All you need to know about double materiality
With the implementation of the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS) have become the cornerstone of sustainability accountability. This shift introduced the concept of double materiality, which has created real confusion in the business world. Despite the European Financial Reporting Advisory Group (EFRAG) providing guidelines on materiality assessment, there is still a need for a clearer, step-by-step understanding of the double materiality assessment process. To aid in better comprehending this concept, we present an overview of the initial steps companies should take.
