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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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Get a demo account to gain direct access to the Ecocharting CSRD platform. Explore its comprehensive functionalities:

  • Stakeholder engagement
  • Double materiality assessment
  • ESG data collection
  • Reporting & publishing
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In practice

How to engage with stakeholders

Materiality assessment Ecocharting

The process of determining double materiality begins with an internal assessment of impacts, risks, and opportunities. To secure approval from your accountant, it’s crucial that you don’t overlook any aspects. For validation, you can engage with stakeholders, for instance, by discussing your shortlist with them.

Once your list of impacts, risks, and opportunities is complete, you assign scores to determine their relative significance. Using a formula and your predefined thresholds, the materiality of the themes is determined. This process dictates which data points you will report on.

80

ESG topics

1100

Possible datapoints

10

Types of impacts & scores

CSRD & Ecocharting

Join our next webinar to learn about  CSRD and how Ecocharting can help you in your journey towards sustainability.  

  • Roadmap CSRD & the fit with Ecocharting
  • Ecocharting software: setup, costs, timeline
  • Double materiality Deep Dive
  • F.A.Q. and Q&A
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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: 

  • How to engage with whom and when?
  • Which datapoints belong in the report?
  • How to determine materiality?
  • What is the role of digitisation and automation?
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