How to involve stakeholders in the Double Materiality Assessment

Modified on Wed, 18 Jun at 12:55 PM

With Daato, you can involve stakeholders in several steps of the double materiality analysis. In this article, you will learn how it works.

If you first want to know which stakeholders you should involve and how to set them up in Daato, you can find that information here and here.

Step 1: Conducting the definition of relevant sustainability topics with stakeholders

You can involve all stakeholders that you have previously set up in Daato in defining relevant sustainability topics and ask them to assess the importance of each topic, ranging from "very low" to "very high." Stakeholders also have the opportunity to suggest additional company-specific topics.

You can create the survey using the following button:

Now, you can create the survey in three steps:

After providing some information, in the second step, you can select which stakeholders will be included in the survey:

After selecting the stakeholders, you can set a deadline for responses and draft a message to both internal and external stakeholders:

Your stakeholder will then receive an email and be invited to Daato. By clicking on the link in the email, the stakeholder will be directed to the survey, where they will see the assigned ESG categories and sustainability topics (see screenshot below):

Please note that each invited stakeholder will only see the sustainability topics assigned to them when you initially set up the stakeholder.

Based on the survey results, you can then see how relevant your stakeholders consider the sustainability topics and whether they suggest any company-specific topics. Based on this, you can decide, using the toggle switch, whether to classify the topics as relevant or not and whether to include the company-specific topics (under the "Proposed Sustainability Topics" tab).

Step 2: Identifying IROs

You can also involve stakeholders in the identification of IROs. This works similarly via the survey button in step 2.

The steps for sending the survey are the same as described in step 1 above — you select the stakeholders, set a deadline, and compose a message.

Based on the survey results, you can then see how relevant your stakeholders consider the IROs and whether they suggest company-specific IROs. Based on this, you can decide, using the toggle switch, whether to classify the IROs as relevant or not and whether to include the newly proposed IROs (under the "Proposed IROs" tab).

Step 3: IRO assessment

You can also seek support and involve your stakeholders when evaluating the IROs. Unlike the previous steps, this is not done through a survey, but rather via the "Collaboration" feature in Daato. To do this, click on "Evaluate" next to one of the IROs and then on "Start Collaboration."

You can now involve relevant stakeholders to assist you in this evaluation, leave a message, give the query a title, and set a deadline.

The recipients can then add their responses to all evaluation criteria, which you will see under each respective entry.

Afterward, you can decide which stakeholder inputs you want to include in your final evaluation.

Do stakeholders need to log in to the system to answer surveys?
Yes.

Can and should I assign individual stakeholders to multiple groups?
No, this is not possible. When creating groups, you should therefore focus on the topics the respective stakeholder or stakeholders in the group should assess, rather than which group within your organization they belong to.

Can I assign topics only to groups, or also to individual stakeholders?
Topics can only be assigned to groups. If you want to assign specific topics to just one stakeholder, you will need to create a group for them.

Can I conduct multiple surveys simultaneously?
No, only one survey can be conducted at a time. Therefore, it is especially important that you take the time to add and involve all relevant stakeholders before starting the survey. The different stakeholders will not be aware of who else is participating or being surveyed, so surveys with internal and external stakeholders should be conducted at the same time.

Can I modify surveys after they have been sent?
No. Only the due date can be changed. If you make that change, stakeholders don't receive any new information, the due date is just changed for the requests.

Are the results of past surveys saved when I create a new one?
No. If you do need results from a past survey, please contact us.

Why are stakeholder responses in Step 3 of the collaboration process not automatically transferred to the response fields?
The collaboration feature allows multiple people to work together simultaneously, not just one person. Because responses from different stakeholders may vary, the data is not automatically transferred to the final response field but is displayed below it and must be manually entered by the admin.

In which language do stakeholders see the queries?

Stakeholders can set the language themselves in the software by clicking on their user profile and changing the language there.