion The report enhances the awareness of the readers regarding the effective means of sustainable reporting in case of private lands likeTimber well Construction.Adherence to the standards and protocols of GRI is vital for averting the illegal instances like corruption, bribery among others. Media release reflects the transparency in the operations of energy consumptions. Audits act as evaluation in terms of assessing the effectiveness of the strategies towards preserving the ecological biodiversity. Involving the statutory bodies of law is crucial for aligning the operations according to the latest version of the environmental directives. Training the staffs about the operations is apt for enhancing the organizational effectiveness.
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10SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS References Abeydeera, S., Tregidga, H. and Kearins, K., 2016. Sustainability reporting–more global than local?.Meditari Accountancy Research,24(4), pp.478-504. Bellantuono, N., Pontrandolfo, P. and Scozzi, B., 2016. Capturing the stakeholders’ view in sustainability reporting: a novel approach.Sustainability,8(4), p.379. Bradford, M., Earp, J.B., Showalter, D.S. and Williams, P.F., 2016. Corporate sustainability reporting and stakeholder concerns: Is there a disconnect?.Accounting Horizons,31(1), pp.83- 102. de Villiers, C. and Maroun, W., 2018. Introduction to sustainability accounting and integrated reporting. InSustainability Accounting and Integrated Reporting(Vol. 1, No. 12, pp. 1-12). ROUTLEDGE in association with GSE Research. Dumay,J.,2018.TrustAndCorporateReporting.ElectronicJournalofKnowledge Management,16(1), pp.56-58. Ehnert, I., Parsa, S., Roper, I., Wagner, M. and Muller-Camen, M., 2016. Reporting on sustainability and HRM: A comparative study of sustainability reporting practices by the world's largest companies.The International Journal of Human Resource Management,27(1), pp.88- 108. Global Reporting Initiative, 2016. Consolidated set of GRI sustainability reporting standards 2016.Amsterdam, The Netherlands.
11SUSTAINABILITY ASSESSMENT REPORT ON TIMBERWELL CONSTRUCTIONS Initiative,G.R.,2016.ConsolidatedsetofGRISustainabilityReportingStandards.URL: https://www. globalreporting. org/standards/gri-standardsdownload-center. Jill, M.D., 2018. The Current State of Sustainability Reporting: A Work in Progress.The CPA Journal,88(7), pp.44-50. Larrán Jorge, M., Andrades Peña, F.J. and Herrera Madueño, J., 2018. An analysis of university sustainability reports from the GRI database: an examination of influential variables.Journal of Environmental Planning and Management, pp.1-26. Lewellyn, P.G. and Logsdon, J.M., 2016, July. How Sustainability Reporting Is Maturing: A PreliminaryAssessmentoftheImpactofGRI’sG4Guidelines.InProceedingsofthe International Association for Business and Society(Vol. 27, pp. 122-132). Lewellyn, P.G. and Logsdon, J.M., 2016. How Sustainability Reporting Is Maturing. Lewellyn,P.G.andLogsdon,J.M.,2017.GlobalReportingInitiativeG4Sustainability Reporting Guidelines. Lewellyn, P.G., Ritchie, C.M., Harrison, D. and Harmon, M., 2017, July. Does Sustainability Assurance Measure Up?: A Critical Analysis. InProceedings of the International Association for Business and Society(Vol. 28, pp. 173-181). Maroun, W., 2017. Sustainability reporting after a crisis. InSustainability Accounting and Integrated Reporting(pp. 64-75). Routledge. Tost, M., Hitch, M., Chandurkar, V., Moser, P. and Feiel, S., 2018. The state of environmental sustainability considerations in mining.Journal of cleaner production,182, pp.969-977.