“Automating materiality accelerates our clients through ESG topic prioritization, so they can quickly move to using their insights to align leadership and resources around key topics and building a plan for ESG improvement.” – Andries Verschelden, CEO & Co-founder, Good.Lab
SAN FRANCISCO (PRWEB)
August 11, 2022
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 tool 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 Equity firms 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.
Andries Verschelden, CEO & Co-founder at Good.Lab, said: “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 quickly 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.”
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.
Learn more about Good.Lab’s Software & Materiality Assessment: https://getgoodlab.com/solutions/esg-materiality-assessment/
Good.Lab was started to create a more equitable and sustainable economy by unleashing the power of Environmental, Social and Corporate Governance (ESG) data. Companies today are increasingly evaluated on a long-term commitment to delivering positive outcomes in their communities, on the environment, to their workers, customers, and shareholders. Good.Lab helps companies supercharge their ESG performance and turn sustainability into a competitive advantage through a combination of ESG Performance Software and expert program management. Good.Lab is a 1% for the Planet member, as well as a pending B-Corporation. Visit us online at http://www.getgoodlab.com.
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