Some people complain that the GRI reporting principles are too long and complex. But, in reality, companies only need to report on those issues that are “material”. Explain what materiality means. Then list what you believe the five most material environmental and social aspects are that Wal-mart should report on, and defend your answer.
The principle of materiality in GRI reporting suggests that companies should report on topics (environmental and social aspects) that are the most relevant to the sector they operate in, and to the stakeholders they have to interact with.
The five most material environmental and social aspects are that Walmart should report on are:
1. Energy consumption efforts and their results within the organization. This aspect directly highlights the organization’s efforts towards energy conservation as the retail giants like Walmart consume a massive amount of energy to run their retail stores, and any efforts towards conserving energy will have a substantial impact on the environment.
2. The percentage and total volume of water recycled and reused by them. Retail stores, just like energy also require a lot of water resources to run effectively, and Wal-Mart’s efforts towards water conservation and recycling will have an extensive impact on the environment and society nearby.
3. The actual and potential significant negative environmental impacts in Wal-Mart’s supply chain and actions taken. Reporting on the environmental impacts of Wal-Mart’s supply chain partners will ensure that they are preventing natural resources, supporting workforce safety and dignity across the supply chain, and sticking to compliances.
4. The types and rates of occupational diseases, injuries, absenteeism, and other occupational fatalities, classified by gender and region. This aspect will highlight Wal-Mart’s efforts towards maintaining safety, health and compliance in its operations.
5. The composition of governance bodies and the workforce breakdown into categories according to employee gender, age group, and minority status. This aspect will highlight the company’s efforts towards economic mobility and diversity inclusion.
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