case study: materiality that means something - turning ESG noise into actionable insight
Updating the materiality assessment for a large UK energy company that is aligned with the principles of CSRD and GRI.
at a glance
challenges
evolving risk landscape
With increasing attention on climate, social, and governance risks and changes in reporting requirements, companies face growing pressure to identify and manage sustainability issues that could impact long-term business performance and resilience.
rising stakeholder expectations
Investors, customers, and society groups are demanding greater transparency on how companies both affect and are affected by environmental and social challenges, driving the need for robust, credible insights to support strategy and decision-making.
outcomes
initiated robust process of alignment with CSRD and GRI requirements
Ensuring compliance with sustainability reporting obligations.
engaged key internal stakeholder groups
To gather insights and validate findings.
support decision-making
On ESG strategy, risk management, and resource allocation.
As sustainability conversations grow louder and more conflicting, companies are under pressure to cut through the noise and focus on the ESG risks with a materiality process that captures both financial exposure and broader environmental and social impacts that really drive performance and reputation.
We worked with a major UK energy business to refine their materiality assessment, giving leadership the clarity to prioritise resources, strengthen stakeholder engagement, and integrate sustainability into core business strategy.
objectives
A large UK oil and gas operator sought to update their materiality assessment, starting the process of aligning with the principles of double materiality, as currently required by the EU Corporate Sustainability Reporting Directive (CSRD) while incorporating Global Reporting Initiative (GRI) disclosure requirements.
The company aimed to understand both the financial materiality (how sustainability issues impact financial performance) and impact materiality (how its operations affect the environment and society).
The assessment was designed to inform the company’s sustainability strategy, risk management framework, and ESG disclosures, ensuring the process of alignment with reporting requirements and stakeholder expectations is underway.
steps taken
regulatory and framework alignment
By mapping CSRD and GRI reporting obligations to determine key double materiality considerations.
materiality mapping and risk assessment
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Identified sustainability issues relevant to the business, including climate risk, biodiversity impact, just transition, and energy security.
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Applied a financial materiality lens to assess risks and opportunities, such as carbon pricing, stranded assets, and regulatory fines.
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Applied an impact materiality lens to evaluate environmental and social effects, including GHG emissions, ecosystem degradation, and community well-being.
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Thorough documentation of justification of materiality of IROs (Impacts, Risks and Opportunities) for each material topic.
conducted workshops with key internal stakeholders, and assessed stakeholder priorities to understand external expectations and concerns
Developed a double materiality matrix to visualise key sustainability risks and opportunities and provided recommendations for disclosure, risk mitigation, and strategic initiatives.
results
prioritisation of material issues
From both financial and impact materiality perspectives, enabling the client to prioritise targeted action plans for emissions reduction, supply chain resilience, and stakeholder engagement.
enhanced compliance and disclosure readiness
Supporting initial steps towards compliance with evolving regulatory requirements.
integration of double materiality findings into annual financial and sustainability reports
provided leadership
With clear justifications to support decision-making: for capital investment, risk management, and sustainability strategy.