Get Instant Help From 5000+ Experts For
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing:Proofread your work by experts and improve grade at Lowest cost

And Improve Your Grades
myassignmenthelp.com
loader
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!
Free Quote
wave

Economic Sustainability Assessment

Question:

Discuss about the sustainability of Timberwell Construction.

The report is prepared for assessing the sustainability of Timberwell Construction by referring to consolidated sets of sustainability reporting standards of GRI (Global Reporting Initiative), 2016. Such assessment assists companies in evaluating the affect of operations of society, environment and economy. In this particular assignment, sustainability report of a residential development company is prepared by referring to specific disclosures concerning environmental, social and economic standards. Economic sustainability of organization has been explained in relation to various disclosures relating to corruptions, legal actions for anti competitive behavior and financial implications relating to climate change (Doh et al. 2016). Impact of operations of Timberwell is assessed in reference to disclosures of non-compliance with environmental regulations, consumption of energy and considerable impact of their activities on bio diversity. Later part of report depicts assessment of social sustainability in relation to attrition, operations and discrimination incidents.

A: Economic sustainability

Assessment of economic sustainability is done in reference to several disclosures. Disclosure 201-2 is about the opportunities, risks and financial implications on organization due to climatic conditions resulting from operations. Organization complying with this disclosure would be required to report the information of any substantial change in revenue, operations and expenditure due to climatic change. For compiling the information, some additional characteristics relating to magnitude of impact, direct and indirect impact should be reported (Barkemeye et al. 2014). The timeline and plan should be reported by organization if there is no system for the computation of revenue projections or financial implications.


Analysis of case study depicts that Timberwell was fined as their operations led to critically endangering coastal grassland of ecological community. Area that was cleared by company for the construction destroyed the attributes of flora and fauna. In light of this, disclosure should be made about methods that would be used for managing the opportunities and risks such as improving energy efficiency, use of carbon offsets, lower carbon footprint energy and fuel switching (Doh et al. 2016).

Disclosure 205-3 is about confirming corruptions incidents and taking actions accordingly. As per this disclosure requirement, reporting organization is needs to disclose total number of corruption incidents. There should also be disclosure about any legal case file against the company and employees dismissal (Wang et al. 2015). It is required by stakeholder of company to have an interest in response of organization towards incidents and occurrence of incidents.

Environmental Sustainability Assessment

Timberwell construction was involved in bribing the official of council projects for development of application of company through the approval process. Outcome of prosecution is pending and this should be reported in the sustainability report. Termination of partnership contracts with two external consultants should be disclosed (Vigneau et al. 2015).

Disclosure 206-1 illustrates the reporting of legal actions for anti competitive behavior, monopoly practices and antitrust. It is about disclosing legal actions against company for antitrust and anti competitive behavior. Total number and outcomes of legal actions including judgment and decisions should be disclosed by organization (Fernandez et al. 2014).

Analysis of case study depicts that Australian competition and consumer commission alleged Timberwell for engaging in activities of violation of monopoly practices and anti competitive behavior. They were engaged in misusing exclusive dealings and market power for preventing and deterring new entrant in the development market of Stanwell district. The case filed by ACCC against their anti competitive behaviors was filed in the Federal court that should be disclosed in the sustainability report.

B: Environmental sustainability

Assessment of environmental sustainability of Timberwell is done in reference to disclosures of GRI. Disclosure 302-1 deals with the requirement of company to make reporting of total consumption of energy and accordingly disclosing consumption of renewable and non-renewable energy along with heating, cool and steam consumption. Double counting of consumption of fuel should be avoided and there should be separate reporting of renewable and non-renewable sources. Computation of total consumption of energy should be done by using the recommended formula as per the disclosure.

As depicted in the case study that Timberwell Construction has media released depicting that organization is energy efficient by attaching a report on energy consumption table. The table indicates that appropriate calculation tools that is used by organization as recommended by the Australian department of Science and Industry (Hoffman et al. 2014). It was also illustrated that organization relies on the increased consumption of non-renewable sources of energy by the implementation of environmental program. Hence, it can be said that Timberwell constructions complies with the environmental regulations. As per this particular disclosure, it is required by reporting organization to use local conversion factor and generic conversion factors and this is subject to different methodologies and approach. It can be seen from the case study in the section of media release that organization is complying with rules and regulations pertaining to environment.

Social Sustainability Assessment

Disclosure 304-2 requires organization to report the considerable impact of their operations and services and products on bio diversity. Information relating to pollution, habitat conversion, changes in ecological process and along with direct and indirect impact of their activities. Organizations will have a clear understanding of strategy that will help in mitigation of indirect and direct effect on biodiversity (Tricker and Tricker 2015). They will be provided a background for presenting qualitative and structured information that enable to compare the impact of their operations over time.


Activities of Timberwell for clearing the areas have considerable impact on attitudes of flora and fauna. Ordered was received by company for conducting external review of management plan of its vegetation (Winkler 2017). They are also required to implement the rehabilitation plan and all such actions of reporting entity should be disclosed in their sustainability report.

Disclosure 307-1 is about reporting of any non-compliance with the environmental regulations and rules. There should be reporting non-monetary sanctions and considerable fines that are imposed due to incompliance with such laws. It is in relation to total number of cases that are brought through dispute resolution mechanisms, total number of monetary sanctions and significant fines (Hoffman et al. 2014). In event when there has not been any identification of regulation and rules pertaining to environment, a brief statement should be made in their sustainability report.

Administrative and judicial sanctions are to be incorporated when organizations fail in complying with regulations. Activities of organization depicts that operations is not confirmed to certain parameters. Nevertheless, in certain circumstances, incompliance with such regulations results in cleaning up of costly environmental liabilities.

