Datamaran has released a new version of its automated Double Materiality assessment solution which helps organizations identify issues that are relevant to their business, as well as evaluate their impacts, risks, and opportunities. This is achieved through a fully customizable data-driven approach, which allows for a deep dive into any ESG topic, as evidenced by AI-generated mentions of impacts, risks and opportunities.
To assess the entire value chain of the organization, identifying impacts, risks, and opportunities in your company's operations, as well as upstream and downstream value chains, you need to perform one main analysis, in the newly introduced Double Materiality module.
To set up this master analysis navigate to the Double Materiality module by selecting it from the Menu on the left-hand side.
To start your analysis, name it in the "Analysis name" field.
Next, populate the Industries & Peers data with the parameters defined for your core operations and for the upstream and downstream perspective
Datamaran gives you the possibility of adding additional stakeholders (up to 7 custom data by aspect) by clicking on "Add custom data" on the correspondent axis.
Once you have set up the parameters and populated the data fields, you will need to add the value stream weights, where you can select an equal weighting for all three analyses or select different weighting perspectives depending on your considerations.
Now, you can click on "save and run analysis" to see the overview results page
When you have completed the analysis for your organization's value chain export the file:
- Clicking on the three dots menu
- Click on "Export data"
In the exported file compiling the results and scores of your three perspectives (core operations, upstream, and downstream) for all topics. Divide full value chain scores into Tiers:
- Tier 1: Material
- Tier 2: To be validated through stakeholder engagement
- Tier 3: Not material
Delve into the AI-generated insights for each topic to assess its relevance. If relevant, or not, make notes on them; especially if it is a significant impact, risk, or opportunity for your organization.
For CSRD: Download the consolidated list of material topics mapped against ESRS topics. This list will indicate which disclosure requirements they need to comply with for those material topics in the scope of ESRS. Note: for non-ESRS topics, there are no specific disclosure requirements. However, the Impact Risk and Opportunity (IRO) still needs to be described.