The most recent developments in the GRI and EFRAG [draft] Standards demand organizations to assess the materiality of their impacts.
Overall, both GRI and EFRAG standards refer to multiple sources of information - quantitative monetary, quantitative non-monetary, and qualitative - to identify and assess impacts. This is the same approach that Datamaran applies using different sources for its assessment.
Datamaran’s data-driven approach considers positive and negative, actual and potential, impacts, risks and opportunities. Scale, scope, and likelihood dimensions are “baked in” Datamaran’s analysis. For example, scale refers to how “grave” an impact is. An impact may lead to non-compliance to certain mandatory or voluntary regulations, which is a graver impact. Datamaran analyzes regulation, attributing higher evidence of materiality to these matters that are addressed by a larger number of mandatory regulations.
Potential size and probability of occurrence of financial effects: Datamaran analyzes triggers of actual and potential financial effects, such as new regulations and policies by financial market institutions, as well as sustainability matters addressed by peers in their financial disclosures.