GRI Standards: Sustainability Report for Timberwell Constructions

This report provides a sustainability assessment of Timberwell Constructions, a residential development company, based on the GRI (Global Reporting Initiative) Standards. The analysis covers three key areas: economic, environmental, and social sustainability. The economic section examines f...Read More

Governance, Ethics, and Sustainability
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S t u d e n t N a m e :
S t u d e n t U n i v e r s i t y :
Timberwell Constructions

INTRODUCTION
Sustainability covers supporting economic, environmental and social demands where
business sustainability coordinate and manages these demands for looking over the on-going,
responsible and ethical success also named as corporate sustainability (Stacchezzini, Melloni
& Lai 2016). A traditional concept of sustainability includes triple bottom line to consider
evaluating efforts related to short-term effect on profits (Ehnert et al. 2016). Business
sustainability is important for focusing on the factors maintaining the equality between
company’s local impacts and its sustainable progress to make sure the positive affect on key
stakeholders (Khan, Serafeim & Yoon 2016). In the business, it is essential to make sure the
complying of sustainability policies to maintain the transparency of operations effectively.
GRI (Global Reporting Initiative) Reporting Standards are the global guidelines which make
company dependent on the actions and practices effectively ensuring effect on stakeholders,
customers and shareholders by the management to take care (Vigneau, Humphreys & Moon
2015). The applicability of these guidelines globally for reporting sustainability and featuring
the structure of inter-relatedness and showing practices to report at the world-wide level with
different environmental, social and economic local impacts (del Mar Alonso-Almeida et al.
2015). “Timberwell Constructions” case study is analysed implementing the GRI Reporting
Standards for preparing sustainability assessment report of the company pointing at the local
impact of shareholders, customers, shareholders and other key stakeholders.
ECONOMIC SUSTAINABILITY
Economic sustainability is an essential part of sustainability for sustainability and securing
the human resources and material for long-term in the economy. Sustainability is measured
by recovery, recycling and optimal use for fulfilment of needs of the individual’s better future
(Zhong & Wu 2015). To earn returns and valuing investments for long-term requires the use
of natural resources in the global economy (Löf 2018). It is to ensure the ability of supporting
the economy in production and not to waste valuable resources to address the problem of
climate change and other (Mota et al. 2015). The engagement in the corrupt activities pushes
to take actions for avoiding and ensure about not harming the interest of the shareholders,
customers and stakeholders.
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The financial implications faced by “Timberwell Constructions” and climate change related
risks as per the changes made by local authorities. Further, execution of “Local
Environmental Plan (LEP)” by “Stanwell Council” to handle the challenges related to climate
change as implemented by the local authority for making sure about the company’s safety
protection from bushfire. It is expected from the companies to use fire-retardant materials
related to the new guidelines at the construction sites. The company was prone to bushfire as
mentioned in the fact for the changes by local authorities in the area for the development of
site. The steps are taken by the management to address the issue of the company after the
changes made within six weeks and working with local authority. It is important in the
planned organization to be sure about the process in the outside area to work efficiently with
reduction in costs with the four million dollars with fee payment of fifty thousand in the
working of the company to hire. It is recommended that the company should change its
location which complies with LEP guidelines and it should use fire-retardant materials.
As per the current investigation, “five employees and two external consultants” were engaged
in the corrupt activities in “council project offers” after the bribery. As proved by the local
authorities, the individuals were charged for the corruptions. Moreover, the steps were taken
for future regarding employees to avoid expected activities. Within this time, the company
disallowed the pay to the employees after the suspension. The management of the company
stepped towards taking the decision of not to work with the consultants find guilty. It is to
recommend that senior level management should strictly prohibit corrupt actions of
employees and they should formulate anti-corruption environment in the organization.
The series of complaints lodged against the company after the investigation started under
“Australian Competition and Consumer Commission (ACCC)”. After the investigation, it
claimed that the executives of the company worked to learn about the planning of builders
group to start the operations of their own with competition increment for the company.
Timberwell claims to not receiving any business due to the engagement of similar activities
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in business to make sure about the threats by the executives. In the on-going case currently
and judgement on the same by the next four months to be pending involved in the case while
the management not taking any action for the executives. The company should provide
training to eliminate anti-competitive practices and it should formulate guidelines to punish
those who engage in similar activities.
ENVIRONMENTAL SUSTAINABILITY
Environmental sustainability issues are related to the health for the long-term of the
ecosystems, implications while making economic decisions in long-term, company using
renewable resources and limiting the consumption of non-renewable resources (Rigamonti,
Sterpi & Grosso 2016). It is concerned about the maintenance and protection of
environmental resources for the individuals in future. The prevention of consequences related
to the damaged caused by excess pollution related to health aspects and environment (Wong
& Zhou 2015). It needs to protect diverse specie and ecological structure with the
concentration on social welfare (Ones & Dilchert 2012). Moreover, it conveys limits of
individual’s capability in future to ensure about the requirements fulfilment relying on
resources. The biodiversity are destructed by the companies for protecting the interest of
human-kind (Wang & Loreau 2016). Thus, appropriate actions need to be taken by the
organizations for reducing energy consumption by sources that are non-renewable and
complied with legal guidelines by the government executing for the protection and restricting
the use of natural resources in the operations.
The department of industry and science suggest the tools to the company as per the case study
for reporting the use of non-renewable sources considering high i.e. 1.0 Gigajoule. In the
company, electricity is also the key contributor of energy 2.0 Gigajoule. But, implementing
policies are not adequate for renewable resources contributing energy of only 0.5 Gigajoule.
As per the primary issue of using renewable energy sources is low, the management proposed
to address the problem in the future three years committing the use of increase in the overall
energy consumption by fifty per cent. The company should change its operations to promote
the use of renewable energy options and it should invest in renewable energy sources to
