Climate first…or last?
A new study on sustainability reporting across Asia-Pacific finds that in many cases, companies disclose long lists of ESG risks without truly understanding which ones are strategic, financially material or reflective of stakeholder concerns
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AS SUSTAINABILITY disclosures edge towards becoming mandatory in many jurisdictions rather than an optional public relations tool, a critical question arises: How do companies decide what really matters?
The answer lies in a term central to every sustainability report yet often poorly understood: “materiality assessment”.
Materiality assessments are intended to help companies identify the most significant sustainability-related risks and opportunities (SROs) – those that can affect business performance or impact people and the planet. If done well, a materiality assessment should be the backbone of a sustainability strategy. Done poorly, it can mask risks, mislead stakeholders and derail corporate efforts to contribute meaningfully to the climate transition.
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