How to get more mileage from your double materiality assessments

1    Define material issues first 

To move beyond CSRD-compliant ESG reporting, consider potential actionability when identifying material issues in the research phase.  

2    Identify focus areas  

To help envision how to take actions that improve the sustainability impact, zone in on the following: 

Transformative priorities 

• Material topics that are essential to build long-term value and maintain a competitive advantage. 
• Sustainability enablers
  Material topics that put you in the right position to address the core focus areas.
  Continuous improvement areas
  Material topics that should be actively monitored and managed to meet compliance standards and mitigate risk. 

3    Keep up with evolving materiality issues  

As the business develops, practical sustainability concerns may shift, so materiality issues will change over time. This means materiality is an ongoing process that requires constant attention, requiring updates to implementation plans, materiality assessments, strategies, and reporting – and, of course, ongoing dialogue with all stakeholders. 

 Key takeaway 

Transformation is impossible when remaining silent, so it’s critical to walk the talk and talk the walk while continuously communicating with stakeholders. 

 Further reading 

Don’t be a mixed-up chameleon! How to prioritize your ESG issues 

Materiality: From reporting requirement to strategic insight 

Under attack from multiple angles, does ESG’s evolution need a helping hand? 

How regulation is shaping the future of ESG ratings and sustainable investments 

Think your company’s too small to worry about ESG reporting? 

Let’s be clear: ESG is not ‘woke’ and it’s different from sustainability