Sustainability report is considered as that report which highlights the actions taken by the organizations in context of the economic, environmental, and social impacts resulted from the activities conducted by the organization. This report further states the values and governance models in terms of the chosen organization. It further reflects the connection between the strategy of the organization and commitment of the organization in terms of ensuring the sustainable global economy.
This report is prepared on the basis of the Global Reporting standards (GRI) and reflects all the required disclosures. GRI standards are defined as the first global standards in lieu of the sustainability reporting. The main aim of these standards is to reflect the modular and unrelated structure of the reporting material, and states the best practices accepted at global level (GRI, 2018).
This paper shows the GRI standards reporting, and this reporting is done on the basis of the given case study that is Timber Well Constructions. Timber well is the organization which conducts its business in the construction industry and it mainly performs its functions in the residential development projects. This organization mainly builds the apartments in the district of Stanwell council. There are three sections in this report that are economic sustainability, environmental sustainability, and social sustainability. Further these sections report on the incidents occurred in the Timber Well on the basis of the GRI disclosures. Brief conclusion is stated at the end of the report for concluding this report.
Economic model related to the sustainability of the GRI standards reflect the impact of the business operations conducted by the organization on the economic reliability of its stakeholders and also the economic system at national and international levels. All these standards further shows the movement of capital in the different stakeholders of the organization, and it further reflects the impact of economic aspects of the organization in the complete society (Pravin, & Murali, 2017).
Financial implications and other risks and opportunities due to climate change- This disclosure mainly highlights the risk and opportunities in lieu of the changes occurred in the society, and it further aims to ensure the required changes in the profits and expenditures of operations (GRI, 2016a). Some of the reporting guidelines related to Timber well Constructions are defined below-
Disclosure 205-3 Confirmed incidents of corruption and actions taken Economic sustainability- This disclosure aim to show the organization actions impact on the society, climate, and local community (GRI, 2016b). Some of the reporting guidelines related to Timber well Constructions are defined below-
Disclosure 206-1 Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices- This part of the report defines the legal actions taken by the organization under the national and international laws in terms of the practices related to the anti-competitive behaviour, anti-trust, or monopoly (GRI, 2016c). Some of the reporting guidelines related to Timber well Constructions are defined below-
Environmental sustainability model in the GRI standards reflect the impact of the organization actions on the on both living and non-living natural systems of the nation.
Disclosure 302-1 Energy consumption within the organisation- This disclosure of the GRI states the energy consumed by within the organization and this consumption is determined by evaluating different factors (GRI, 2016d). Some of the reporting guidelines related to Timber well Constructions are defined below-
Disclosure 304-2 significant impacts of activities, products, and services on biodiversity- This disclosure state the impact of the organization functions on the biodiversity (GRI, 2016). Some of the reporting guidelines related to Timber well Constructions are defined below-
Disclosure 307-1 Non-compliance with environmental laws and regulations- This part of the report defines the penalties imposed by the authorities on the Timber well because of the non-compliance of the laws and regulations deals with the environment (GRI, 2016f). Some of the reporting guidelines related to Timber well Constructions are defined below-
This section of the report ensures the assessment of the impact from the organization functions on the society and local community of the nation.
Disclosure 401-1 new employee hires and employee turnover – Some of the reporting guidelines related to Timber well Constructions are defined below (GRI, 2016g)-
Disclosure 406-1 Incidents of discrimination and corrective actions taken – Some of the reporting guidelines related to Timber well Constructions are defined below (GRI, 2016h)-
Disclosure 413-1 Operations with local community engagement, impact assessments, and development programs- Some of the reporting guidelines related to Timber well Constructions are defined below (GRI, 2016i)-
Conclusion
This report is prepared on the basis of the Global Reporting standards (GRI) and reflects all the required disclosures. This report further represents the modular and unrelated structure of the reporting material, and states the best practices accepted at global level. Economic model related to the sustainability of the GRI standards reflect the impact of the business operations conducted by the organization on the economic reliability of its stakeholders and also the economic system at national and international levels.
References
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