7th May 2023

An ESG materiality assessment is a tool used to identify and prioritise ESG issues that are the most critical to your firm.

The outcome of a ESG materiality assessment process will be different for everyone – enabling you to understand the relative importance of specific ESG topics to your own business.  Armed with the findings of your ESG materiality assessment you will be better placed to dedicate resources and focus on those areas most  material to your firm.

Steps to identify material topics for your firm include:

  • Brief stakeholders (see Section 5) on the objective of your materiality assessment.
  • Identify what you want to measure and prioritise from the list of ESG topics (See In Focus – ESG Stepping Stones below).
  • Design your discussion  informed by the number/type of stakeholders.
  • Start gathering insights and feedback on the identified ESG topics.
  • Analyse the feedback received to finalise the ESG topics material to your firm.

Support with all of the above five steps can be found within guidance from Thomson Reuters.

In focus: ESG Stepping Stones, Insurance

Our ESG Stepping Stones one to eleven provide an introduction to the following key

ESG material topics relevant to insurance. These will aid your understanding .

Environmental management

Green offices (premises, reduce-reuse-recycle, etc)

Carbon management strategy – reduction (energy efficiency) and offset

Social value management

Diversity, equity, and inclusion (DEI)

Mental health and wellbeing

Local community engagement

Modern slavery and human rights


Anti-bribery and corruption (ABC) and anti-money laundering (AML)

Data protection and privacy

Investment strategy

Responsible procurement (suppliers, insurers, etc)

Partnership with clients on green repairs and products

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