Introduction
In the evolving landscape of corporate sustainability, understanding the dual impacts of business activities on both the environment and society, as well as their financial implications, is paramount. This comprehensive evaluation, known as a Double Materiality Assessment, is essential for businesses aiming to comply with the European Corporate Sustainability Reporting Directive (CSRD). Greenly's platform simplifies this complex process, guiding users through each step to ensure accurate and efficient reporting. This article will walk you through the process of completing a Double Materiality Assessment using Greenly’s platform, highlighting key features and steps.
1. The Platform’s Landing Page
When you first log into Greenly’s platform, you will be greeted by the landing page. This is your starting point for initiating the Double Materiality Assessment.
Image: Landing Page
1.1. Selecting Your Company’s Sector
The first actionable step is selecting your company’s sector. For instance, if your company operates within the accommodation industry, you would choose the relevant option from the sector list.
Image: Sector Selection. Purple dots represent where to click.
1.2. Accessing Materiality Pre-Assessment Results
Once the sector is selected, the platform provides access to your Materiality Pre-Assessment results. This preliminary analysis highlights potential material topics relevant to your industry. Green cells indicate topics likely material for your company, while white cells suggest non-material topics.
Image: Pre-Assessment Results Screen
Important Note: It is crucial to understand that these pre-assessment results are indicative and not final. You will refine these results by completing detailed surveys for each topic.
2. The ESRS Surveys
To proceed with a more accurate analysis, click on one of the Environmental, Social, and Governance (ESG) Reporting Standards (ESRS) topics. For example, select the ESRS E1 - Climate Change Survey to begin.
Image: ESRS Bubble Selection. Purple dots represent where to click.
2.1. Survey Landing Page
Upon entering the survey, you will encounter an initial materiality check question. These YES or NO questions help determine if the ESRS topic is relevant to your company. For topics like climate change, which generally apply to most sectors, you would select “YES.”
Image: Materiality Check. Purple dots represent where to click.
2.2. Negative Impacts Assessment
If you answer "YES" on the materiality check, you will be redirected to questions about the potential negative impacts of your activities. Here, each "YES" response requires detailed information about the scale, scope, remediability, and likelihood of the impact. For more information on our impact materiality assessment methodology, refer to our dedicated article on this topic.
Image: Scale, scope and remediability assessment.
2.3. Expected Stakeholder Reactions
For impacts deemed material, additional questions about stakeholder reactions are presented. For more information on our financial materiality assessment methodology, refer to our dedicated article on this topic.
Image: Expected Stakeholder Relationships.
2.4. Positive Impacts Assessment
After addressing negative impacts, the survey shifts focus to positive impacts. These are assessed similarly but only consider scale and scope. For more information on our impact materiality assessment methodology, refer to our dedicated article on this topic.
Image: Positive Impacts (Scale/Scope).
2.5. Expected Stakeholder Reactions
Material positive impacts also prompt questions regarding expected stakeholder reactions. For more information on our financial materiality assessment methodology, refer to our dedicated article on this topic.
Image: Expected Stakeholder Reactions.
2.6. Assessing Dependencies
Following the positive impacts section, the dependencies survey examines how your company relies on various environmental and social resources. Changes in these resources can pose risks or opportunities for your business. For more information on our financial materiality assessment methodology, refer to our dedicated article on this topic.
Image: Dependencies Assessment.
2.7. Optional: Providing Additional Comments
At any point, you can use the comment boxes provided to elaborate on your answers or seek clarification from Greenly’s experts.
Image: Comment Box Example Screenshot
2.8. Finishing and Saving your Results
Once all questions are answered, click “Finish” to proceed to the Global View, where you can track your progress and view a summary of your assessment results.
Image: Finish Button Screenshot
Image: Global View Page Screenshot
3. Materiality Results
3.1. Materiality Matrix
The final step involves viewing your results in the Materiality Matrix Tab. Here, you can see which topics are material from both impact and financial perspectives.
Image: Materiality Matrix
3.2. Materiality Table
By scrolling down on the same page, you will also find the materiality status of all evaluated sub-topics.
Image: Sub-Topics Results Table.
Note: Accessing Additional Resources
If you need further guidance, the global view page offers a demo link (named "What should I do?") under the Pre-Assessment Results title.
Conclusion
Completing a Double Materiality Assessment with Greenly’s platform is a structured and user-friendly process designed to ensure thorough and compliant sustainability reporting. By following the steps outlined above, you can effectively identify and report on the sustainability matters most relevant to your company. Greenly is here to support you through each step of your Double Materiality Assessment, ensuring your sustainability reporting is accurate, compliant, and insightful.