The following report takes into the considerations the GRI disclosure for Timberwell Construction. The report will offer the foundations for implementing and making the use of the GRI standards to report in the areas of economic, environmental and social impact (Tricker and Tricker 2015). The GRI standards act as the part of common language for Timberwell Construction and its stakeholders through which the economic, environmental and social impacts on the company can be understood and communicated.
Timberwell Constructions
Sustainability is considered to be an integral part of doing business. It is not only concerned with the product, which Timberwell construction create, but it is concerned with solving the problems as well. The company is at the forefront of the innovation, technology and science that places the firm in unique positions to implement its science to solve the problems of facing the planet in the modern day. The sustainability report will provide a redefine role of business in the society by making the use of science and technology to drive the sustainability excellence and lead a benchmark for sustainable society. The company will deliver sustainability goals and will continue to value through the help of innovations.
From
Chairman
GRI G4-1
Timberwell construction in agreement with the risk and opportunities posed by the climatic change has the ability to produce substantial amount of change in the operations, revenue and expenses. Timberwell Construction explains the risk or opportunities and its categorization either in physical and regulatory form (McCahery, Sautner and Starks 2016). In relation to the impacts of global warming on climate changes and the increased risk of bushfires the Stanwell Council lays down the proposal relating to the amendments of local environment in order to rezone the specific areas at the Stanwell Districts as a “bush fire prone”.
Timberwell Construction while compiling the information specified in the disclosure 201-2 it has the developmental site in the Stanwell district, which is located in the area that will be rezoned since it is prone to bushfire under the LEP amendments (Junior, Best and Cotter 2014). The new regulations might cost Timberwell approximately $4 million to with. Other risk and opportunities could be considered with the accessibility of the new technology or services to consider the challenges associated with the climate changes together with the changes in the behaviour of consumers.
Timberwell being the reporting organization reports the information with the total figure and nature of confirmed incidents of corruptions. Timberwell undertook the campaign of public relation to address a great deal of negative publicity. To improve the public image Timberwell Construction the organisation has issued a series of medial release, which is, intended to explain that the organisation is a good corporate citizen (Van and De Haes 2017). Stakeholders have the interest in the occurrence of incidents and Timberwell constructions to act in response of the incidents. Public legal cases regarding corruption can consider the public investigations, prosecutions or closed cases. Timberwell considers the total number of incidents that are confirmed where employees have been dismissed because of disciplinary corruptions. Timberwell also considers the incidents when the business contracts are terminated with their business partners due to violations. The media release considers the public legal cases regarding corruptions, which was brought against the organization or its employees during the reporting period.
Timberwell construction reports the total number of lawful actions pending or that have been completed while reporting the anti-competitive behaviour together with the violations of anti-trust and monopoly legislation (Iliev et al. 2015). Complains were lodged to the number of government authorities regarding Timberwell operations. This disclosure is related to the lawful actions that is initiated under the national or international laws, which is designed primarily with the purpose of regulating the anti-competitive behaviour, anti-trust or monopolies practices. Anti-competitive behaviour or monopoly practices can create an effect on the choice of customer, pricing and other factors, which is necessary to the effective markets.
Lawful actions reflects that Timberwell had indulged in such activity with the purpose of deterring and prohibiting the new entrant in the development market at the Stanwell district to substantially cut down the competition in the market. In agreement with the disclosure, 206-1 lawful actions towards anti-competitive behaviour is listed which is to be heard by the Federal court in time of four months (Armstrong et al. 2015). Legal decisions originating from such situation carries the risk of disruptions to the market activities of the organisation together with the disciplinary measures.
The disclosure of 302-1 is concerned with the consumptions of energy within the organization where the reporting companies reports the total quantity of fuel consumption within the organization from the non-renewable sources. In the latest media release Timberwell constructions has stated to become an energy efficient organization. Electricity is the most significant form of energy, which they consume (Larcker and Tayan 2015). The non-renewable sources comprises of fuel for combustion in boilers, furnaces, turbines and heaters, which is controlled by the organization. In the latest media release by the Timberwell construction, it has stated that the organization has implemented a program to increase its fuel consumptions from the renewable source of energy to at least 50% of the overall fuel consumption in a span of three years. During the process of compiling, the information specified in disclosure 302-1 Timberwell implements the factors of conservation by disclosing the data.
