Good.Lab, an Environmental, Social, and Governance (ESG) data software company, has announced the launch of a Materiality Assessment Tool as part of its ESG performance software. The Materiality Assessment enables organizations to quickly identify and prioritize among numerous ESG topics and is considered a critical first step in successfully launching an ESG strategy.
Conducting a Materiality Assessment is typically a costly and time-consuming process for an organization; however, it is considered as essential for driving performance improvements across a focused set of ESG impact areas. Good.Lab’s Materiality Assessment tool automates this process by aggregating data inputs from multiple stakeholders into a dynamic Materiality Matrix that can be used to align leadership around a focused and measurable set of ESG goals. The tool allows for frequent updates as new stakeholders are included and to maintain relevancy given rapidly changing business dynamics.
The Materiality Assessment tool can be deployed by consultants, in-house ESG and sustainability leaders, and Private Equityfirms to drill-down into and analyze the data by an individual topic or grouping of ESG topics, by one or more companies, subsidiaries, or clients, or by one or more stakeholders, or functional teams allowing for powerful peer and industry comparisons.
We added the Materiality Assessment module to our ESG Performance Software to streamline what has traditionally been a time-consuming process – think days long workshops, Excel, and post-it notes exercises. By automating this process, our clients can easily identify priority ESG topics, align leadership and resources around those topics, and build an action plan for improvement. Rather than invest the time in the exercise they can use the insights to focus on creating value.
Andries Verschelden, CEO & Co-founder, Good.Lab
Good.Lab’s ESG Performance Software, which includes the new Materiality Assessment module, empowers companies in all stages of ESG maturity – from those just activating an ESG program, to companies looking to accelerate their efforts, on to those wanting to improve their ESG performance though a quantitative, data-driven methodology that aligns with common frameworks, such as ISSB, SASB and GRI.
Disclaimer: Good.Lab does not provide tax, legal, or accounting advice through this website. Our goal is to provide timely, research-informed material prepared by subject-matter experts and is for informational purposes only. All external references are linked directly in the text to trusted third-party sources.
Ready to talk ESG?
Connect with our ESG experts today!
From ESG program development to ESG target setting, data management and reporting, our team of ESG experts can help you fast-track building a world-class ESG program.
Sustainable Compliance: How Protingent Met Microsoft’s GHG Emissions Reporting Requirements with Good.Lab
Protingent needed an experienced solution partner with climate expertise and the right tools to streamline their emissions management processes. With a pragmatic approach, in- house experts, and scalable software solutions, Good.Lab proved to be the right partner to support Protingent in producing an accurate GHG emissions baseline across Scopes 1, 2, and 3, calculating their […]
Navigating the Federal Marketplace: Staying Competitive on Sustainability & GHG Emissions Management for Government Contractors
The U.S. Government is focused on driving sustainability through its procurement processes. New Federal policies have been introduced to incentivize Federal contractors to measure, manage and report on their greenhouse gas (GHG) emissions and other environmental, social, and governance (ESG) initiatives. To win more contracts and maintain their competitiveness, contract bidders must keep relevant Federal […]
Why Every Apparel Company Should Measure Their Greenhouse Gas Emissions
The apparel industry faces as many high materiality ESG issues as any other industry – greenhouse gas (GHG) emissions, raw materials, water, biodiversity, DEI, supply chain sustainability, among other ESG topics are critical. One ESG issue that rises to prominence for apparel is emissions. Key players in the industry are collaborating and innovating to reduce […]
