Socialsuite Unveils Innovative Technology Simplifying Materiality Assessments for Companies and Sustainability Consultants

AUSTIN, Texas & MELBOURNE, Australia, October 26, 2023 (Newswire.com) - Socialsuite ESG, a leading provider of sustainability and ESG (Environmental, Social, and Governance) solutions, announces the launch of a groundbreaking new feature designed to streamline the process of conducting materiality assessments for companies and ESG/Sustainability consultants.

Materiality assessments play a pivotal role in an organization's ESG journey, enabling them to identify and prioritize the most critical ESG issues through engagement with internal and external stakeholders. However, the traditional methods of conducting materiality assessments have often been complex, time-intensive, expensive, and prone to inconsistencies. Socialsuite ESG's technology aims to address these challenges and offer a comprehensive yet agile solution for materiality assessments.

This innovative technology seamlessly integrates with Socialsuite’s ESG reporting platform, empowering organizations with simplifying setup, collection, and reporting of sustainability data. The following special features that make the materiality assessment best-in-class include:

• Single or Double materiality
  Consider the relevance of a sustainability matter from either a single (only business risks and opportunities) or double perspective (add impact on people and planet).
• Sustainability topics
  Select and customize material sustainability topics from our extensive database; informed by the latest ESG matters identified by SASB, GRI, and many others.
• Industry-specific
  Select an industry-specific topic list to save time and effort. Tweak and customize your industry list to your organizational sustainability footprint.
• Manage stakeholders
  Group, weigh, and track your stakeholders. Add unlimited respondents to broaden your assessment across internal and external stakeholders.
• Automated surveying
  Invite your stakeholders via automated email and track their progress. Or use your own email system to personally invite your stakeholders with a unique sign-up link. 
• Real-time results analysis
  Watch real-time survey results populate a materiality insights table. Analyze individual responses and drill down into each of the respondent's comments. 
• UN SDG alignment
  Material topics are automatically aligned with the relevant United Nations Sustainable Development Goals (SDGs). 
• Materiality matrix and report
  Visualize material topics in a scatter-plot-based materiality matrix and use the report builder to summarize and export your materiality assessment methodology, process, topics, and matrix in report form.

Brad Gurrie, CEO of Socialsuite, emphasizes the significance of this new feature, stating, "We are excited to introduce a solution that directly addresses our customers' needs. Many have faced challenges with manual materiality assessments, resulting in inconsistent data and significant time investments. Our technology is a game-changer."

Dr. Tim Siegenbeek van Heukelom, Socialsuite’s Chief Impact Officer, underscores the importance of materiality assessments in the ESG journey, remarking, "The materiality assessment serves as the cornerstone and starting point of any ESG journey. This automated process empowers companies of all sizes and complexities to swiftly comprehend which sustainability topics they should focus on. We offer both single and double materiality assessments that align with the most common methodologies used globally."

With this innovative technology, Socialsuite ESG reaffirms its commitment to providing cutting-edge solutions that empower organizations and consultants to navigate the evolving ESG landscape efficiently and responsibly.

For more information about Socialsuite’s ESG new materiality assessment feature, please visit https://www.socialsuitehq.com/materiality-assessment.

Source: Socialsuite