The HumanverseTM Materiality Approach: A New Paradigm in Assessing ESG Risks
In a world teetering on the brink of environmental and social thresholds, companies are under increasing pressure to align their operations with sustainable practices. Enter DevryBV Sustainable Strategies, a company that's redefining the way businesses engage with Environmental, Social, and Governance (ESG) risks through our proprietary 'Humanverse Materiality Approach'. Our engaging and unconventional method is not about ticking boxes; it's a transformative journey toward corporate authenticity and humanity-centric stewardship.
The Quest for Corporate Truth.
At the heart of DevryBV's unique approach lies the guiding principle of truth, which is inherent in our company logo, a circular logo with three rings that represent people, nature, and profit, a logo that is open, not closed, allowing the truth to flow in and out of companies as they learn more, discern more, engage more with those impacted by their business activities.
The quest for truth is about delving into the essence of the business—its core values, culture, operations, and impact on the broader canvas of society and nature. The process begins with introspection, as businesses must actively seek, face, and follow the truth. But it doesn't stop there. Remaining open to change and sharing truthfully with stakeholders is pivotal in comprehensively understanding the issue at hand and the extent of its materiality to both the company and people and nature.
Financial Impact and Beyond.
DevryBV challenges companies to confront two fundamental questions.
Firstly, "What is the financial impact of this specific issue on the company, and to what degree?" We probe a company's direct and indirect financial repercussions on an environmental, social, or governance issue. It's not solely about the bottom line; it's about understanding how sustainability risks factor into long-term profitability, brand equity, reputation, and shareholder and stakeholder value.
Secondly, "How do the business activities of the company on this specific issue impact people and nature, and to what degree?" This question extends the scope of impact beyond the confines of the company, encouraging a broader view of how a company’s actions resonate through ecosystems and communities.
The Shared Issues Stack.TM
A key element of the Humanverse Materiality Approach is the concept of a 'shared issues stack'. This stack is a visual and strategic tool that merges the company's priorities with those of its stakeholders. The issues that the company may deem as peripheral, but which stakeholders find critical, are also placed on the company's agenda. The shared issues stack ensures a holistic view of materiality, one that encompasses a wide array of concerns from all relevant parties.
Each company’s shared issue stack is unique to its business. In the graphic below, some issues have been identified for illustrative purposes. The issues in the stack should not be considered all negative to a company, and in fact, can demonstrate where the company is also making positive strides that stakeholders care about.