The Social Hub's DMA
Setting sustainability priorities
Whether a local, traveller, student or professional, The Social Hub (TSH) connects guest with passionate people from all walks of life to meet, share ideas and experiences. TSH is on a journey to be as responsible and impactful as possible. With ‘Social’ at the centre of its name, TSH focuses on creating a better society and a fairer and greener world through its programming for the community and impact from business operations.
A DMA for TSH
Having already set a long-term sustainability strategy, TSH reached out to The Terrace for support in taking its ambitions to the next level. After successfully achieving B Corp certification, TSH also looked to us to guide them through their Double Materiality Assessment (DMA) in preparation for the Corporate Sustainability Reporting Directive (CSRD).
Sustainability spans a wide range of topics, but not every issue is equally relevant to every company. This is where double materiality comes in — helping organisations like TSH identify which sustainability topics they need to report on. By considering both financial and social/environmental impacts, the double materiality assessment ensures that the issues most critical to TSH and its stakeholders are prioritised.
Setting clear priorities
To carry out this assessment, we facilitated a series of workshops with TSH’s team members from across the organisation. As representatives of different stakeholder groups, they provided different perspectives and helped to identify the topics most relevant—for both TSH and its stakeholders.
Climate change, the supply chain, and community impact emerged as key focus areas. The Social Hub is already making great progress in these areas, with ambitious targets to reduce its environmental impact and actively working on initiatives such as decarbonising their energy supply, installing renewable energy sources on-site, introducing supplier assessments, and enhancing recycling practices. On the social front, TSH is equally dedicated to creating inclusive spaces for both team members and guests.
The path forward
The DMA was critical in identifying key areas of focus and prioritisation for The Social Hub’s sustainability reporting efforts for CSRD. The next step for The Social Hub is to revise their existing strategy in line with the findings from the DMA, ensuring that time and resources are directed towards the most significant and relevant sustainability topics.
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