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The rising influence of double materiality in ESG reporting

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By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on Fintech Global or enjoy below:

🗞️ Driving the news: The rise of Double Materiality Assessments (DMA) is reshaping ESG reporting, moving it from a compliance task to a critical business asset
Companies are leveraging DMAs to align with the Corporate Sustainability Reporting Directive (CSRD), identifying risks and opportunities that influence both regulatory compliance and long-term success

🔭 The context: As ESG frameworks like the Global Reporting Initiative (GRI) and the International Financial Reporting Standards (IFRS) converge, businesses face the challenge of integrating ESG data into their broader operations
Efficient data management is becoming crucial for meeting diverse regulatory requirements, especially within the EU

🌍 Why it matters for the planet: The growing influence of double materiality promotes transparency and resilience, embedding sustainability deeper into corporate strategies while fostering responsible business practices across supply chains

⏭️ What's next: Companies must refine their ESG reporting practices to ensure compliance with global standards and optimize supply chain sustainability, while regulatory support may be necessary for smaller, non-EU-based suppliers

💬 One quote: “If your double materiality assessment is superficial, you miss the real opportunities for growth and innovation” - Ted Paulus, senior director at Position Green

📈 One stat: Over 50,000 companies will be subject to double materiality assessments under the EU’s Corporate Sustainability Reporting Directive (CSRD)

Click for more news covering the latest on corporate sustainability 

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