Materiality vs Double Materiality

The concept of “double materiality” in corporate sustainability reporting has found itself at the centre of a number of debates and is a key point in the new European Commission standards.?

Double materiality goes one step further than “single” materiality – which only focuses on the impact of sustainability issues on a company and its outlook – instead calling for companies to also report on their impact on the wider world, such as the climate, biodiversity and society.

Although double materiality will form an integral part of the EU's standards, there has been plenty of discussion about its use in other areas. For the time being, the International Sustainability Standards Board (ISSB) doesn't include double materiality in its global sustainability standards. However, this will probably soon change, as important players in the market pressuring the group into adding it.

Critics claim that double materiality can result in an overload of information, bad decision-making and increased information costs, particularly for smaller entities. However, its proponents believe that it can become the gold standard for sustainability reporting.

In any case, double materiality is set to be gradually introduced by the EU from 2024, so companies affected by it will have to begin collecting information starting this year.

In order to help you navigate the minefield, APLANET has created a guide to give you a deeper understanding of the concept of double materiality and discover how to integrate it into a company’s sustainability strategy. You can find it here:?

[DOWLOAD GUIDE (ENGLISH VERSION)]

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What’s been happening at APLANET in recent weeks??

These past few weeks have been very exciting here at APLANET, and we’ve been busy getting ready to unveil our new image.

We've changed in a way that allows us to more accurately reflect our fundamental values and our mission to boost corporate growth using ESG technology.

Our new identity reinforces our commitment to innovation, change and having a positive impact on the planet and the people who live there.

APLANET's rebranding marks the beginning of a thrilling new chapter in our story. We are pleased to strengthen our alliances and continue being a strategic partner to companies who aim to have a positive impact on the world.

Visit our new website and find out more here .

PRESS ROOM:?

• We closed a € 4M funding round (In Spanish)

ATALKS:?

• Social Entrepreneurship and keys to Social Innovation | Frederico Fezas
• Present and future of Sustainable Finances | Martin Nichols
• Cómo generar valor en las empresas con la sostenibilidad | Fernando Varela (In Spanish)

BLOG:

• SFDR: what is it and how does it affect your organisation
• CSRD Directive: What changes does it bring for business?
• GHG Emissions: reduction and reporting as an opportunity for companies
• ESRS: The European Sustainability Reporting Standards and how to apply them