Sustainability Report: Timberwell Constructions (GRI Standards 2016)

This sustainability report for Timberwell Constructions, compiled using the GRI Sustainability Reporting Standards 2016, examines the company's economic, environmental, and social sustainability performance. The report details the financial implications and risks related to climate change, incidents of corruption, and legal actions for anti-competitive behavior. It also assesses energy consumption, the impact of activities on biodiversity, and non-compliance with environmental regulations. Furthermore, the report addresses social sustainability, including employee hires, turnover, incidents of discrimination, and community engagement programs. The report highlights the management approaches and disclosures related to each material topic, providing a comprehensive overview of Timberwell Constructions' commitment to sustainable practices and its efforts to mitigate risks and improve operational efficiency. The analysis covers the importance of protecting biodiversity, energy efficiency, and adherence to environmental laws, emphasizing the company's efforts to balance economic growth with social and environmental responsibility.

Sustainability
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Contents
INTRODUCTION..............................................................................................................3
A. Economic Sustainability...............................................................................................3
Disclosure 201-2 Financial implications and other risks and opportunities due to
climate change..............................................................................................................4
Disclosure 205-3 Confirmed incidents of corruption and actions taken........................4
Disclosure 206-1 Legal actions for anti-competitive behaviour.....................................6
B. Environmental Sustainability........................................................................................7
Disclosure 302-1 Energy consumption within the organisation....................................8
Disclosure 304-2 Significant impacts of activities, products, and services on
biodiversity....................................................................................................................8
Disclosure 307-1 Non-compliance with environmental laws and regulations.............10
C. Social Sustainability...................................................................................................11
Disclosure 401-1 New employee hires and employee turnover..................................12
Disclosure 406-1 Incidents of discrimination and corrective actions taken.................12
Disclosure 413-1 Operations with local community engagement, impact assessments,
and development programs........................................................................................14
CONCLUSION............................................................................................................... 15
References..................................................................................................................... 16
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INTRODUCTION
This is the sustainability report for ‘Timberwell Constructions, in the current year. It was
compiled using the Consolidated Set of GRI sustainability Reporting Standards 2016. The
selected disclosures describe the material topics impacting the economic stability,
environmental sustainability and social sustainability for the company.
Sustainability is the process that is used to maintain the change in a balance
environment in which the human being is exploited the resources, direction of the investment
and some technological development as well. This is important for the maintaining environment
quality so that they have a healthy communities and it also help company to grow as well.
A. Economic Sustainability Economic sustainability is the practices that
mainly support the long term economic growth
without creates negative impact upon social,
environmental and cultural aspect of a
community. It also affect the economy such
that natural resources are an essential inputs
for a production in many sector and it also
leads to pollution and other pressure on an
environment. Poor quality of environment also
affect the economic growth and well-being of
lowering the quantity as well as quality of
resources and due to health impact as well.
Material Topic Description Management Approach
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Disclosure 201-2
Financial
implications and
other risks and
opportunities
due to climate
change
In Australia, the Barloworld, as
identified the biggest risk and
opportunity that is link with the
climate change and some financial
opportunity and this are disclosed in
the response to CDP Climate
Change 2018. It has been identified
that this includes the climate change
and some related physical risk and
kit is due to changing in water
pattern, regulatory risk that is
associated with the greenhouse gas
emission, some financial risk that are
resulting from carbon tax. Apart from
this, it has been identified as a
predominant use of fossil fuels which
is based upon the its supply chain
and operations products and also
provide solutions as a risk to itself
and its value chain as well (GRI
Standards, 2018).
There are some other
risk which is also associated
with the financial implications
such as the competitor’s
action will also erode the
group’s competitive position
and it also have the significant
impact on the value created
for the shareholders and due
to continually reduce the
controllable cost by focusing
on improving the operational
efficiency in order to achieve
the sustainable and optimised
operating models which are
across in a business
(McDermott, Colbert and
Kurucz, 2019). Apart from this,
Timberwell Constructions
should also improve service
levels and the provision of
innovative solutions to their
customers that helps to
differentiate from the
competition.
Disclosure 205-3
Confirmed
incidents of
corruption and
actions taken
It has been identified by GRI
standards that adoption and
compliance with the code of conduct
by the general manager and their
management team also reviewed
again in 2018 and the conformity as
per reporting system suggest that
100 percent response rate and
For this, the organization also
tale Global Whistle Blowing
Policy that set out the
procedure for reporting the
improprieties and some
improper conduct so that the
right of employees and other
are protected which are made
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completeness of the details that is
provided by the absolute compliance
and in the same way, Timberwell
Construction also consolidated an
overview of all compliance case
which are addressed in 2018
throughout an organization
(Caliskan, 2019).
The number of compliance
case in 2018 are total of 30 in
number and which is low in number
as per considering in the size of
group. For that, employees are the
most effective channels that helps to
detect the violation which also
proves the transparency and also
states that 90% of dismissals that
confirms a zero-open-mindedness
culture and steadiness in
remediation (Tura, Keränen and
Patala, 2019).
in good faith. Therefore, all the
procedures are also
established in the formal
documented are accessible to
all the employees.
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Disclosure 206-1 Legal
actions for anti-
competitive
behaviour
This act comes under the action of
206 GRI standards in which it set out
the report requirement on the topic
of anti- competitive behaviour. This
standard also used by the firm of any
size who want a report on its impact
that is related to this particular topic
(Jukic and Young, 2019). Further,
the Anti- trust and monopoly
practices are the action of an
organization that can result in
collusion in order to erect the
barriers of entry and also prevent the
competition as well. In addition to
this, it also includes the unfair
business practices and abuse of
market position, anti- competitive
merger and this concept is also
covered the organization for
economic co-operation and
development as well.
