Novisto Launches Digital Double Materiality Assessment Tool

Novisto has launched Novisto Materiality, a tool integrated into its existing sustainability performance management platform designed to digitise double materiality assessments, the process of evaluating both the financial effects of sustainability issues on a business and the impacts a business has on people and the environment. The tool is aimed at organisations subject to double materiality requirements under the EU's Corporate Sustainability Reporting Directive, as well as the International Sustainability Standards Board and Global Reporting Initiative frameworks, which also require double materiality assessment.

 

The company says the tool addresses limitations in how materiality assessments have traditionally been conducted, historically relying on qualitative surveys that lacked a standardised measurement basis, making it difficult for organisations to objectively compare competing sustainability impacts or reconcile differing stakeholder views. Novisto says its tool instead uses scoring methodology developed by GIST Impact, intended to ground assessments in standardised, evidence-based data rather than subjective input, and allows organisations to run assessments on demand rather than as infrequent, point-in-time exercises.

 

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The tool is structured to manage the assessment process end to end within a single system: guided workflows for capturing input data, AI-generated impact and financial scores for each topic, in-platform stakeholder surveys, documentation of the reasoning behind materiality decisions, and a data trail intended to support external assurance and audit requirements. Novisto positions the tool as usable both by companies conducting their own assessments and by consulting firms running assessments on behalf of clients.

 

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Katherine Bruce, ESG reporting lead at Emirates Group, said embedding materiality assessment within Novisto's platform would help maintain a clearer connection between assessment decisions and the resulting disclosures. Novisto chief executive and co-founder Charles Assaf said the company's broader aim is for organisations to manage sustainability information with the same rigour and consistency as financial information, rather than treating materiality as an infrequent compliance exercise.