Materiality assessments are formal exercises aimed at engaging stakeholders to find out how important specific environmental, social and governance issues are to them. The insights gained can then be used to guide strategy and help you tell a more meaningful sustainability story.
Each year at FCA, we put on our creative hats to explore what matters most to the Company, to our stakeholders and to the world in general. This analysis of “materiality” takes many forms: we conduct an online global survey; we benchmark automotive competitors and leading firms from other sectors; we evaluate input from key stakeholders with whom our employees work on a regular basis; we look at global trends and risks.
As a standard setter in sustainability reporting, GRI has a responsibility to engage in sustainability reporting and exemplify best practice in doing so. But, as a small non-profit organization, it faces constraints and challenges when reporting on its impacts. As part of our effort towards transparency, we’ll be sharing the process that we underwent when writing our sustainability report, the problems that we found along the way, and the solutions that we found. And it all begins with the materiality assessment.
Stakeholders and third-party reporting institutions now demand higher levels of detail and transparency from our organizations. Consequently, corporate sustainability disclosure and reporting has become more mainstream and ingrained within business operations, as well as more complex and time-intensive.
By Mario Abreu, Vice President Environment, Tetra Pak
Sustainability has always been at the heart of Tetra Pak’s corporate strategy, in fact it’s embedded in our brand promise – ‘Protect What’s Good’. I think we’re very influenced by our Swedish heritage, where nature and its resources play a central role.
Materiality is a hot topic in the corporate sustainability world, with CSR teams working hard to meaningfully convey the opportunities and successes of their initiatives to both internal and external stakeholders.