A professional materiality assessment separates companies with a weak sustainability approach from those that are logical, planned and address important issues. Materiality assessments are pivotal to the success of an organisation’s sustainability approach. They allow social and environmental issues that present both opportunities and risk for you and stakeholders to be prioritised.
What is Materiality?
Materiality is the process of assessing and prioritising the importance of non-financial issues (environmental and social) in the context of overall business priorities, management and performance.
Recently, we have begun integrating sustainable materiality aspects into our financial and business framework. This is fundamental part of planning an integrated report.
A materiality assessment is the foundation of sustainability comprising target setting, performance management and disclosure. It is central to both sustainability management and reporting.
Material aspects are likely to differ between organisations depending on factors such as the business model, strategy, stakeholders, industry groups and business operations. We help companies to conduct a detailed materiality assessment to determine criteria that is significant and substantive to the company. The materiality study covers both internal sources and external sources such as local and international sustainability standards. These materiality results are useful for companies to understand the severity and level of importance of each criterion to stakeholders and the company.