How do you know you have the right ESG Strategy?
Use data and intelligence to identify material risks and opportunities –
Materiality Assessment 2.0
Climate change, human rights and corporate governance are growing in urgency. Progressive boardrooms must develop strategies to address complex sustainability challenges. The critical question: Where do we begin?
Applying industry benchmark data and strategic frameworks such as the UN Sustainable Development Goals (SDG), GRI, SASB and UNEP, the Future Planet Materiality Assessment (FPMA) shows you how to integrate sustainability into your business strategy. Delivering single or double materiality assessments, the FPMA helps you align with global reporting standards and prepare for TCFD (Task Force on Climate-Related Financial Disclosures) and CSRD (Corporate Sustainability Reporting Directive).
Materiality Assessment 2.0 – the quickest, most effective way to create or update your ESG Strategy.
Do you know the priority sustainability topics in your industry and for your competitors? What’s the benchmark? You can reasonably expect that you will be impacted by the materiality topics that impact other companies in your sector.
The FPMA Sector Preview is based on the analysis of more than 20,000 data points. That analysis includes companies that look like you, ESG frameworks, industry benchmarks and active market monitoring. We call it 3-Dimensional Sector Preview. It knows (probably) the material sustainability topics that you should care about.
It is important that company leadership has an intelligent framework to agree on the critical sustainability topics, and related risks and opportunities for the business.
Each materiality topic can have a positive and/or negative impact on your company, a material Risk or a material Opportunity. The actual or potential impact and the likelihood of their occurrence, should inform the ESG strategy and business direction. Using a digital platform provides consistent structure for successive / comparative reporting periods to maintain compliance and build strategic insights.
Do you know which materiality topics are most important to your stakeholders? How do you know that you have captured their perspective? Stakeholders are usually groups of suppliers, community representatives, shareholders, customers or employees, who are impacted by or can affect the company’s activities. Stakeholder Engagement must integrate fully with the Sector Preview and Company Context phases of the process to faithfully and accurately reflect their opinions in the materiality assessment, mapped to the sector and the business perspective.
Priority of materiality topics should be the real-time result of combining two perspectives, business and stakeholders. You need to be able to dynamically represent sustainability priorities for each party in an insight-driven materiality map. Providing a visual insightful mechanism to collaborate on the different perspectives is critical for your company to understand, review, and discuss. That facilitates a shared vision of priorities and can guide forward-looking initiatives and strategic decisions.
Supporting Materiality Assessment Records
Every materiality assessment should be documented and recorded in accordance with ESG standards. The Future Planet Materiality Assessment software guides you through the requisite legislative standards, integrated directly into the materiality assessment process and recorded for future comparisons. Keeping track of the process is not only good process governance, it is also an emerging regulatory requirement.
Automated Materiality Assessment 2.0 Report
This is the first step in your journey completed. The Future Planet Materiality Assessment software automagically generates your Materiality Assessment 2.0 report for you. The is the foundation of your ESG strategy.
The FPMA is the only insight-driven Materiality Assessment 2.0 solution available today. It is architected around ESG standards and manages the process for you, year on year. The frameworks and benchmark data are frequently updated for your industry so you always know what is going on.
And because the FPMA is part of our Sustainability Lifecycle Management Platform (see below), you can easily integrate your sustainability activities into your business activities when you are ready.
See how Future Planet can help your business today.