Using Double Materiality Calculator

European Sustainability Reporting Standards (ESRS) requires a two factor materiality assessment, where you gather stakeholder input on both financial and impact materiality.

Task 1: Send out double materiality assessments

  1. In the Data Gathering Program record, go to the Conduct Materiality Assessment tab > Materiality Assessment Campaigns section, and click Add New.

  2. Enter a campaign name, and in the Standard/Framework field, select ESRS.

  3. (Optional) If you want to pre-populate assessments with the topics, sub-topics, or sub-sub-topics that you want your respondents to assess, in the ESRS Topic Selection section, make your selections. If you do not select anything in this section, blank assessments will be generated, and respondents can select the topic, sub-topic, or sub-sub-topic for themselves from dropdown lists within the assessment.

  4. In the Internal Stakeholders and External Stakeholders fields, select the users to whom you want to send assessments. External Stakeholders only receive Impact Materiality assessments, but Internal Stakeholders receive an assessment that contains both the Impact and Financial Materiality sections.

  5. Click Launch Campaign.

  6. The "ESG - Material Topics DF3b - Generate Double Materiality Calculator Assessments" data feed runs and generates Double Materiality Calculator records for any applicable contacts in the Internal Stakeholder and External Stakeholder fields.

  7. (Optional) Send your records to Engage. You can publish records individually or in bulk, using the "ESG - Material Topics DF4b - Double Materiality Calculator: Bulk Publish" data feed.

  8. As stakeholders complete their assessments, results are fed into the Material Topic Repository application. A record for each topic is created, and all of the individual assessments for that topic are linked.

    Note: At the end of each assessment in Engage, stakeholders have the option to create an additional assessment if they want to provide input on additional topics.

Task 2: Review results

From the Double Materiality Calculator Overview dashboard, you can view the heat map and drill into the Material Topic Repository records for each section.

Each Material Topic Repository record has an overall Impact Materiality and Financial Materiality rating, based on the ratings from the associated Double Materiality Calculator records. The Material Topic Repository record also shows a breakdown of whether users thought the topic is an opportunity or a risk and whether the impact is actual or potential. The Sentiment Over Time section also shows how responses have changes over time.