Stakeholder engagement is pivotal in conducting successful double materiality assessments as required by the Corporate Sustainability Reporting Directive (CSRD). However, effectively gathering and integrating broad stakeholder feedback can be challenging. This article outlines pragmatic strategies using advanced software solutions to facilitate efficient and effective stakeholder involvement.
Effective double materiality assessments begin by clearly identifying relevant stakeholder groups. Our software aids in categorizing these groups and aligning them with pertinent CSRD reporting topics, ensuring that every voice is geared towards impactful discussions.
Karomia's platform automates the development of tailored engagement tools such as surveys, interviews, and focus groups. By directly linking these tools to stakeholder needs, we streamline the process, making it both comprehensive and specific to double materiality requirements.
A practical implementation of our software showed significant efficiencies in a double materiality assessment for a financial sector client. Engaging over 250 stakeholders through various methodologies, our platform collected extensive qualitative and quantitative data, providing robust insights into material risks and opportunities with substantial time and cost savings.
Karomia’s advanced software solutions transform the stakeholder engagement process for CSRD double materiality assessments into a strategic advantage. By simplifying and automating key steps, we enable organizations to capture essential stakeholder insights efficiently, thus enhancing the overall quality and effectiveness of their corporate sustainability reporting.
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