sustain its future.
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The company gave “Environmental Impact Assessment” for learning local impact linked to
the setting of environment and dares faced while operational performance due to the reason
of biodiversity. As per the study, in the Otford Park it was found that the company needs to
develop occupying the wallum sedge frogs found rarely and creating pollution. Further, in the
assessment, covering of the site area is 60 per cent of frogs and company’s actions harming
the frog’s population. In the company, the continuous operations showing the extinction of
these frogs as given in the case study. Thus, it is the major issue where the organization
process alongside environmental groups and Stanwell Council to make sure about saving
these frogs species for avoiding the adverse effect engaging the company’s measures. The
change in the location is considered by the management in the operations of the company to
make sure the protection of the species. Policies for protection of biodiversity should be
formed by the company and it should take precautionary measures to further protect flora and
fauna near its operation sites.
The complaints filed against the company founded by the department were related to the
problems of environment and energy mentioned in the cast study at the time of operations.
The company cleared the group of coastal grasslands of around 0.45 hectares that is
ecologically endangered considering the area of flora and fauna aspects with regulations
violating by the measures. The concern relating to the fulfilment of legal duties with the need
of fine paid costing $200,000 mentioned by the authority to fail as depending on the policies
and making sure about the condition with the fulfilment of legal duties. It is important to
execute the plan regarding rehabilitation for ensuring as per the need of the company for
future not relying on likely issue and costing not less than $440,000. The extension of audit
program as ordered to the company to make sure the monitoring and regulations consisting
contractors actions. A separate committee should be created by the company that monitors its
actions to make sure it complies with environmental laws and it should invest in expanding
its rehabilitation plans.
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SOCIAL SUSTAINABILITY
In the company, social sustainability in business is to identify and manage the positive and
negative impact on the local people where it is difficult to analyse the relationships quality
and customers, shareholders and stakeholders engagement (Eizenberg & Jabareen 2017).
Considerably, the employees, value chain workforce, local communities and customers affect
the companies directly or indirectly and manage the local impacts proactively (Hervani,
Sarkis & Helms 2017). It is to ensure the improvement in the individuals’ lives with the
contribution of making job opportunities in the business, meeting common needs by
providing services and value chain completeness (Missimer, Robèrt & Broman 2017).
Moreover, individuals are affected by the companies while making social strategic
investments and public policies for promoting to support social sustainability for positive
impact with building strengths locally (Longoni & Cagliano 2015). The companies need to
focus with taking actions correctly with local groups by workforce development to increase
the engagement and interactions. Therefore, it helps the companies with local groups by
implementing programs for the development with doing operations accurately for the positive
impact.
In the report, the company hired 58 employees for handling the operations of the company
that consist trade linked to management and construction of regular operations by experts.
The 12 new trainees were appointed in the company for the expansion of operations where 17
employees left the company for joining the company’s competitors to establish their own
business. In the case study, the major concern of the company was its hiring rate presently of
20.6 per cent as per the data given in the report and employees leaving the company with the
rate of 29.3 per cent. The management took an action to address the problem of employees
leaving the organization by increasing the pay packages and executing innovative system in
roaster for day-off by making sure about the employees holding rate increment. The company
should focus on creating an overall positive working culture to reduce employee turnover and
to provide attractive packages to the employees for holding them.
Under “Fair Work Commission (FWC)”, the complaint was filed against the company by the
past employee related to the workplace harassment to be the company’s prior issue. In the
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company, the number of employees is in the range of 30 and 50 as reported by the past
employee whose age was above 50 years. The reason of leaving the company was other
employees making fun regarding the age factor where company did not take any action
against it for removing this behaviour. Therefore, the company was found guilty by the
commission competing with the past employee and ordered to pay $4,400 and it leads to
changes in the company to make for future implementing “anti-discrimination policy” to
ignore similar activities. So the management followed the orders given by the commission
reducing the workplace harassment and discrimination. It is recommended that age based
anti-discrimination policy should be formed and implemented strictly. Furthermore,
employees that engage in discriminatory practices should be given counselling to make sure
that they avoid engaging in similar behaviour and practices that create negative working
environment.
The issue of media releases made company to increase the interactions with local groups
regarding the details provided about the actions effects like protecting the biodiversity. The
company ensures about no extinction of rare species of the frogs in the region by taking
actions as per the information given with the conduct of “Environment Impact Assessment”
related to the actions affecting the local groups taken by the company. The management of
the company is not taking actions for providing development of local groups. It is
recommended that the company should make more media releases regarding its initiatives
and its senior management should invest in development programs for local communities.
CONCLUSION
To conclude, in the case study of “Timberwell Constructions”, the company reported in
different areas where actions are taken with the underlined operational insufficiency. In the
company, implementation resulted in failure related to policies of sustainability consisting
discrimination avoidance at the workplace with varied promotion, natural resources
protection, using non-renewable energy and conduct of anti-competitive by the management
taking actions. It is for addressing the issue in relation to the usage of the renewable energy
sources, biodiversity protection and measures to take proactively and increase in employees
holding rate. Therefore, in future the challenges addressed by the company related to
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sustainability and providing success report afterwards important for the company after
reporting the identification of local impact on customers, shareholders and stakeholders at
different regions. The steps are taken by the management for the improvement in the
company by reducing carbon emissions and to make sure of employees interacting for not to
violate the rights for providing positive report of the company in future.
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