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Materiality Assessments: Identifying What Matters Most
A materiality assessment is a crucial step in understanding the environmental, social, and governance (ESG) impacts of your business. At Towards Sustainability, we specialise in conducting ESG materiality assessments to help SMEs identify and prioritise sustainability topics that align with industry standards and stakeholder expectations.
Using a double materiality assessment approach, we ensure that both internal and external impacts are considered as well as financial risks and opportunities, creating a clear roadmap for sustainable action.
The Importance of a Double Materiality Assessment
Double materiality goes beyond traditional financial reporting. It assesses not only how sustainability issues impact your business but also how your business affects society and the environment. This broader perspective is essential for materiality assessment sustainability as it ensures compliance with regulatory frameworks and industry standards.
Through competitor benchmarking, industry media analysis, and stakeholder consultations, we help SMEs develop a list material topics tailored to their unique business landscape.
Prioritising Topics for Impactful Change
​​Through our ESG materiality assessment process, businesses gain a structured approach to prioritising key sustainability topics. We help business define thresholds to decide whether topics are material or not, and which topics to address. Our assessment results in a prioritised roadmap, guiding businesses towards meaningful ESG action and compliance.
Stakeholder Engagement for a Broader Lens
Stakeholder engagement is not a linear process and needs to revisited a number of times during an ESG audit to ensure the internal and external interests of the organisation are met. It is particularly relevant while collating the master list of potential topics, and again during the prioritisation stage. At Towards Sustainability we can conduct employee satisfaction surveys and management round-tables discussions to facilitate this process.
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What is a materiality assessment?A materiality assessment helps businesses identify the most important ESG topics that impact their operations and stakeholders.
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How does an ESG audit benefit my business?An ESG audit provides a structured evaluation of your sustainability performance and ensures compliance with industry standards and regulations.
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Why is ESG compliance important?Compliance with ESG regulations ensures that your business meets sustainability goals, attracts investors, and builds trust with stakeholders.
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How can Towards Sustainability help SMEs?We provide expert guidance, data-driven insights, and actionable roadmaps to help SMEs integrate ESG sustainability into their business practices.