Every company has an impact. Stakeholders expect organizations to be accountable for the impact they have on the environment and society, and to improve it over time. In this way, trust grows, and we end up with sustainable companies and resilient societies.

To understand the impact of any company and identify the most important ones, we need to view it through the lens of materiality. Materiality helps companies focus on increasing the areas where they have the greatest positive impact and minimize negative impact. Therefore, materiality is central to proper sustainability/ESG reporting, but recent developments have led to differing perspectives on how materiality should be approached. One of the most difficult issues faced by those who assess and report sustainability performance is the clear evaluation of what materiality means and how it is calculated.

Materiality is everywhere in the discourse on sustainability and ESG. And it drives us all crazy with new, complicated, and ever-conflicting approaches: double materiality, impact materiality, dynamic materiality, compounded materiality, and so on.

During the webinar hosted by Elaine Cohen, Manager of Beyond Business, I learned how to navigate through this avalanche of new concepts and focus on what truly matters, for whom, and what can be done concretely.

By attending this webinar, you will learn about:

  • Understanding Materiality in Sustainability: Materiality is central to sustainability and ESG (Environmental, Social, Governance) reporting. The term has expanded in meaning, with definitions such as financial materiality, impact materiality, and double materiality, each focusing on different aspects of a company's influence and value;

  • The Evolution of Materiality Concepts: Financial materiality has traditionally focused on issues affecting a company's financial health. Impact materiality examines how a company's activities affect society and the environment, while double materiality integrates both financial and impact considerations, relevant for comprehensive sustainability reporting;

  • Challenges with Materiality: The presentation discusses the complexity and confusion surrounding materiality due to varying definitions, conflicting standards, and lack of consistent methodologies, which can make the process challenging for organizations aiming for transparent reporting;

  • Simplifying Materiality for Organizations: Tips for clarifying and assessing materiality include focusing on topics that significantly impact economic, environmental, and social factors. The process involves analyzing trends, consulting with stakeholders, and understanding the unique context of the organization;

  • Practical Steps for Materiality Assessment: Using frameworks like GRI (Global Reporting Initiative) and ESRS (European Sustainability Reporting Standards), the presentation outlines a step-by-step approach to determining what matters most to a company and its stakeholders, aiming for standardized methods and process assurance in the future;

About the guest speaker

Elaine Cohen is an expert in strategy and sustainability reporting. As the founder and manager of Beyond Business (www.b-yond.biz) since 2005, she has advised over 150 clients on sustainability/ESG/CSR reporting and other types of reporting. Elaine is also the author of three books on sustainable practices and has contributed to several academic articles and book chapters on sustainability topics. Elaine has been certified as GCB.D at ESG Competent Boards since 2021.

Devino membru

SustainAbility School este un program de educație dedicat exclusiv angajaților din organizațiile membre ale Ambasadei Sustenabilității în România prin programul Coaliția România Sustenabilă.

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