Double Materiality

Double materiality expects companies not only to look at the impact on their organization, in other words the contribution to the bottom line, but also expects organizations to look at their impact on issues that are deemed material. Once combined, these outside-in and inside-out views guarantee that companies describe and act on material issues that matter most from both a financial, as well as a societal point of view.
 
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A New Way of Sustainability Reporting: CSRD

With the aim of improving the widespread availability and use of sustainability information across different stakeholder groups, the EU Commission announced its proposal for a Corporate Sustainability Reporting Directive (CSRD). The proposed Directive for the coming years will enhance the rules laid down within the Non-Financial Reporting Disclosure (NFRD), as it will extensively widen the scope of companies applicable to these new reporting legislations; from roughly 11,700 to approximately 49,000. Above the increase in the level of detail being required, companies will also have to verify the information being reported through an external assurer, amongst other decrees. As companies are expected to adopt the first set of new standards by 2024, it is crucial to fully understand the implications and their readiness ahead of the implementation date.
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Re-Fresh Materiality Assessment: Lean, Compliant, and Driving Value & Impact

Finch & Beak's approach to materiality matches the key requirements according to frameworks like the GRI Standards and CSRD, and most importantly: it is geared towards action. Not just for reporting purposes, but providing base materials for both internal and external engagement and advancing your company’s sustainability strategy. Industry-specific emerging issues are incorporated, and the process engages the most important stakeholder groups in your organization while connecting to business strategy and enterprise risk management. The turn-key, independent execution of the project is always adapted to the specific needs to the client, and asks for limited internal resources for facilitation and feedback.
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