Διπλή σημαντικότητα

Double materiality is the foundational concept underpinning the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). It requires companies to assess and report sustainability information from two complementary perspectives: impact materiality and financial materiality.

Impact materiality (also called "inside-out" perspective) considers the company's actual or potential, positive or negative impacts on people and the environment over the short, medium, and long term. This includes impacts connected to the company's own operations, products, and services, as well as impacts through its upstream and downstream value chain. A sustainability matter is material from this perspective when it relates to significant impacts.

Financial materiality (also called "outside-in" perspective) considers sustainability matters that trigger or could trigger material financial effects on the company. This includes effects on the company's cash flows, development, performance, position, cost of capital, or access to finance over the short, medium, or long term. A sustainability matter is financially material when it generates risks or opportunities that influence or are likely to influence future cash flows.

A sustainability topic is material under ESRS if it is material from either or both perspectives; they are not cumulative requirements but alternative triggers. The double materiality assessment is a prerequisite for determining which ESRS disclosure requirements apply to a given company. Companies must document their assessment methodology, including stakeholder engagement processes, and have their sustainability reporting assured by an independent auditor. The European Financial Reporting Advisory Group (EFRAG) has published implementation guidance to help companies conduct their double materiality assessments consistently.

• CSRD/ESG