a Materiality Matrix analysis can be a valuable
tool for funeral entrepreneurs. This analysis helps
to identify and prioritize the most significant issues
related to sustainability that matter to stakeholders
and have a high impact on the business. By
mapping environmental, social, economic, and
governance issues against their significance and
relevance to the business and its stakeholders,
funeral entrepreneurs can focus on the aspects that
matter the most.
Here are some key areas to consider in the Materiality
Matrix Analysis:
Environmental Issues:
• Energy Management: Implement energy-efficient
practices to reduce carbon emissions and energy
consumption.
• Responsible Purchasing Management: Source
products and materials from sustainable and ethical
suppliers.
• Sustainable Practices on Servers: Adopt sustainable
practices and energy-efficient technologies if digital
services are used.
• Electronic
Equipment
Waste
Management:
Responsibly recycle and dispose of electronic waste.
• Managing the Carbon Footprint of Travel: Minimize
travel-related
emissions
through
eco-friendly
transportation options.
Social Issues:
• Promote Sustainability to Customers: Educate
and engage customers about sustainable funeral
options.
• Diversity, Inclusion, and Employee Wellbeing:
Foster a diverse and inclusive work environment
that prioritizes employee well-being.
• Human Capital Development: Invest in employee
training and development to build a skilled and
resilient workforce.
• Talent Attraction and Retention: Implement policies
and benefits to attract and retain individuals
aligned with sustainability values.
• Technological Education for New Generations:
Promote
digital
literacy
and
technological
education.
• Promoting Accessibility of Developed Products:
Ensure funeral services and products are accessible
to all segments of society.
• Bridging the Technology Gap (Especially Among
Older People): Provide support and education to
older customers and employees.
• Reduce Interference of Biases in Data Analysis:
Ensure ethical data practices and algorithms to
minimize biases.
• The Social Impact of Company Being Listed:
Consider the social implications of being a publicly
listed company.
Economic and Governance Issues:
• Corporate Governance, Ethics, and Accountability:
Adhere to strong governance practices and ethical
conduct.
• Codes of Business Conduct, Anti-Corruption, and
Bribery: Implement policies to prohibit corruption
and bribery.
• Anti-Competitive Behavior: Avoid engaging in anti-
competitive practices.
In today’s market, we can see a growing focus on sustainability, with
countries worldwide embracing new concepts and integrating them
into the norms of funeral services.
30
No. 103 – AUTUMN 2023 | THANOS MAGAZINE
SUSTAINABILITY