What is double materiality in ESG?
Based on the Sustainability Act (Act No. 108 of 2023) and the EU CSRD (Corporate Sustainability Reporting Directive) adopted in December, large companies must conduct a double materiality assessment that covers their entire activity. Dr. András Balásfalvi-Kiss, head of ESG and Sustainability at Grant Thornton, explains what this actually means and why companies should focus on it.
The dual materiality assessment plays a crucial role in optimizing the allocation of resources to achieve CSRD compliance, while providing invaluable insights for shaping the company’s overall strategy:
It helps identify significant business opportunities, risks, trends and brand attributes.
It makes it easier to decide which ESG topics and initiatives the company should prioritize.
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