CSRD beyond reporting: The 10 most asked questions on Double Materiality Assessment

Double Materiality is one of the hottest, yet most uncertain, topics within the sustainability sphere right now. With the date of mandatory CSRD disclosure rapidly coming closer, many organizations feel overwhelmed when it comes to conducting a Double Materiality Assessment in line with CSRD and the guidance provided by the European Sustainability Reporting Standards (ESRS). After Finch & Beak’s “ESG Acceleration Webinar on Strengthening Your Double Materiality Approach”, it became apparent that many organizations were looking for further guidance and advice – the majority (70%) of them either have not started yet or are still being at the beginning of their Double Materiality journey. Therefore, to answer the most pressing questions, Finch & Beak has hosted four Double Materiality Q&A roundtables in small groups. The download contains detailed answers to the 10 most relevant and pressing questions from our audience.

Double Materiality – From CSRD to Strategy

On the 13th of April 2023, Finch and Beak hosted a discussion about the novel approach on double materiality that has the potential to accelerate an organization’s sustainability strategy and stakeholder engagement, while identifying an organizations most significant ESG impacts. During the session, Bas Nuijten, director consultant at Finch and Beak, and Clodagh Connolly, Global Director at Business for Societal Impact (B4SI), discussed the practical applications of the CSRD requirements for double materiality and how it can help organizations further strengthen their sustainability approach. This article summarizes the highlights of our Double Materiality webinar while the download provides guidance for your CSRD-readiness assessment.

Going from Single Materiality to Double Materiality

In today's rapidly evolving business landscape, companies face increasing pressure to incorporate ESG considerations into their businesses. The Corporate Sustainability Reporting Directive (CSRD) requires companies to conduct a double materiality assessment to identify and disclose their most significant ESG impacts. While complying with these regulations is essential, companies can also leverage the outcomes of the double materiality assessment process to gain strategic benefits. This article proposes a novel approach to conducting a double materiality assessment, which goes beyond compliance and highlights the strategic value of the process. By incorporating a strategic lens into the assessment, companies are able to identify opportunities to enhance their sustainability performance, strengthen stakeholder relationships, and ultimately drive business growth.

Job Alert: Business Consultant Sustainability

Finch & Beak is a leading European consulting firm in the field of ESG, sustainability strategy and societal impact. Over the past 25 years, we have worked with more than 150 corporate clients across Europe, trained over 5000 managers, and worked with top-level business schools from around the world. As of March 2022, Finch & Beak has joined market leader SLR Consulting to become part of a global, fast-growing network with more than 2300 professionals working from over 90 offices across the globe. To help our European clients accelerate their sustainability performance, we are looking for a Business Consultant with a passion for climate change challenges.

Job Alert: Business Consultant Sustainability

Finch & Beak is a leading European consulting firm in the field of ESG, sustainability strategy and societal impact. Over the past 25 years, we have worked with more than 150 corporate clients across Europe, trained over 5000 managers, and worked with top-level business schools from around the world. As of March 2022, Finch & Beak has joined market leader SLR Consulting to become part of a global, fast-growing network with more than 2300 professionals working from over 90 offices across the globe. To help our European clients accelerate their sustainability performance, we are looking for a Business Consultant with a passion for climate change challenges.

Double Materiality: 3 Tips for a Practical Approach

Regulators and investors are increasingly expecting organizations to conduct their materiality assessments following the principle of double materiality. However, understanding exactly what double materiality entails, and conducting this assessment in a successful manner comes with its challenges. This article outlines the concept of double materiality in brief and provides three tips for a successful double materiality assessment with practical guidance as part of a downloadable checklist.

ESG Acceleration Webinar: Materiality In Motion

With the Corporate Sustainability Reporting Directive and European Sustainability Reporting Standards set to take effect in 2023, the sustainability reporting landscape is undergoing major development. On the 21st of June 2022, Finch & Beak organized an ESG Acceleration Webinar on the topic of materiality and the recent developments in the reporting landscape. Guest speaker Virginie Delcroix, Vice-President Sustainable Development at Arkema shed light on the materiality process followed by the company. On behalf of Finch & Beak, Director Consulting Bas Nuijten shared the highlighted changes in ESG reporting in combination with practical implications for companies. This article summarizes the highlights of the session and includes a downloadable checklist with 3 materiality activation tips.

ESG Acceleration Webinar: Materiality in Motion

To maximize the value of your organisation's materiality assessment, it is crucial to stay informed about reporting updates and incorporate it in your approach and implementation. In this ESG Acceleration webinar, we will discuss the impact of recent reporting developments including EFRAG's first draft of the European sustainability reporting standards. Special guest presenter Virginie Delcroix, VP Sustainable Development at Arkema, will share insights on how the company's recent double-materiality assessment engaged its key stakeholders, helped to sharpen the sustainability program and to connect to the business strategy.

Making Sense of the Materiality Debate

Determining the most suitable materiality approach can at first seem confusing. However, asking relevant questions will assist you in choosing the best approach, process, and tools to ensure materiality forms the foundation for embedding ESG in your business strategy. In this article Germán Saenz, of Corporate Citizenship – part of SLR, suggests important questions to ask and provides guidance to help you make sense of the materiality debate.

Activating Materiality on Climate Mitigation & Adaptation in Insurance

More than a quarter of the world’s 2,000 largest publicly-traded companies have committed to a net-zero strategy, but do all of these companies have clear action plans in place to deliver on them? Finch & Beak’s forthcoming benchmark study on the European insurance industry dives deeper into how this sector is moving towards decarbonization. A preview of this work will be shared during the upcoming ESG Acceleration Webinar on Tuesday 1 March. The webinar also features a real-life case from Storebrand – the Nordic long-term savings and insurance company that is working to have net-zero greenhouse gas emissions across its investment portfolios by 2050.