MATERIALITY SOFTWARE

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.

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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

Determine your materiality approach, requirements, and objectives.

Define

Define your list of potential material sustainability topics with the executive team and peer benchmarking.

Identify

Assess your value chain to identify, group, and select key stakeholders. Stakeholders include employees, customers, board members, etc.

Engage

Engage with stakeholders via surveys and interviews to gather quantitative and qualitative data and insights.

Analyze

Analyze the results, conduct internal validation, and select final material topics.

Why are materiality
assessments important?

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Stakeholders provide a wide range of perspectives
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Provides qualitative and quantitative data
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Enables data-driven decision making
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Identifies a company's most relevant sustainability topics
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Creates a sustainability roadmap for executives
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Builds trust and credibility
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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.

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.

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.

Materiality Packages

All Packages Include


Materiality topic selection & validation

Stakeholder selection & survey execution

Materiality Matrix

Alignment to UN Sustainable Development Goals

Silver

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Access to the materiality platform

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Up to 10 users

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1 hour of quarterly coaching

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Auto-generated 3 page report

Gold

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Access to the materiality platform

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Up to 25 users

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1 hour of bi-monthly coaching

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Dedicated materiality consultant

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Up to 5 stakeholder engagement interviews

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1-hour materiality workshop

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3 page custom analysis final report

Platinum

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Access to the materiality platform

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Unlimited users

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1 hour of monthly coaching

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Dedicated materiality consultant

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Up to 10 stakeholder engagement interviews

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2-hour materiality workshop

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Fully customized 5-10 page final report

What our clients say

One of our core values is that our customers always come first. We prioritize collaboration and work diligently to make your feedback a reality.

"I love it. It's great to see.
It's huge that you do double materiality..."
-ESG Senior Manager, private accounting & assurance firm
"Socialsuite's materiality software
was easy to use..."
-Head of IR & ESG, publicly traded pharmaceutical company
"...I think the materiality assessment is great.
I think the idea behind it is really smart."
-Director of ESG, publicly traded construction company

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Ready to streamline your materiality assessment?

Whether you're a public, private, or non-profit organization, Socialsuite has the right materiality solution for you.