For example, it includes the
fixing prices, coordinating bids and
creating market and output
restrictions and also imposing the
geographic quotas and product lines
(Orengo, Siu and Bakos, 2019).
While on the other side, anti-
trust and monopoly practices
are the action of that
organization which can results
in collusive action that also
prevents from competition.
Thus, it creates impact in GRI
standards and it also refers to
an effect an organization
which has an impact on
economy, environment and
society as well. Moreover, it
also creates a positive and
negative impact as well upon
the company’s performance.
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B. Environmental Sustainability
Environmental
Sustainability
It is the rate of renewable resources harvest and pollution
creation and non- renewable resources that can be continually
indefinitely.
Material Topic Description Management Approach
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Disclosure 302-1 Energy
consumption within
the organisation
As per the GRI standards, the
organization should consume
the energy with defined
manner such that as per the
disclosure of 302- 1, energy is
a necessary input for a
conversion process that is
mostly used for stirring, mixing
and melting heating and air
conditioner of a building
(Asllani, Spiteri and Grima,
2019). In the same way,
Timberwell also used energy
for same process and the
firm’s production itself is a less
energy intensive than a
supplier’s industries and the
quoted company also believe
that energy efficiency and
mitigation of emission are
some major drivers for an
overall efficiency effort. Energy
is a further a relevant cost for
Timberwell construction.
Therefore, the GRI standards
also states that an
organization should avoid the
double counting of fuel
consumption when reporting
self-generated energy
consumption and if the
company also generate the
electricity from a non-
renewable and renewable fuel
source (Petty, 2016). Further,
the company should also only
report the energy which is
consumed by the entitles that
is owned or control by a firm
itself. This will help to
consume the energy by a firm
itself.
Disclosure 304-2 Significant
impacts of activities,
products, and services
on biodiversity
Protecting a biological
diversity in an important in
order to make sure that the
survival of plant and animal
species, genetic diversity and
some natural ecosystem. In
addition to this, it has been
analysed that natural
ecosystem provides a clean
Therefore, protecting
the biodiversity is an important
aspect, the issue is also dealt
with a local level and
according to immediate
environment of each agency
and that is why several action
are also taken. Such that
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water and aim that also
contribute to food security and
human health. On the other
hand, biodiversity also
contributes to local livelihoods
and makes it worthy to
achieve the poverty reduction
and sustainable development
(Joseph and et.al., 2019).
Costa Rica, which is a model
that is a volunteer approach
with an action plan that
involves all the employees for
carbon offsetting program that
is designed to promote the
local diversity in order to
protecting the tropical flora
and fauna in a protected
forest.
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Disclosure 307-1 Non-
compliance with
environmental laws
and regulations
As per the GRI
standards, there are some
fines and penalty is also
described by the government
when a firm is not compliance
with the environmental laws
and regulations. Such that
Timberwell construction
should also pay fine for the
same. At the time of compiling
the information it is also
analysed through the
disclosure of 307-1 that an
organization must include all
administrative and judicial
sanction for failure to comply
with an environmental laws
and regulation (Hawrysz,
2016). Further, it also consists
of international declaration and
conventions and some treaties
that is also related to national,
sub national and an
international or local
regulation. After complete
investigation, it is also
analysed that Timberwell was
also imposed $200000 for
clearing the hectares of
critically endangered
ecological community that is
coastal grasslands.
Apart from this, it has been
cleared that department of an
environment also stated that
cleared area is also identified
under the state- planning
scheme in order to conserve
the flora and fauna attributes.
While on the other side, for
non- compliance with the
environment laws also reflect
the ability of management in
order to assure that the
operations are confirm for
certain performance
parameters and on the other
side, for non-compliance, the
Timberwell constructions also
results in the clean up
obligation and has to pay
some costly environmental
liabilities as well (Fotiadis,
2016). But on the other side,
the quoted firm’s strength is to
offer the best products without
damaging the forest and trees
and this shows that the firm is
now comply with all the
environmental laws and
regulations as per the GRI
standards and this also leads
to expansion as well.
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C. Social Sustainability
Social Sustainability It is the simple process that promotes the well-being in a firm's
own members so that they also support the ability of future
generations in order to maintain the healthy community.
Material Topic Description Management Approach
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Disclosure 401-1 New
employee hires and
employee turnover
As per specified in
disclosure of – 401-1, the
Timberwell construction must
use of total employee number
at the end of reporting period
so that it will help to calculates
the rate of new employees
hired and the total employee
turnover as well. In addition to
this, while compiling the data
from the GRI standards which
are specified in 401-1,
company also make sure that
the data are also used from
102-7 GRI standards that are
also related to general
disclosure in order to identify
the total number of
employees.
Such that currently the
company has 58 male staff
from the area of serving with
different construction that is
related to trade and
profession. Moreover, the local
market for these employees is
highly competitive and
Timberwell also employees 12
new trainees and this is so
because sometimes employee
may leave the job and as per
disclosure of 401-1, firm also
increases the pay rates of their
workers as well (Tran, 2019).
But on the other side, due to
high demand of wages or high
employee turnover, that
directly reflect the level of
uncertainty and dissatisfaction
and that is why the firm has to
hire the employees as per
prescribe by GRI standards
disclosure of 401-1.
Disclosure 406-1 Incidents
of discrimination and
corrective actions
taken
An organization should avoid
the discrimination against any
person on the basis of caste,
gender and age and
discrimination also includes
harassment. It is also defined
in the GRI act as per the 406
disclosure that if the person is
treated unequally and also
Thus, as per the disclosure,
the firm has to pay $4,400 as
a compensation and also ask
to update its anti-
discrimination policy and also
provide the training sessions
to all employees. In this way,
the proper action is also taken
against the discrimination by
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