Double materiality assessment: Difference between revisions
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*[https://www.efrag.org/Assets/Download?assetUrl=/sites/webpublishing/SiteAssets/IG+1+Materiality+Assessment_final.pdf EFRAG Implementation Guidance - Materiality Assessment] | *[https://www.efrag.org/Assets/Download?assetUrl=/sites/webpublishing/SiteAssets/IG+1+Materiality+Assessment_final.pdf EFRAG Implementation Guidance - Materiality Assessment] | ||
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Latest revision as of 13:38, 5 June 2024
Financial reporting - risk management - ESG - sustainability reporting - European Sustainability Reporting Standards (ESRS).
In the context of sustainability reporting, a double materiality assessment is one that covers material information about both:
- (1) A reporting entity's impact on people or the environment ("impact materiality") and
- (2) Financial risks or opportunities relating to a sustainability matter ("financial materiality").
For reporting purposes, a matter is material if it falls into either of these categories.
- The European Sustainability Reporting Standards (ESRS) approach to materiality
- "The ESRS require that the sustainability statement include sustainability information related to material IROs identified through a materiality assessment process that applies the principles of double materiality...
- The terms ‘material’ and ‘materiality’ are used throughout the ESRS to refer to double materiality unless otherwise specified."
- EFRAG Implementation Guidance - Materiality Assessment - p9.
See also
- Double materiality
- ESG
- European Financial Reporting Advisory Group (EFRAG)
- European Sustainability Reporting Standards (ESRS)
- Financial materiality
- Financial reporting
- Guidance
- Immaterial
- Impact
- Impact materiality
- Material by nature
- Materiality
- Materiality assessment (MA)
- Risk
- Risk management
- Sustainability
- Sustainability reporting
- Sustainability statement