In agreement with the requirement of 304-1 operational sites owned by the Timberwell construction is adjacent to the protected areas and the areas of high biodiversity value. The company observes the activities taking place in both the protected areas along with the areas of high biodiversity that is outside the protected areas making it possible for the organization to cut down the risk of impact (Claessens and Yurtoglu 2013). This makes possible for Timberwell Construction to manage the impact on the biodiversity or to avoid the mismanagement. Timberwell construction in agreement with the latest media release has explained that the organization undertakes considerable amount of expenditure to engage in the program of local communities, performing impact assessments and undertaking the initiatives for devising the communal development programs for the planned suburban developments. Such disclosure by Timberwell provides the background for understanding the organizations strategy to mitigate the sufficient amount of direct and indirect effects on the biodiversity (Joseph, Ocasio and McDonnell 2014). By providing the qualitative information, such kind of disclosure provides Timberwell construction to contrast the relative size, scale and nature of impacts over the period of time and across the company.
The reporting organization reports the significant sum of fines and non-monetary sanctions related to the non-compliance with the environmental laws and regulations in terms of the total monetary value of such fines. During the process of compiling information specified in Disclosure 307-1 the reporting organization should include the administrative and judicial sanctions for failing to comply with the environmental laws and regulations (Westphal and Zajac 2013). This comprises of international declarations, conventions and treaties associated with the national, sub-national regional and local regulations. After conducting the investigations, a fine of $200,000 was imposed on Timberwell for cutting down 0.45 hectares of critically endangered ecological community coastal grasslands.
The department of environment have highlighted that a cleared area was recognised under the schemes of state planning within Timberwell. This can highlight the ability of the management in ascertaining that the functions complies with the performance parameters. In certain situations, non-compliance by the Timberwell construction might lead to clean up obligations or any kind of costly environmental liabilities (Bell, Filatotchev and Aguilera 2014). The strength of Timberwell compliance records might also create an impact on the operations and expansion of the company as well.
At the time of compiling the information specified in disclosure 401-1 the reporting firm should account for total number of employees following the end of the reporting period. This helps the company to compute the rate of new employee hired and total number of employee turnover (Berger, Imbierowicz and Rauch 2016). Timberwell while compiling the information stated in Disclosure 401-1 it uses the information from the disclosure 102-7 in GRI 102 that is associated with the general disclosure of recognizing the total number of employees. Timberwell employs 58 male staff from the areas that have different construction associated with the trade and professions. The local market for those workers is very competitive and during the reporting period, Timberwell has employed 12 new apprentices. Furthermore, seventeen employers have left the employment and in agreement with the disclosure 401-1, Timberwell Construction has increased the pay rates of the workers. Additionally it has also applied a monthly roster to retain the current strength of staff. A high rate of employee turnover might reflect the degree of uncertainty and circumstances of dissatisfaction among the employees (Fassin 2015). Hence, the employee turnover can reflect a fundamental change in the structure of the central operational functions of the organization.
Timberwell as the reporting organization reports the total number of incidents that occurs during the reporting period. The organization offers the status concerning the incidents together with the actions taken with reference to the incidents reviewed by the organization. During the process of compilation the information provided in the disclosure 406-1 Timberwell being the reporting firm considers the event of discriminations (Edmans 2014). In its latest reports, one of the employees resigned and filed a complaint of workplace harassment claim to the fair work commission by explaining that an individual was discriminated based on his age. In addition to this, the employee alleged that he was the target of humiliating age related jokes from the employees. The work commissioner upheld the claim and was awarded with compensation. Timberwell construction remediate the plans that is implemented and reviews through the help of the internal management procedure. The existence of rules helps in avoiding the discrimination and forms the basic prospect of communally responsible conduct.
The reporting firm is required to report the percentage of operations that is implemented with the local community engagement, assessment of impact and programs for development. This comprises of the social impact assessment together with the environmental impact assessment. In the latest media release, Timberwell Construction provided the description on the performance of the environmental impact assessment (Misangyi and Acharya 2014). Timberwell noticed that the development site at the Otford Park was populated with rare wallum sedge frog. In the latest media release, Timberwell had approximated that the medium density residential development was proposed for the site, which would irrevocably change the habitation and would make it inconsistent with the survival of the frog on the area. Timberwell in their media release had explained that it has implemented the strategy with the purpose of administering the proposed development of the area together with the conservation of the wallum frog. Timberwell considers the vital element in managing the effect of the people in the local communities by assessing and planning so that it can understand the original and the probable effect with the local communities to understand their needs. Timberwell as and when possible is anticipated and side step the negative impact on the local communities (Bebbington, Unerman and O’Dwyer 2014).
Conclusion:
The sustainability report has been prepared in accordance with the GRI standards for Timberwell Construction that offers a balanced representation of the organisation both the positive and the negative assistances to the goal of sustainability development. The information, which is provided with the assistance of sustainability reporting, enables the external and the internal stakeholders to form an opinion. The GRI reporting enables them to make a knowledgeable decision concerning the Timberwell construction contribution towards the goal of sustainable development.
Reference List:
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