The GRI Standards Disclosure of Economic Standards: Disclosure 200

The sustainability report framed by Timberwell Constructions is a guide to the approaches and initiatives that will be undertaken and to make the company more sustainable in its outlook. The Report will consider the GRI framework to explain and propose the sustainability report and will adhere to the guidelines mentioned in the disclosures.  The material of the report will include the aspects of economic, environmental and social sustainability and will be conforming to the specific disclosures mentioned in the 200, 300 and 400 and will address the topic specific standards in the GRI frame work. The report will be divided into three different sections which would elaborate the issues and discuss the sustainability approach taken by the Tiber Wall Constructions. The report will evaluate the positive and negative impacts of the organisation and address them according to the GRI Frame work (Globalreporting.org, 2018).    

Given the current scenario of Timberwell Constructions, it is essential to provide a sustainability report to inform the internal and the external stake holders of Timber Wall Constructions, that the organization is committed to the cause of sustainability in all terms. The report has been prepared with the specific standards laid down y the Global Reporting Initiative, and will comply with the requirements of the GRI framework(Hahn & Kühnen, 2013). The sections to follow will be addressed according to the GRI framework in order of Economic, Environmental and Social sustainability (Berinde & Andreescu, 2015).

This report complies with all reporting requirements for the disclosure of 201-2, 205-3 and 206-1

Disclosure 201-2: Financial implications and other risks and opportunities due to climate change

GRI Disclosure 201-2 requires statements regarding the Risks and opportunities posed by climate change that have the potential to generate substantive changes in operations, revenue, or expenditure, which includes

1. Description of the risk or opportunity and its classification in terms of physical, regulatory or other:

Due to climate change there have been risks of bush fires in the region where Timberwell Construction has a proposed site. There is physical risk due to the effect of climate change.

1. The probable impacts associated with the risks or opportunities:

The organization will need to meet higher safety standards to avoid any loss and hazards due to bushfires .Timberwell might face huge losses since the region of the proposed site includes areas where

1. The financial implications of the risk or opportunity before action is taken:  $50,000.00 has been charged by the Town planning organisation to prepare a environmentally sustainable plan for the project.
2. The methods used to manage the risk or opportunity: proper mitigation techniques and plan has been initiated and external firms have been involved to assess and formulate mitigation plans.
3. The cost of actions to manage or mitigate the risks or opportunity. This would cost Timberwell Constructions around 4 million dollars to comply with the environmental sustainability.

In accordance with the Disclosure 205-3, Timberwell Constructions provides the information regarding incidents of corruption and the subsequent actions taken by the organisation. The following section will deliver the associated information accordingly

1. Total number and nature of confirmed incidents of corruptions:

There have no confirmed instances of corruption or mal practices in the organisation. However there have been allegations of a public corruption scandal which is under prosecution.

1. Total number of confirmed incidents in which employees were dismissed or disciplined for corruption:

Disclosure 201-2: Financial implications and other risks and opportunities due to climate change

There had been no such confirmed incidents of dismissal of employees owing to malpractices, but the employees suspected of corruptions have been discharged of duty without pay till prosecution ends.

1. Total number of confirmed incidents when contracts with business partners were terminated or not renewed due to violations related to corruption:

There have been no confirmed incidents of corruption with business partners, but the external contractors suspected of corruption and mal practices and have been relieved of duty and their contract has been terminated.

1. Public legal cases regarding corruption brought against the organization or its employees during the reporting period and the outcomes of such cases:

There had been one single allegation of corruption related to five employees of the organization and two of the alleged external consultants were suspected to be involved in bribery. The employees have been suspended without pay till end of prosecution. The contracts have been terminated with the external consultants.

Disclosure 206-1 Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices

In accordance with the Disclosure 206-1, Timberwell Constructions provides the information regarding legal actions related to anti-competitive behaviour, anti-trust issues, and monopoly practices. The Disclosure 206-1 of Timberwell Constructions will provide the necessary information in this section in two sections as follows:

a. Number of legal actions pending or completed during the reporting period regarding anti-competitive behavior and violations of anti-trust and monopoly legislation in which the organization has been identified as a participant:

There is a single case of anti-competitive behaviour that was alleged against Timberwell Construction which accuses the organisation to be involved in anti-competitive conduct and misusing their market power. It has been alleged that the organisation has been involved in creating conflicts with its suppliers and contractors and have threatened to reduce or end their contract with Timberwell Construction if they find them being involved with a new development company coming up in the area. The Australian Competition and Consumer Commission (ACCC) have listed a case with the Federal Court which is to be heard in four months time.

1. Main outcomes of completed legal actions, including any decisions or judgments:

The case has been listed with the Federal court and the hearing is due in four months time.

This section of the report includes the statements that are made with accordance to disclosure 302-1, 304-2 and 307-1. This section will discuss about the environmental sustainability of Timberwell Constructions and the way he company plans to mitigate the issues arising due to their operations (Globalreporting.org, 2018).

Disclosure 302-1: Energy consumption within the organization

This section will present with the information regarding consumption of energy by Timberwell Constructions. All sources of energy being consumed by Timberwell Construction will be classified in the report.

a. Total fuel consumption within the organization from non-renewable sources in joules:

The total fuel consumption from non-renewable resources by Timberwell Constructions amounts to 1.0 Gigajoules per annum.

