Materiality Assessment
A process that offers you the opportunity to evaluate your ESG-related issues that are critical for your ability to long-term value creation.
A materiality assessment will help you identify ESG-related issues, build awareness for risk mitigation, and improve resource allocation. Engaging with your key stakeholders is another important aspect of the process.
How this service will help you to achieve your ESG goals:
Identify the areas of material focus that are relevant to your company and industry.
Engage with key stakeholders, and learn about their concerns and expectations.
Gain insights into your materiality landscape and how it aligns with your business strategy.
Set goals and objectives based on the priorities identified through the process.
Allocate resources to achieve your goals and objectives.
Materiality Assessments A strategic approach to sustainability.
The process, key results, and benefits
Materiality assessments require preparation since they are specific to your corporation. Looking at material topics that are typical for an industry is a good starting point. But there is more than just that. Material issues may also stem from your location and other factors that are unique to your corporation. Taking all these factors into account is part of the preparation process.
The next step is identifying and engaging with your stakeholders. What is the perspective and perception of your stakeholders on ESG topics? What do they consider as relevant or significant, and how important are the topics to them? One way to represent the results is as a matrix. You can use this as an opportunity to discuss the results with the stakeholders involved in the process.
All this opens up new perspectives on ESG-related issues, but also opportunities. It is about identifying the core issues, defining goals and objectives, and embedding them in a long-term strategy or further developing existing approaches.
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Key Results
The key result of a materiality assessment is a clear representation of ESG-related issues: Prioritized according to their importance to your company's ability to create long-term value and prioritized by the perceived importance of your stakeholders.
Key Benefits
A key benefit is to gain insights into hidden ESG-related issues and opportunities. Furthermore, you can derive actionable goals and objectives from the process to develop, adjust, or update your business strategy.