The Challenge
As part of our work to support clients in building and implementing sustainable business structures with purpose, we were tasked with guiding, managing and producing our client’s materiality assessment. A materiality assessment is a body of work that lays the foundation for a company's sustainability strategy, KPIs and vision. It includes:
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Key material issues faced by the industry and Woodland Group in consideration of our position within the market and CSR initiatives already in place
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Competitor analysis
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Gap analysis
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Highlight possible sustainability goals considering current business strategy, risks and opportunities, culture and values, policies and process.
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Outline next steps and opportunities for the business to grow our solutions, capabilities and positive community impact
The Solution
The materiality assessment involved desk-based research into industry issues, competitors and sustainability frameworks, interviews with staff, clients and suppliers, a company-wide ESG survey covering views on social, governance and environmental factors and their importance, and the analysis of all the above. We also rolled out an ‘intro to sustainability’ training across the business to aid the success of this project and any future implementations
The process was divided into 4 phases, and the output was a materiality matrix identifying key issues by importance to stakeholders and impact on the business, opportunities for growth and business development, as well as guidance on sustainability frameworks to align with. The next steps will include:
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Defining the sustainability ambition and set clear, measurable KPIs and reporting processes
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Establish and empower staff members as to their role and responsibility in running and growing sustainable business practises, and meet KPIs in agreed timeframes
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Agreeing on ESG framework and accreditations to meet/strive for
Building of internal and external communication material to communicate sustainability strategy
