Materiality Matrix
Updated GRI Standards: What Are the Implications for Materiality?
On October 5th, the Global Reporting Initiative (GRI) announced the biggest update of its standards since 2016. Beyond legal requirements, the GRI has been identified as one of the most comprehensive and internationally recognized sustainability standards setter for corporate reporting. Scheduled to be applicable by 2023, these changes require companies to increase their level of transparency and to dedicate further resources into non-financial reporting. One of the key updates is the introduction of sector standards, providing additional guidelines for comparability of companies from the same industries. Another important change in the GRI Universal Standards is the revised approach on how organization should conduct their materiality assessment. This article focuses on the proposed changes and what it means for companies which have selected the GRI Standards as their ESG reporting framework.
Activating Materiality to Accelerate ESG Performance
How can a materiality assessment be used to effectively accelerate a company’s sustainability performance? On September 23rd, Finch & Beak organized a webinar focused on materiality activation: transforming the materiality assessment from a reporting tool to the steppingstone for activation of company’s sustainability program. As an illustration, Rebecca Dunn, Head of Sustainability at Spectris presented how materiality accelerated the company’s sustainability strategy. Bas Nuijten, Senior Consultant and Team Leader at Finch & Beak, followed to explain how to integrate the double materiality principle and how to overcome challenges in materiality activation, and shared three tips for a successful activation of materiality.
Leveraging Double Materiality to Identify Emerging ESG Risks
If there is one thing that the COVID-19 pandemic has demonstrated, it is that society can face major challenges, virtually overnight. Companies need to have a sharp view on both short-term impacts and risks further on the horizon in order to steer their business and build resilience to deal with change. Capturing emerging risks in the ESG approach is therefore essential. Additionally, as of 2023, the EU Commission requires companies to apply the concept of “Double Materiality” as part of its new Corporate Sustainability Reporting Directive (CSRD). One of the main questions that therefore arises is: how do you ensure your materiality assessment covers these new perspectives on materiality?
Materiality activation: ownership, actorship and more
ESG Acceleration Webinar: Materiality Activation
This new webinar deals with the challenge of generating real change while implementing sustainability. Together with guest speaker Rebecca Dunn, Head of Sustainability at Spectris, we'll explore how to transform the materiality assessment from a reporting tool to an accelerator for the activation of your sustainability program.
Evolving Materialities for the Construction Sector
The construction sector is a continuously growing industry led by rising urbanization and global population increase: In 2050, about 68% of the world’s population will live in urban areas. These trends will increase the pressure for construction companies to improve the durability and efficiency of their infrastructures. Incorporating new digital technologies will be key to face these challenges in the future.
European Real Estate’s Underleveraged ESG Opportunities
As sustainability-labelled financing is expected to surge in 2021, companies are gearing up to get their fair share of it. Real estate, an industry that is typically capital-intensive, has a particularly great opportunity to tap into this source of financing. European real estate companies, however, appear to be lagging behind on ESG performance compared to their global peers, and may risk losing out.
ESG Essentials: Focused and Lean Reporting
Spurred by regulation and investor interest, more companies than ever are reporting on core ESG topics by publishing integrated or separate corporate sustainability reports. Simultaneously, more than $1tn in total assets under management in funds are now abiding by ESG principles, and legislation is catching up. While investors and policy makers are becoming stronger advocates for ESG disclosure, companies struggle to strike the balance between efforts and results. Focused and lean reporting combined with efficient responding to relevant external ESG rating requests can help to resolve this dilemma.
Using materiality to navigate to a sustainable future
ESG Acceleration Webinar: Forward-Looking Materiality
During this webinar, we'll explore how to apply the materiality assessment as a tool to capture (emerging) ESG risks and opportunities, as a driver for future strategy and risk mitigation, and how to align materiality with enterprise risk management. Special guest speaker is Suzanne Westlake, Head of Corporate Responsibility & Corporate Affairs at Ocado Group. Participation is free and capacity is limited, so sign up today to confirm your registration - if you haven't already.
Sign up for IMD’s Winning Sustainability Strategies online program
Designed to integrate ESG in your corporate strategy, the Winning Sustainability Strategies online program from IMD Business School in Lausanne teaches how to build a strong business case for sustainability and how to develop opportunities for innovation. Due to its practical approach, the program has proven to be highly appreciated by executive and senior management level participants. Moreover, it is suitable for larger groups of corporate participants to obtain a more thorough understanding of doing well by doing good.
Develop and accelerate your company's transformation to a more sustainable business model
