GreenCo Assists Company in Enhancing ESG Report through the Double Materiality via Stakeholder Engagement

Applying Double Materiality in Sustainability Reporting

GreenCo recently supported a local company in the cargo handling sector in conducting a stakeholder engagement exercise as part of its sustainability reporting process using the double materiality approach. This initiative aligns with the growing trend of non-listed companies paying more attention to sustainability, driven by new global requirements and regulations.

A key enhancement in sustainability reporting is the increasing prominence of double materiality, which emphasises the assessment of the significance of both the company’s impacts on the environment and society, as well as the impact of environmental and social factors on the company’s financial performance.

GreenCo assisted the company in navigating this update by adopting a streamlined approach. We invited selected key stakeholders to fill out a survey to indicate their preferences on the importance of each ESG-related topic, as well as representatives from key stakeholder groups to participate in an interview to discuss on the Company’s sustainability performance. By identifying material ESG-related topics through the application of double materiality, the company can further understand its sustainability impacts and develop more suitable policies and approaches in response to those topics.

Building a robust foundation is of utmost importance for companies seeking to meet evolving sustainability expectations. With investors and stakeholders increasingly prioritising transparency, companies must act proactively to navigate this landscape and ensure long-term value creation. Contact GreenCo today to learn more about how we can help your business to enhance sustainability performance.