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Stakeholder engagement - a comprehensive overview

Stakeholder engagement in line for your CSRD report is not just asking what stakeholders find important. Validation of your materiality and goals with stakeholders in a way that is quick and user friendly is difficult, so read about our guidance & software here. 

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Stakeholder engagement

Stakeholder engagement, a crucial element of sustainability management, is often misinterpreted with regards to the CSRD. In contrast to the way this was done in earlier days, to validate materiality with stakeholders is not simply asking them what they find important. 

The CSRD aims to make sustainability reporting transparent and trustworthy, and thats why the subjective input of stakeholders is not so relevant for determining materiality. However, engaging with stakeholders still is a mandatory aspect for CSRD preparations, so what information should we be looking for?

One of the most crucial elements of validation using stakeholder engagement is making sure that the shortlist of impacts, risks and opportunities is complete and accurate. This can be done in several ways. It is essential to keep track of your findings such that your accountant can verify the CSRD preparation process. 

Materiality assessment Ecocharting

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In practice

How to engage with stakeholders

Materiality assessment Ecocharting

The first step is to identify and classify your stakeholders. Utilizing a matrix, you can sort them based on the influence they exert on your firm and the extent to which they have an interest in the organization’s actions.

By providing them with partial access to the software, you can gather valuable feedback regarding your planned shortlist.

 

Ultimately, by involving stakeholders in your dual materiality analysis, new important IRO’s applications can emerge.

This process also serves as validation work. Your stakeholders will bear some responsibility in verifying your shortlist and making modifications as necessary.

80

ESG topics

1100

Possible datapoints

10

Types of impacts & scores

CSRD & Ecocharting

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Ecocharting Software

Get started and engage with your stakeholders digitally

In our software, stakholder engagement can be ensured in in several ways. All CSRD topics are ready to be assessed for double materiality. Follow our step-by-step process, and the relevant data points will automatically come into focus.

Identify stakeholder groups

Identify and assess stakeholder groups and determine which of these are so called ‘affected stakeholders’. 

Offline validation

Digitize your stakeholder engagement efforts by integrating your interviews & stakeholder dialogues within the Ecocharting platform to validate materiality.

Online validation

Perform stakeholder engagement digitally by giving your important stakeholders limited access to your CSRD shortlist to verify your materiality and provide input on goals & strategy.

Roadmap CSRD

Our most up-to-date whitepaper. Discover a complete overview of the regulations and the steps to be taken: 

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