Answer To: Page 1 XXXXXXXXXXKaplan Business School Assessment Outline Assessment 3 Information Subject Code:...
Ishika answered on Jun 12 2021
Sustainability Report
Running Head: SUSTAINABILITY REPORT 0
SUSTAINABILITY REPORT 7
Tramalway industries
Sustainability Report
Student’s Details
6/12/2020
Overview
The following report is a GRI sustainability report for Tramalway Industries. The report has described various issues related to sustainability of the company and included the information related to the economic sustainability, environmental sustainability and social sustainability which are the three main pillars of sustainability. Tramalway industries are a manufacturing company which is operating its business in various markets. Company has faced many issues but resolved with the sustainable solutions.
Contents
Introduction 3
Background 3
Methodology 3
Economic Sustainability 4
GRI 201 – Economic Performance 4
Disclosure 201-4 financial assistance received from the government 4
GRI 203 – Indirect Economic Impacts 4
Disclosure 203-1 Infrastructure Investments and services supported 4
GRI 204 – Procurement Practices 5
Disclosure 204-1 Proportion of spending on local suppliers 5
Environmental sustainability 5
GRI 301 – Materials 6
Disclosure 301-1 Materials used by weight or volume 6
Disclosure 301-2 Recycled input materials used 6
GRI 306 – Effluents and Wastes 6
Disclosure 306-3 Significant spills 7
Social sustainability 7
GRI 408 – Child Labor 7
Disclosure 408-1 Operations and suppliers at significant risk for incidents of child labour 7
GRI 412 – Human Rights Assessment 8
Disclosure 412-2 Employee training on human rights policies or procedures 8
GRI 417 – Marketing and Labelling 8
Disclosure 417-3 Incidents of non-compliance concerning marketing communications 8
Conclusion and Recommendations 9
References List 10
Introduction
The GRI standards, which are recognized as global reporting standards, are designed to achieve sustainability reporting within organizations and this standard is also used by Tramalway Industries. The reporting standard is a type of system that can include a modular and interrelated structure of data. Whose primary goal and the main role is to represent best reporting practices for a wide range of social, economic, and environmental activities and are universally accepted and incorporated into tramway industries (Gallego-Álvarez, Lozano and Rodríguez-Rosa, 2018). In addition, the information might need to discuss a few difficulties identified with wellbeing, security, sustainability and supportability of gatherings in sleek and Tramalway ventures mostly. It permits in associations, organizations, and remarkable undertakings to get and interconnect their private impact actually various challenges that include individual advantages, contamination and neighbourhood atmosphere exchange.
Background
The Sustainability Report of the companies consists of three pillars - Environment Pillar, Social Pillar and Economic Pillar. The environmental pillar gets the most attention in any business's sustainability report. Under this, all companies focus on reducing their overall impact on the environment of water usage, packaging waste, carbon footprints etc. Experts have their own opinion on the social aspect of sustainability; some even call it a bad concept because it balances local and global levels as well as group needs and individual needs. Under Economic Sustainability, companies feel that they are firmly on the ground. Along with profitability, companies also pay attention to durability.
Methodology
A worldwide announcing activity known as global reporting initiative (GRI) is an office with worldwide self-overseeing necessities and is described by an exact methodology. The GRI system and methodology may help the organization in gathering, assembling, and bookkeeping data within a superb and related manner, and this may with the end goal of maintainability broadcasting. From a speculative factor of supposition, the supportability and sustainability approach ensures improvement and salary, notwithstanding troublemaking human progress and wide open with the organization's capitals.
Economic Sustainability
Economic sustainability focuses on equal economic development, which generates wealth for all without harming environmental and social values. The equal distribution of investment and economic resources strengthens other pillars of sustainability for full development. Through economic sustainability, it is possible to use the available resources to their best advantage; different strategies are identified by economic sustainability. Through this, there is a possibility of providing long term benefits and the idea is to promote the use of resources that are both efficient and responsible. On account of business activity, this calls for utilizing assets with the goal that the business keeps on working over various years, which reliably restoring a great and reliable benefit.
GRI 201 – Economic Performance
Disclosure 201-4 financial assistance received from the government
This disclosure reflects financial transparency very well and is an important measure of financial transparency. By which it is ensured that evils like crony capitalism cannot infiltrate the system of economy. This part gives the proportion of the commitments created and initiated by the legislature to Tramalway Industries to introduce a target image of the exchanges occurring between the administration and this association.
A total of 15 million dollars of research and development grants from the federal government were provided to Tramalway Industries. This grant has been given to help continue the quantum leap in the field of biotechnology research (Boiral, Heras-Saizarbitoria and Brotherton, 2017).
GRI 203 – Indirect Economic Impacts
Disclosure 203-1 Infrastructure Investments and...