Disclosure 401-1 of the GRI standard is disclosing information about any new hired employee and rate of employee turnover. Disclosure should be made about newly hired employees in relation to gender, age and religion. Computation of rate of newly hired and employee turnover accounts for total number of employee within the organization.

Case study depicts that due to prevailing uncertainty and dissatisfaction among employees, there is a high rate of employee turnover as seventeen employees have left. Sustainability reporting standard requires organization to make disclosure about implementation process of recruitment. This is so because higher attrition rate have considerable impact on productivity. Timberwell Construction should have proper disclosure of their employee’s selection and hiring process.

Disclosure 406-1 is about mentioning of any discriminating incidents within the organization and corrective actions that should be taken. As per the guideline, there should be complete disclosure about discriminated incidents, actions taken and status of incidents, any accidents that are reviewed and remediation plans (Crane and Matten 2016).

Engagement with Local Community Assessment


It is depicted in the case study that Timberwell Construction practiced discrimination among employees and one of employees was discriminated and became humiliation target within the company. Employee filed a workplace harassment claim and it received an order of updating their anti discrimination policy by Fair Work commission. Sustainability report should make the disclosure about any remediation plan that is incorporated in the internal review management.

Disclosure 413-1 requires organization to make reporting about their engagement with local community, development programs and assessment of impacts. Assessment about ongoing monitoring, environment and social impact and adherence to disclosure requirement should be reported.

Any particular actions taken for protecting vulnerable groups and differentiated nature of local communities is required to be considered by organization. Several numbers of tools should be used by organization for community engagement and assessing social and human rights (Du Plessis et al. 2018). Organization such as Timberwell should undertake diverse set of approaches for appropriately identifying the characteristics of community.

Conclusion:

The performance of Timberwell Construction has been deteriorated in terms profit generated and higher employee turnover. This has been mainly due to their incompliance with the sustainability-reporting standard in accordance with GRI. Analysis of case study depicts that company was engaged in corruption practices, anti monopolist and anti competitive behavior acts that has led to violation of such acts. All the impacts of operations of company should have proper disclosure in accordance to principles of GRI. Moreover, elaboration should be done in relation of specific disclosure requirement pertaining social, economic and environmental impact. In the current scenario, Timberwell should make strict adherence for complying with different sustainability requirement and standards

References list:

Barkemeyer, R., Preuss, L. and Lee, L., 2015. On the effectiveness of private transnational governance regimes—Evaluating corporate sustainability reporting according to the Global Reporting Initiative. Journal of World Business, 50(2), pp.312-325.

Crane, A. and Matten, D., 2016. Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Doh, J., Husted, B.W. and Yang, X., 2016. Guest Editors’ Introduction: Ethics, Corporate Social Responsibility, and Developing Country Multinationals. Business Ethics Quarterly, 26(3), pp.301-315.

Du Plessis, J.J., Hargovan, A. and Harris, J., 2018. Principles of contemporary corporate governance. Cambridge University Press.

Fernandez-Feijoo, B., Romero, S. and Ruiz, S., 2014. Commitment to corporate social responsibility measured through global reporting initiative reporting: Factors affecting the behavior of companies. Journal of Cleaner Production, 81, pp.244-254.

Hoffman, W.M., Frederick, R.E. and Schwartz, M.S. eds., 2014. Business ethics: Readings and cases in corporate morality. John Wiley & Sons.

Ruiz-Lozano, M. and Nieto, R.R., 2018. Ethics and Corporate Social Responsibility in Human Resource Management. In Business Education and Ethics: Concepts, Methodologies, Tools, and Applications (pp. 1219-1232). IGI Global.

Tricker, R.B. and Tricker, R.I., 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA.

Vigneau, L., Humphreys, M. and Moon, J., 2015. How do firms comply with international sustainability standards? Processes and consequences of adopting the global reporting initiative. Journal of Business Ethics, 131(2), pp.469-486.

Wang, D.H.M., Chen, P.H., Yu, T.H.K. and Hsiao, C.Y., 2015. The effects of corporate social responsibility on brand equity and firm performance. Journal of business research, 68(11), pp.2232-2236.

Winkler, D., 2017. How do multinationals report their economic, social, and environmental impacts? evidence from global reporting initiative data.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2019). Assessing The Sustainability Of Timberwell Construction - GRI Reporting Standards. Retrieved from https://myassignmenthelp.com/free-samples/sustainability-of-timberwell-construction.

"Assessing The Sustainability Of Timberwell Construction - GRI Reporting Standards." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/sustainability-of-timberwell-construction.

My Assignment Help (2019) Assessing The Sustainability Of Timberwell Construction - GRI Reporting Standards [Online]. Available from: https://myassignmenthelp.com/free-samples/sustainability-of-timberwell-construction
[Accessed 19 July 2024].

My Assignment Help. 'Assessing The Sustainability Of Timberwell Construction - GRI Reporting Standards' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/sustainability-of-timberwell-construction> accessed 19 July 2024.

My Assignment Help. Assessing The Sustainability Of Timberwell Construction - GRI Reporting Standards [Internet]. My Assignment Help. 2019 [cited 19 July 2024]. Available from: https://myassignmenthelp.com/free-samples/sustainability-of-timberwell-construction.

Get instant help from 5000+ experts for
question

Writing: Get your essay and assignment written from scratch by PhD expert

Rewriting: Paraphrase or rewrite your friend's essay with similar meaning at reduced cost

Editing: Proofread your work by experts and improve grade at Lowest cost

loader
250 words
Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Attach file

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Plagiarism checker
Verify originality of an essay
essay
Generate unique essays in a jiffy
Plagiarism checker
Cite sources with ease
support
Whatsapp
callback
sales
sales chat
Whatsapp
callback
sales chat
close