Understanding the Materiality Matrix, our roadmap for value creation

08/06/2023 - 1 min de lectura

While the matrix may look relatively simple, it is the result of a long and careful process to make sure that our priorities are precisely targeted as they can be.

The frequency with which WDP reviews its materiality matrix depends on changes in the immediate environment, on macroeconomic or internal changes and on (natural) evolutions at company level. We aim for an average recurrence between 2 and 4 years.

Stakeholder engagement: the key to relevant action

To create our matrix, we first identified all the sustainability themes that could be relevant for WDP, retaining a longlist of 230 potentially important themes. We then carried out an impact assessment for each of these to hone down our selection to 14 material topics.

The next step was to rank them in relation to their importance. At this stage, we engaged with a wide range of stakeholders to make sure that the topics were considered from every perspective. Our stakeholder panel included clients, investors, financiers, shareholders, third-party benchmarks, analysts, suppliers, policymakers and community representatives as well as WDP employees.

Double materiality

At WDP, we base our analysis on a ‘double materiality’ approach. This means that we not solely consider the financial impact perspective (outside-in impact) or the impact of the 14 materialities on WDP’s business, but also the the social impact perspective (inside-out impact) or the impact of WDP’s business on the 14 material topics. In consultation with our stakeholders, we can thus identify the topics and actions through which WDP can create the most positive impact.