Double materiality assessments ask organisations to look at how sustainability topics will impact them and to assess their impact on sustainability topics too.
Under ESRS, the framework used to comply with CSRD, the two dimensions of double materiality are defined as financial materiality (which assesses your sustainability risks and opportunities) and impact materiality (which assesses your impacts on environment and society).
With our deep expertise in sustainability and regulatory compliance, we are uniquely positioned to support your organisation in meeting the demands of double materiality reporting.
Double Materiality
Why is double materiality important?
Double Materiality can offer the following benefits to your organisation:
- Compliance with CSRD Requirements: The CSRD mandates that companies provide transparent and detailed reports on their sustainability impacts.
- Enhanced Stakeholder Engagement: Stakeholders must be involved to help organisations identify impacts, risks and opportunities.
- Informed Decision-Making: Having robust methodologies helps organisation identify their impacts, risks and opportunities on sustainability matters.
How does Double Materiality make your organisation more sustainable?
The dual perspective of Double Materiality is crucial for companies aiming to align with evolving regulatory standards and stakeholder expectations. It allows for a more comprehensive understanding of impacts, risks and opportunities, ensuring that sustainability is integrated into the core business strategy.
How we can help
At Energise, we offer a comprehensive service to help your organisation navigate the complexities of double materiality in alignment with the ESRS framework. Our approach includes:
- Theme mapping – we will prepare a draft list of sustainability themes to consult upon based on your existing reporting and your disclosure landscape, taking into account your reporting requirements
- Stakeholder Engagement – we will map your stakeholders and engage with selected groups and representatives to identify your impacts, risks and opportunities
- Materiality Assessment – based on stakeholder dialogue and additional research, we will identify any other impacts, risks, and opportunities, and assess them based on their severity, scope, and likelihood. We will work with you to define a threshold to determine when a sustainability matter becomes material.
- Reporting – you will receive a report that summarises the findings of the stakeholder engagement, and the results of the materiality assessment. We will also provide recommendations for improvement identified by our team during the process.
Contact us today to take the next step towards comprehensive sustainability reporting with our Double Materiality service.
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