By getting started early, companies can more easily engage multiple internal departments — such as legal, audit, finance, and operations functions — on the requirements of CSRD and the double-materiality assessment and build a shared understanding of the issue’s strategic implications. A key aspe...
Double materiality assessment To navigate the CSRD and ESRS successfully, the double materiality principle must be applied. Double materiality means evaluating not only the sustainability matters that may trigger financial effects – both positive or negative – on the business (financial mate...
1. Double materiality assessment A double materiality assessment should be one of the first steps to determine the right data points and disclosures. This assessment is a structured framework that empowers you to discover the most critical ESG concerns. The ESRS 1 General Requirements lay out what...
Double materiality refers to the impact of ESG topics on people and the environment, as well as on a business’ financial success in terms of risks and opportunities presented to the business. In a double materiality assessment, organizations have to determine which ESG topics are most ...
Enforced in France since 1 January 2024, the European directive CSRD (Corporate Sustainability Reporting Directive) defines new standards and requirements for non-financial reporting.
What are the requirements of CSRD? What is the EU Taxonomy? What are the European Sustainability Reporting Standards (ESRS)? What is “double materiality” in CSRD? What is the difference between CSRD and SFDR? What are the differences between CSRD, TCFD and IFRS S2? Which industries are...
Three challenging value chain requirements of the EU's CSRD regulation, what it means for procurement programs across Europe, the UK, US, Japan and Canada, and how to prepare
financial and impact perspectives. As a result, companies need to conduct a “double materiality assessment” to capture both the financial and impact materiality perspectives. This requirement was already present within the NFRD, but through the CSRD, reporting requirements are becoming...
Those polled by Workiva further say the volume of different requirements they must contend with rank as their top compliance concern; 83 percent also agree that collecting accurate data to fulfil the double-materiality requirements of the CSRD is going to pose a significant challenge to their organi...
As ESG reporting requirements evolve, here’s what US companies need to know about the EU Corporate Sustainability Reporting Directive (CSRD).