1. Total fuel consumption within the organization from renewable sources in joules:

Disclosure 205-3: Confirmed incidents of corruption and actions taken

The total fuel consumption from renewable resources by Timberwell Construction is calculated at 0.5 Gigajoules per year.

b. Total electricity consumption in Joules:

The total electricity being consumed by Timberwell Construction over a year is calculated at 2.0 Giga Joules.

c. Total energy consumption within the organization, in joules:

The total energy consumption of Timberwell Construction can be calculated as 3.5 Giga joules per annum.

Timberwell Constructions looks forward to reduce its Non renewable energy consumption and raise the energy consumption from renewable energy resources by 50%. Timberwell Construction is a responsible energy efficient organisation and looks forward to become more energy efficient in the next financial year (Globalreporting.org, 2018).

Disclosure 304-2: Significant impacts of activities, products, and services on biodiversity

This section will provide the information regarding the impacts created by the activities and services of Timberwell construction. The report is in compliance with the clauses of the disclosure 304-2.

a. Nature of significant direct and indirect impacts on biodiversity:

The nature of impact created by one of the projects of Timberwell construction has affected the biodiversity by habitat conversion and reduction of species due to construction. The significant impacts due to the development of the project have affected the environment in the following ways. The incidents are as follows:

• Clearing of 0.45 hectares of coastal grasslands that are critically endangered.
• Conversion of habitat of Wallum Sedge Frogs due to a residential project at Otford Park development site.

The grassland habitat can be reversed and Timberwell has made adequate plans to reconstruct the grassland at an estimated cost of $ 440,000.00. The organisation has also formulated an Environmental Impact Assessment report and has decided to act on the habitat of the Wallum Sedge Frogs in their project site.

Disclosure 307-1: Non-compliance with environmental laws and regulations

This section will inform about the financial costs attached to the company due to non compliance with environmental laws and regulations and state the nature of compliance the organisation is involved with, to mitigate the issues. It will be discussed in the following sections:

a. Total monetary value of significant fines:

The company has been charged with a fine of $200,000.00 due to reduction of endangered species of flora. The company has been asked to initiate a rehabilitation programme which would cost the company an amount of $440,000.00. the company has been asked to rehabilitate within the framework and  perform environmental audit in accordance with the LEP or the Local Environmental Plan.

This section of the report will look into the social sustainability of the Timberwell Construction and will report on the basis of the disclosure 401-1, 406-1 and 413-1 (Globalreporting.org, 2018).

Disclosure of Environmental Standards: Disclosure 300

Disclosure 401-1: New employee hires and employee turnover

The report regarding new employee hires and employee turnover will be notified here.

As per reports from Timberwell Constructions the company employees 58 staffs and are only male. The company will hire 12 new employees to cover up the deficit of the 17 employees those have left the company. The employee turnover is 29% since 17 employees have left the organisation on grounds of relocation or alternate options.  The rate of turnover is quite high with 29% of the employees leaving the organisation. The company has formulated policies to address these issues.

Disclosure 406-1: Incidents of discrimination and corrective actions taken 

This disclosure will report the event of discrimination in the organisation. The report will cover the following perspectives

a. Total number of incidents of discrimination during the reporting period: 

There has been only one case of discrimination in the organisation. The case been filed by Dennis McCabe who resigned due to discrimination against him by his coworkers on the grounds of his age. He was the only employee over 50 years of age in the organisation.

b. Status of the incidents and actions taken

The company has complied with the Fair Works Commission’s decision, and has compensated the worker with $4,400.00.  The incident is no longer subject to action and the company is trying to bring employee friendly policies to check such issues of discrimination.

Disclosure 413-1: Operations with local community engagement, impact assessments and development programs.

This section will provide information regarding the community engagement the impact assessments and the development programs undertaken by the organisation.

The sections will broadly discuss about the activities of Timberwell Constructions over the reporting period. Several initiatives have been taken by the Organisation which includes the Environmental impact assessments, programmes based on the local communities, developing projects that would promote social housing concepts for catering the needs of the local people.  The organisation has also joined hands with Stanwell council to comply with the proposed amendments that are to be made according to the Local Environmental Plan. It has presented an EIA report and has agreed to adhere to the environmental guidelines in its existing and future projects. The organisation has been working to mitigate the environmental concerns arising out of its operation. The organisation has also decided to implement the mitigations in six weeks time and address the bushfire zones to reduce the environmental impact. These initiatives will be implemented and monitored along the line to comply with council’s guidelines and be a responsible organisation of the country.

Conclusion

Timberwell Constructions is a responsible organisation and aims to promote sustainability through its operation. This sustainability report has been presented to provide clarity to the internal and the external stake holders who are esteemed partners of the company.  The report gives us a detailed overview of the company position, its practices and its future objectives with accordance to the GRI standards. The report complies with the GRI disclosures and provides information that would allow clarity to all parties by removing any confusing or allegations made thereof.  The GRI standards are global standards to assess the sustainability and are a legitimate evidence of accountability. The report also gives an insight into the organisational policies and the environmental impacts that have risen from operations of the organisations. Though there are several drawbacks that have been identified through in this report, the report will help to mitigate those issues and allow for better compliance with the guidelines and norms of sustainability.

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