According to Global Reporting Initiative (GRI), "Materiality for sustainability reporting is not limited only to those sustainability topics that have a significant financial impact on the organization. Determining materiality for a sustainability report also includes considering economic, environmental, and social impacts that cross a threshold in affecting the ability to meet the needs of the present without compromising the needs of future generations. These material topics will often have a significant financial impact in the near-term or long-term on an organization. They will therefore also be relevant for stakeholders who focus strictly on the financial condition of an organization.
What is considered ‘material’?
According to GRI, “The threshold for defining material topics to report should be set to identify those opportunities and risks which are most important to stakeholders, the economy, environment, and society, or the reporting organization, and therefore merit particular focus in a sustainability report."
We facilitate stakeholder engagements with clients’ internal and external stakeholders to identify material sustainability aspects. The services include engagement, examination and evaluation of stakeholders’ perspective of material aspects and indicators, which forms the basis of the corporate sustainability strategies.