Double Materiality
Balancing inside-out and outside-in perspectives: Double Materiality considers both how the company impacts the environment and society and how the environment and society impact the company.
Stakeholder engagement ensures diverse perspectives are considered, vital for understanding and addressing both internal and external sustainability impacts in the context of Double Materiality Assessments (DMA).
Double Materiality
The new CSRD Directive, which is becoming #mandatory from 2024, requires from companies to run Double Materiality Assessment for their #ESG #reporting. This means, that companies need to assess both the impact of their operations to the environment and the society, but also the impact of climate change to their financial outcome.
Double materiality consists of three pillars:
In order for a company to run Double Materiality effectively, what is needed is:
- Our exclusive experiences blend wellness and beauty, to harmonize the body and the mind
- The assessment of the IROs (Impacts, Risks and Opportunities)
- Collaboration among the members of the sustainability team of the company
- The weights that each company sets on the IRO's
- Efficient time for the Double Materiality
- Expertise consultancy acknowledging the Risks and Opportunities of the company
Navigating Double Materiality Asssesments
