Topic 3 Benefits of Materiality Analysis
- It’s an opportunity to analyse business risks and opportunities, and to eventually re-adjust and improve their business strategy;
- It’s a chance to understand where organizations are creating or reducing value for society;
- It’s a way of making a business case to senior executives about why and how to report environmental – social – governance (ESG) data;
- It provides the knowledge and means on how to measure different performances (financial, social and environmental);
- It inherently means spotting trends and, therefore, anticipating emerging issues;
- Assessing the opportunities ahead allows for the development of new products or services and, therefore, staying ahead of the competition;
- It allows organizations to focus their efforts on allocating resources better;
- The analysis will allow companies to meet the sustainability reporting expectations of stakeholders;
- It increases the chances of better satisfying stakeholders’ demands;
- The results and data from the materiality assessment can be used to design content for CSR Reports or for communications with individual stakeholder groups like investors, partners, customers or employees.