M&M’s : Double Materiality Matrices

M&M’s : Double Materiality Matrices

M&M’s : Double Materiality Matrices

Our generation of companies have a huge challenge to deal with. Enormous changes in our environment, more requirements coming from the government and more critical thinking customers that expect (and deserve!) ethical products and services. Sustainability and corporate responsibility are no longer buzzwords, but rather, core components of the modern business environment. Companies are expected to take into account environmental, social, and governance (ESG) considerations when making decisions and developing strategies. But how do you get started? And how do you make sure it is not just a siloed side-project?

One of the most powerful steps companies can take to ensure they are living up to ESG standards is the double materiality matrix, bringing together an inside-out view with an outside-in view, taking into account the environmental implications of the choices you make ànd the financial implications of those choices.

Before starting a sustainability journey, it is important to be aware of a company’s current impact on the environment and society. This, we do by mapping a materiality matrix.

With this we get a clear view of what potential actions have a shared value: these are the actions they need to invest in as they have the greatest opportunity for collective impact.

The double materiality matrix is not just a way to assess a company's current ESG-status, but also a powerful starting point for developing strategies and plans to improve the company's ESG performance. By providing a comprehensive and detailed assessment, the double materiality matrix helps companies focus their efforts on the most important ESG topics and identify areas where they can make improvements. In addition, it is the first step in building the 1-Page Sustainability Plan.

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