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Sustainability in Economics - PDF

   

Added on  2021-02-20

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SUSTAINABILITYASSESSMENT
Sustainability in Economics - PDF_1

Sustainability in Economics - PDF_2

INTRODUCTIONFor every company, it is crucial to ensure that their activities and operations aresustainable in nature and comply with the legal regulations and compliances that have beenformulated. In this report, a sustainability assessment report has been prepared on an Australiancompany, Timberwell Constructions. This report will understand and analyse various standardsthat have been formulated by GRI and evaluate that how many of them and upto what extentthese have been followed by the Timberwell Company (Initiative, 2016). These standards arerelated to the economic, environmental and social sustainability that companies operating inAustralia are required to comply. In this report, it will be identified that how many of thesestandards have been complied with by the construction company and in which standards thecompany has defaulted on the basis of a series of complaint filed by an employee of the companyDennis has been evaluated.MAIN BODYA. Economic Sustainabilityi) Disclosure 201-2 Financial Implications and other risks and opportunities due to climatechange.As per this disclosure of GRI, it is essential for the companies to keep in mind the impactof the environmental activities that are being undertaken. The various risks and opportunities thatthe intended actions hold and the financial implications of such actions must be kept inaccounted and properly evaluated before taking the action. In the present case, TimberlandCompany has identified the effect of warming up of climate that can lead to increased incidentsof bushfires in some specific areas (Tan, George and Comino, 2015). The company is closelyassociated with the state council i..e Stanwell Council under the Local Environment Plan underwhich particular areas will be marked as bushfire prone and special measures would be taken torezone these areas which will increase the security and safety standards. It has increased theadditional cost of the company by $4 million due to formulation of new regulations and thecompany is trying to collaborate with the state council by engaging an external firm workingwith the special purpose of town planning (Wolfram, Wiedmann and Diesendorf, 2016). This isexpected to reduce the cost on an overall basis but it has also created an additional cost of$50000 which is to be paid to the external company which has been hired for planning.
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