Both BHP and Woolworths are the leading companies of an Australian market. BHP is an Anglo-Australian multinational company that is having its head office in Melbourne, Victoria, Australia. BHP is the Australian registered Limited company that is listed on the Securities Exchange of Australia and considers to be the widest company in Australia in terms of market capitalisation (BHP, 2018). The industry in which the company conduct their business is metals, mining and petroleum industry. The company is a dual listed company of Australia. BHP was founded in 1885 in the isolated mining town of Broken Hill of New South Wales (BHP, 2018). However, in 2017 BHP arrived as largest mining company on the bases of market capitalization and on the bases of revenue the company is ranked third in Australia. The core product in which the company deals are uranium, nickel, natural gas, copper, petroleum, coal and iron core (BHP, 2018).
Woolworth Group is a multinational company it is having its head office at Bella Vista, New South Wales, Australia. Woolworths Groups falls under the Retail industry. The company is having its retail stores throughout Australia and New Zealand (Woolworths, 2018). In terms of revenue, Woolworth is considered to be the second largest company in Australia after Wesfarmers. Woolworths Group is the leading liquor takeaway retailer of Australia. The company is also operating hotels and Game zones in Australia. In the world, the Woolworths Group was ranked 19th in the retail industry. The core business of the Woolworths is operating supermarket, and liquor retailing, petrol, general merchandise, home improvement, hotels, and gaming (Woolworths, 2018).
Both BHP and Woolworths have accepted the responsibility of Sustainability development. The practice of sustainability development is a basic requirement that each registered company has to follow and both the company are following this practice in respect of their industry. The sign of following the sustainability development is mentioned in the code of ethics conducted by the business.
In 2017, the Woolworths mainly deals in the following issues relating to the environment and society- climate change resilience, diversity, human rights, ethical sourcing and safety. The areas of sustainability that BHP has selected for performing corporate social responsibility are health and safety at workplace, social contribution and investment, greenhouse gas emission, and occupational exposures (BHP, 2017).
Moreover, both Woolworths and BHP contributing equally to the security, safety and wellbeing of the particular employees and people associated with them with the help of various policies and practices designed for aboriginal employment, development, training, recruitment and more. Coles, Target, Kmart, Bunning in UK, Bunning in New Zealand and Australia in terms of their office works adopted the sustainability practice of Woolworths (Woolworths, 2018). The product wise assessment of the company is done in respect of timber, cocoa and agricultural products this empowers the internal comparisons. The company has incorporated a separate division of industrial product evaluation along with the value of supply chain. Supply chain management is the chief component of the Woolworths business operation. The Sustainability report of Woolworths is more detailed and comprehensive. However, internal comparisons is not much made in terms of regional performance in the BHP sustainability reports, the report of on BHP is less detailed (BHP, 2017).
Both Woolworths and BHP are actively publishing their reports on their contribution toward the cultural development of the regions of operations, climate change, human rights, bio diversity, and environment practices. In whole in terms of the content of the sustainability report, Woolworths has provided more insight of its activates in comparison to the BHP.
To save the resources for the future generation it is important for the companies to use the resources efficiently and try to save the resources for the future. The sustainability not only include the use age of resources it also include the effect of industrial waste on the environment. Both companies are taking the topic of sustainability very seriously and while conducting the various business activities they always to keep the use of resources effectively and always try to keep the inner as well as external environment maintained. In the present condition maintain the Sustainability report has become very important which will help the companies in managing brand image for the stakeholders.
It was stated by the Woolworths that, Mr Brad Banducci the CEO of the company has signed the CEO statement by stating its Support towards the Sustainable Development Goals (Woolworths, 2018). The CEO of BHP Mr Andrew Mackenzie has also signed their Support for the Sustainable Development Goals. As per the requirement of the assignment, there are eight Sustainable Development Goals is been find out that are required by the business and the industries of both the companies.
|
S. No |
Sustainable Development Goals |
Segments |
Glimpse of the manner in which the goal is addressed |
|
1 |
Life on Land |
· Timber procurement · Waste and water · Climate change resilience |
The timber production of the company is legally verified responsible and certified sources. |
|
2 |
Climate Action |
· Climate change resilience |
In the financial Disclosure the companies has shown their support for the recommendations of climate related task force |
|
3 |
Reduced Inequalities |
· Community Contributions · Human rights and Ethical Sourcing and |
Application of ethical sourcing and human right audit report |
|
4 |
Decent Work and Economic Growth |
· Ethical Sourcing · Suppliers · People Development · Diversity |
The Woolworths has paid in total 8.7$ billion to the workers in terms of wages, salaries and benefits. The total number of the employees across the Australia is Approx. 203000. BHP has invested 6.5 $ billion for the benefits of the employees |
|
5 |
Sanitation and Clean Water |
· Waste and Water |
BHP has invested $ 16.7 for the treatment of Disposable of Non-Hazardous Waste. Woolworths has used 16000 mega litre of water and has recycled 32% of water |
|
6 |
Gender Equality |
· Diversity |
Both the companies has developed their own gender diversity policies, transition guidelines and gender affirmation |
|
7 |
Zero Hunger |
· Commitment towards Suppliers |
Woolworths has the policy of Australian source food first to maximum extent possible |
|
8 |
No Poverty |
· Ethical Sourcing · Community Contributions |
In 2017 Woolworths has contributed $ 73 million as direct funding to community organisation in New Zealand and Australia |
(Source: BHP, 2017: Woolworths, 2018)
Both the companies are governed by the Sustainable Development Goals such as strong institution, justice, peace, life on land, climate action, reduced inequalities, economic growth, decent work, sanitation, clean water, gender equality, quality education, good health zero hunger, and no poverty (Sustainable Development Knowledge Platform, 2018). The companies adopt these goals as an openly in a form of product render activities and direct business activities or through employment opportunities generation or through various taxes payment for resources used by the company and through social investment programmes.
