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This paper concerns with the measurement uncertainty estimation in the analog‐to‐digital conversion‐based instruments. By using an ad hoc developed software tool, the Monte Carlo method is applied in order to assess the uncertainties associated with the measurement results, overcoming the possible inapplicability of the pure theoretical approach prescribed in the ISO – “Guide to the Expression of Uncertainty in Measurement”. By implementing the software tool in the measurement instruments, the proposed approach can be utilized in order to make the instrument itself able to auto‐estimate the measurement uncertainties.

This paper aims to contribute to the emerging debate on materiality with novel and original insights about the managerial and theoretical implications related to the adoption of the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB) as reporting standards. Furthermore, the paper will evaluate the main drivers that favor the combination of the two standards by companies to develop new knowledge about the hierarchical relationship between financial and sustainability materiality.

Building on a sample of 2,046 US listed companies observed during the period 2017–2020, the research is conducted using quantitative methods. Multinomial logistic regressions are used to evaluate the differences between GRI and SASB’s adoption.

The analysis highlights that financial and sustainability materiality are driven by different purposes. In detail, SASB’s adoption is driven by factors directly related to financial dynamics, while GRI’s adoption is influenced by the existence of corporate governance mechanisms inspired by sustainable and ethical principles. Furthermore, the last analysis reveals that the combination of the two standards is characterized by the predominance of sustainability materiality.

To the best of the authors’ knowledge, this is the first empirical study on the relationship between financial and sustainability materiality.