Simple and affordable materiality assessment software
Socialsuite brings you end-to-end materiality software with expert support to guide your progress, save money, and meet compliance requirements.
Book a demo
What is materiality?
Materiality in sustainability reporting refers to the process of identifying and assessing the environmental, social, and governance (ESG) issues that are the most significant for an organization and its stakeholders.
These sustainability issues, often referred to as “material issues,” capture the organization’s most significant impacts on the economy, environment, and people; as well as the most significant risks and opportunities that have the potential to influence the organization’s financial stability and operational efficiency.
Impact
Materiality
Impact materiality relates to the organization’s impacts on the environment and society. This perspective on materiality takes an inside-out view to identify the sustainability matters that have material actual or potential, positive or negative impacts on people or the environment. Impacts include those caused by the company and its upstream and downstream value chain.
Financial
Materiality
Financial materiality relates to the organization's sustainability risks and opportunities. This perspective on materiality takes an outside-in view to identify the sustainability matters which may trigger material financial effects on the company. This is the case when they may generate risks or opportunities that are likely to have a material influence on the company's financial performance, such as cash flows or cost of capital.
Single
Materiality
Single materiality is a one-sided assessment. It involves focusing on only a single perspective. This means identifying the inside-out (impact) material sustainability matters OR identifying the outside-in (financial) material sustainability matters - but not both at the same time.
A single materiality assessment could refer to either of the materiality perspectives.
Double
Materiality
Double materiality refers to assessing both materiality perspectives simultaneously. There are important interplays between impact and financial materiality, this necessitates assessing both perspectives at the same time.
Keep in mind that combining two separate single materiality assessments does not make a double materiality assessment.
What is double materiality?
Double materiality considers a company’s outward impacts on the environment and society, as well as the financial effects of sustainability risks and opportunities on the company.
A double materiality assessment always requires conducting the impact and financial materiality assessments at the same time. This combined approach includes the assessment of impacts, risks, and opportunities (often referred to as IROs).
Our Materiality Process
Scope
Define
Identify
Engage
Analyze
Why are materiality
assessments important?
Materiality Software Features
Double Materiality
Emphasize the financial aspect of sustainability with single materiality or consider external impacts with the use of the double materiality feature.
Expert Materiality Consulting
Leverage Socialsuite's advisory services to help run one-on-one interviews, workshops, and focus groups to further assess materiality.
Peer Benchmark Analysis
Analyze where your competitors and peers are on their sustainability and materiality journey so you don't fall behind the curve.
.png)
Customized Stakeholder Management
Group, weigh, and track unlimited stakeholders. Use our automated survey-sending or personally invite stakeholders with a unique sign-up link.
Advanced Topic Selection
Pre-defined topic lists developed from peer, industry, and competitive data and standardized frameworks (SASB, GRI, CSRD). Include extra customized topics or open-ended questions for more insight.
Real-Time Automated Analysis
Analyze survey data through aggregated standardized scoring. Visualize results for impact, risk, and opportunity in a scatter-plot matrix.
Secure Cloud Environment
Enterprise-level cloud security to safely collect and store your ESG data in one centralized platform.
.png)
UN SDG Alignment
Material topics are automatically aligned with the relevant UN Sustainable Development Goals (SDGs). Prioritize the SDGs your organization impacts most.
Instant Materiality Report
Consolidated summary highlighting the methodology, materiality matrix, analysis, and UN Sustainable Development Goal alignment.
.png)
Materiality Packages
All Packages Include
Materiality topic selection & validation
Stakeholder selection & survey execution
Materiality Matrix
Alignment to UN Sustainable Development Goals
Silver
Access to the materiality platform
Up to 10 users
1 hour of quarterly coaching
Auto-generated 3 page report
Gold
Access to the materiality platform
Up to 25 users
1 hour of bi-monthly coaching
Dedicated materiality consultant
Up to 5 stakeholder engagement interviews
1-hour materiality workshop
3 page custom analysis final report
Platinum
Access to the materiality platform
Unlimited users
1 hour of monthly coaching
Dedicated materiality consultant
Up to 10 stakeholder engagement interviews
2-hour materiality workshop
Fully customized 5-10 page final report
Latest resources
Stay up-to-date on the latest industry news, customer stories, and learn about how you can embed sustainability in your business.
.png)
Sustainability Trends to Watch in 2024
.png)
SEC Climate Rule: Materiality - Great in Principle, Harder to Apply in Practice
ESG and Sustainability Single and Double Materiality Software
.png)
California Climate Accountability Package
.png)
ESG for Private Companies
.png)
Start ESG with Materiality
Ready to streamline your materiality assessment?
Whether you're a public, private, or non-profit organization, Socialsuite has the right materiality solution for you.