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Tesla's Research 4

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Tesla's Research 4. What do YOU think are some of the material (most important or significant) social effects or impacts of its business? Think about key human capital resources needed, and how the acts of producing, distributing, selling, and using the company’s products or services impact different social groups. Automobiles account for more than one-third of the society's overall oil consumption. On the one hand, oil is a non-renewable resource. On the other hand, the environmental pollution caused by this process has further undermined the sustainable development of mankind. Tesla is also advancing the development of the new energy industry, making human society more and more environmentally friendly, and making green travel a new fashion. , Tesla is working hard to build an ecological closed loop of sustainable energy, so that human society can get rid of the dependence on fossil energy and usher in a pollution-free environment. 5. Determine whether the company you chose has a sustainability report or just uses the company's website to report information regarding the company's sustainability goals and initiatives. Using the information you find, answer the following questions. 6. Environmental performance: List a few of the company's goals and/or initiatives the company is undertaking to improve its environmental impact. Although now owning electric cars, reduce the use of oil. However, power generation in many places is still natural gas and coal-fired power generation. EV customers can accelerate the process of increasing their renewable energy mix by installing solar panels or a Solar Roof and an energy storage solution, such as Powerwall, in their homes.Our goal is to strategically pair solar and battery storage at as many Tesla Supercharger stations as is feasible. Furthermore, battery recycling has the potential to further reduce emissions as components of a battery pack can be captured and reused, displacing much of the need for raw material mining and the associated emission 6b. List a few environmental metrics (KPIs) the company is using to benchmark and evaluate its performance. (For example, % of waste to landfill.) 7. Social Performance: List a few of the company's goals and/or initiatives the company is undertaking to improve its social impact. Tesla’s corporate social responsibility efforts are satisfactory in addressing the interests of most of its stakeholders. However, the company can improve its CSR programs to improve its performance in supporting communities and investors/shareholders. For example, to improve CSR effectiveness in satisfying communities, Tesla, Inc. can implement new community development programs. Business expansion adds to the fulfillment of Tesla Inc.’s corporate responsibilities. The company adjusts its strategies to fulfill and maintain corporate citizenship goals. For example, strategies are developed according to current and emerging changes, such as the trends shown in the PESTEL/PESTLE analysis of Tesla Inc. The company manages these changes through programs and initiatives for sustainable operations and products, green technologies, and other ecological approaches. 7b. List a few social metrics (KPIs) the company is using to benchmark and evaluate its social performance. (For example, $ donated to X) 8. How could these environmental and social goals and initiatives ultimately help to improve the company's profitability? Companies use this approach to corporate responsibility to benefit stakeholders, while also improving the company's corporate and brand image. Maintain an appropriate corporate social responsibility strategy to ensure that the negative impact on stakeholders is minimized and maximized benefits for stakeholders. Tesla has a strong international brand, and it has plenty of opportunities to show the world what the corporate social responsibility efforts of large multinational companies can do to meet the interests of stakeholders and contribute to the global society. So a better market can increase the company's profitability. GRI = Global Reporting Initiative As you read in the textbook, the GRI sustainability reporting framework is organized around the triple bottom line: people, planet, and profit (social, environmental, and economic). Within each of these three broad areas are specific topical standards, as pictured in Exhibit 15-4. If we were to choose one of the listed standards, and read more about it, we would find "topic-specific disclosures" which tell management what they should be reporting (i.e., KPIs) IF they, and their stakeholders, have identified the topic as material to the company. The standards and disclosures can be downloaded free-of-charge at globalreporting.org. I've downloaded and posted them on Canvas in case you are interested in seeing them. They are very detailed, so you are not required to look at them as part of this project. 1. Using the company you chose on the last worksheet, which of the standards in Exhibit 15-4 most closely align with the topics that you felt were most material to the company on the last worksheet? (Just list the relevant Standard numbers in the Exhibit to the right.) I didn't ask you about the economic impact on the last worksheet, but also include here any economic standard you think might be material to the company. a. Economic b. Environmental c. Social