Unpacking CSRD: European Sustainability Reporting Standards (ESRS) and Double Materiality Assessment (DMA) Explained
INSIGHTS | Double Materiality and its Implications for CSRD Reporting
The CSRD mandates companies to reveal sustainability information concerning the effects of their operations on both people and the environment. Additionally, it requires disclosure on how sustainability issues impact the companies themselves. This dual perspective, known as double materiality, stands out as a crucial advancement introduced by the Directive. In our latest blog article, we look into the role Double Materiality has in CSRD reporting and why companies should consider it as a key element of their sustainability strategy.
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REGULATORY UPDATE | Developments in Sustainability Reporting Standards
August was a particularly slow month after an eventful July, which culminated with the adoption of the ESRS. Around mid-August, the EFRAG delivered draft documents for value chain reporting guidance, double materiality assessment guidelines, as well as a mapping of the interoperability between the ISSB and the ESRS and interoperability statements for both the ISSB and GRI. In addition, the International Auditing and Assurance Standard Board (IASSB) published its proposed global sustainability assurance standard with a period of open consultation ending on December 1st. The standards are being developed in alignment with the CSRD.
INSIGHTS | Understanding the Official ESRS and its Final Revisions
On the 31st of July, the European Commission published and adopted the official version of the topical European Sustainability Reporting Standards (ESRS), the standards within the Corporate Sustainability Reporting Directive (CSRD). The draft ESRS published in June contained substantial changes. What can we expect from this new version of the ESRS?