With MAT, companies will be able to identify and assess potential Environmental, Social and Governance (ESG) issues. As a result, they will mitigate business risks, improve stakeholder engagement, and ensure the integration of sustainability into their business strategy. The next opportunity to discuss MAT is at the Brussels SDG Summit Roundtables Session on 7 May.
Increasing evidence shows that material issues have significant implications for a company’s risks and opportunities, making them critical elements for decision making and strategy setting. While there is uncertainty in predicting future risks and opportunities, the materiality analysis process lets you make predictions in the most robust way possible. Ultimately it is about ensuring your company is as resilient as possible and ready to tackle the future.
Benefits of the tool:
Materiality assessment has several benefits for the business. A comprehensive materiality analysis means you can:
- Inform your business strategy: align sustainability with the overall strategy;
- Enhance stakeholder engagement: build trust, relationships and create value in the long-term;
- Justify resource allocation: prioritize company resources so you can focus time and money on the most important topics, and on collecting relevant data;
- Mitigate business risks and opportunities.
What’s unique about CSR Europe’s approach to materiality assessment? The Stakeholder Dialogue
Engaging in a long-term dialogue with stakeholders is imperative to ensure a robust materiality assessment process. The resulting feedbacks allow companies to identify their environmental, social and corporate governance (ESG) impacts. Furthermore, the increased understanding of stakeholder needs will yield rich information that can inform the company’ strategic thinking.
But what does ‘stakeholder dialogue’ really mean, and what is the best approach to engage stakeholders in a materiality assessment?
- Face-to-face Approach: To ensure you have a comprehensive view of your company’s material issues, it’s important to listen to as many different voices as you can – not just through surveys, but also through a physical dialogue and long-term engagement approach. CSR Europe’s experience shows that a face-to-face dialogue, bringing all stakeholders to the table, is crucial. Not only to enhance the quality and depth of feedback but also to build trust and relationships with key stakeholders that have an impact on your business.
- Proven Methodology: CSR Europe designs and executes – from risk analysis and benchmarking to integrating the findings into your business strategy – a materiality assessment that is tailored to the company's core strategic needs. We have a proven methodology that delivers reliable results with a direct impact on companies' strategic thinking and decision making.
- The Power of the Network: With a large network of 10,000+ companies, 41 National Partner Organisations, Regional Partners, and close connection with the European Commission, national governments, NGOs and other stakeholders, CSR Europe has the capacity to reach out to experts and organisations relevant for your business.
Interested to learn more about materiality and stakeholder dialogues? Join us for CSR Europe’s upcoming high-level events:
- May 7, 2019, Egmont Palace, Brussels SDG Summit ‘Lead and Engage’
SDG Roundtable (Afternoon session): ‘Materiality and Supply Chain Sustainability’ Register here.
- June 4, 2019, EIB, Brussels ‘Valuing Corporate Sustainability Performance: Meeting the needs of investors and civil society’– in collaboration with European Investment Bank (EIB)
Workshop (Afternoon session): ‘The materiality principle: How can it guide companies in stakeholder engagement, decision-making and reporting?’ Registration link available soon – stay tuned!
For more information please contact Soni Kanabar, Project Manager - Sustainability Management & Reporting: firstname.lastname@example.org