According to the Zadek et. al, (1997), there are eight key standards of quality is been prescribed that will provide aid in the evaluation of social accounting procedures of the companies. The procedures that is been prescribed to provide a necessity guideline of reporting and auditing the social activates, to identify the risk, and the interest of the stakeholders and will help in making suitability activates transparent. Both BHP and Woolworths has provided a detailed report on the activities performed under the social responsibility. Both companies has identify and include the groups for continuing their business activities such as shareholders, regulators, suppliers, customers, employees and other stakeholders. Moreover, both BHP and Woolworths has prescribed their code of ethics according to which every member of the company has to performance their duties. As per the Dow Jones Sustainability index Woolworths was ranked 78.
In business reconstruction activities Woolworths has been continuously engaged. In the sustainability report of the company is been mentioned that they perfume the social activities as per their Brand value (Woolworths, 2018). The more details restated to social reporting is mentioned in their sustainability report. For fulfilling the sustainability development responsibility both the companies has identified their respective areas such as in case of Woolworth’s timber and palm oil and in case of BHP greenhouse emission and occupational hazards.
In the Financial report and in the Annual report for the year 2017 both the companies have made a full disclosure of their mandatory data. Moreover, the companies have also prepared their sustainability report for the disclosure of their ethical issues. The sustainability audit of BHP is done by KPMG as an external verification (BHP, 2017). Both the companies have a full knowledge about the safety of their employees, climate change resilience, community contribution and robust governance in terms of the social reporting.
(Source: BHP, 2017)
The sated values of BHP from the first figure states the rate of Total recordable injuries the total recordable injury for year 2017 is 4.2 per million hours worked the improvement of 2% is been noticed from the past year and in total 9% improvement in been noticed from past five years (BHP, 2017). The second figure shows the rate of deaths occurred at the work place by seen the data of the company it is been noted that the company is providing better facilities at their work places because the case of death is reduce to 1 in year 2017 and in 2016 there no case of death is recorded. As per the third figure the employees occupational illness is been reported illness due to noise-induced hearing loss is reduced in 2017 in compare to 2016n but the musculoskeletal illness has increased and the other illness due to work was also increased in 2017 (BHP, 2017).
(Source: Woolworths, 2018)
The stated value of first figure of Woolworths states that the emission of the Co2 from the various business activities of the company the maximum amount of Co2 emission is been released from the supermarket in the year 2018 and same in 2016 and 2017. The least amount of CO2 is been released from Thomas Dux in 2016, 2017 and 2018. In rest activities in comparison to supermarket very less CO2 is been released. The second figure of Woolworths stated the use of electricity in this also the maximum amount of electricity among the various business activities is been used by Supermarkets and the least amount of electricity is been used by the Thomas Dux in 2016, 2017 and 2018.
To evaluate the business activities of the chosen companies Woolworths and BHP, to know the social and sustainable development of the companies, and to evaluate the business value we have conducted a group discussion. In the first siting, we all have discussed the business activities of Woolworths while discussing the business few of our team members has raised a question on the ethical issues of the companies supply chain and on the agricultural products procurement s these two are the main part of the Woolworths business activities. we further disused that the company is engaged in the other business activities also in addition to the supermarket such as hotel and gaming, petroleum, timber procurement and few other. In continuation of the discussion, we went on the Sustainability report of the company in which we have found out the various activities that are performed by the company for maintaining the environment and workplace balanced. The company was engaged in the various social activities for generating employment opportunities, region development, and to supporting the dealers in terms of investment and many more.
In our next setting we has decided to make our disusing on the working of the BHP the working will include the business values and business activities of the company. The core activities of the company are mining and extraction of the metals and minerals. The key factors which is been identified through our discussion is that the main focus of the company is been provided to the employees security and safety and on the legal obligation in terms of extraction of the material.
Before starting the report we have compare the Sustainability report of both the companies by comparing we found that both the companies are using different Sustainability development goals. The sustainable development goals of the companies are based on their business activities. While analysing the of the Sustainability report of the companies we have come to know the importance of the sustainable development and the standards are set by the UN for the companies to be followed (United nations Development Programme, 2017).
References
BHP. (2017). BHP Sustainability Report 2017. Retrieved From: file:///C:/Users/System04089/Downloads/2574690_1664922707_bhpsustainabilityreport2017-42%20(1).pdf
BHP. (2018). BHP Sustainability Report 2017. Retrieved From: https://www.bhp.com/our-approach
BHP. (2018). Our Business. Retrieved From: https://www.bhp.com/our-businesses
Gray, R., Dey, C., Owen, D., Evans, R., & Zadek, S. (1997). Struggling with the praxis of social accounting: Stakeholders, accountability, audits and procedures. Accounting, Auditing & Accountability Journal, 10(3), 325-364.
Sustainable Development Knowledge Platform. (2018). Sustainable Development goals. Retrieved from: https://sustainabledevelopment.un.org/?menu=1300
United nations Development Programme. (2017). Sustainable Development goals. Retrieved from: https://www.undp.org/content/undp/en/home/sustainable-development-goals.html
Woolworths. (2018). About us. Retrieved From: https://www.woolworthsgroup.com.au/page/about-us
Woolworths. (2018). Our business. Retrieved From: https://www.woolworthsgroup.com.au/page/about-us/our-brands
Woolworths. (2018). Woolworths Sustainability Report 2018. Retrieved From: https://www.woolworthsgroup.com.au/icms_docs/195398_2018-sustainability-report.pdf
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