DoubleMateriality.org

👉 Draft NESRS only focus on Impact Materiality Non-EU companies that generate over EUR 150 million per year in the EU and that have in the EU either a branch with a turnover exceeding EUR 40 million or a subsidiary that is a large company or a listed SME will have to report on the sustainability impacts at the group level of that non-EU company as from financial year 2028, with first sustainability statement published in 2029. The CSRD foresees the adoption of separate standards for this purpose. The deadline for the adoption of these standards as a delegated act has been extended to June 2026 and EFRAG should deliver its advice to the EC by end 2025 at the latest. The consultation on an Exposure Draft is intended for Q1 2025. Links in comments. EFRAG Global Reporting Initiative (GRI) Chiara Del Prete Giulia Bottazzi Fredré Ferreira #ESG #doublemateriality

It seems not, but you probably have an opinion 🤔 Is it a solicitation or not? Link to the post : https://lnkd.in/ecGSGSQF PracticalESG.com Lawrence Heim U.S. Securities and Exchange Commission ISS CORPORATE GOVERNANCE Glass, Lewis & Co. Broadridge EFRAG Global Reporting Initiative (GRI) Ceres, Inc. #csrd #doublemateriality #esg

👏 An approach that fits in perfectly with Double Materiality and is a useful extension of it. "The inclusion of #doublemateriality in the recent suite of European legislation (CSRD) to guide corporate reporting is an important step in the right direction" 3 challenges ahead: - Complexity for auditors - Determining threshold of environnemental impact - Let companies assessing themselves "Essential Environmental Impact Variables (EEIVs) is based on planetary materiality rather than a financial or #doublemateriality. This dramatically improves our overall understanding on impacts and risks to the planet, with knock-on effects on companies." The 15th variables of EEIVs are based on 3 levels of data: - Company level - Location and use level - Operations Beatrice Crona Emmy Wassénius Sasha Quahe Stockholm Resilience Centre Finska Vetenskaps-Societeten/Suomen Tiedeseura/The Finnish Society of Sciences and Letters Stockholm University EFRAG Global Reporting Initiative (GRI) Taskforce on Nature-related Financial Disclosures (TNFD) International Sustainability Standards Board (ISSB) International Auditing and Assurance Standards Board (IAASB) Giorgio Parlato Shruti Kashyap The Royal Swedish Academy of Sciences

Simple, direct, powerful 👋 Are we witnessing the birth of a ‘Say on DMA’? 2 bold letters by 🇱🇺 Stichting Eumedion (50 asset owners/managers) To auditors => "We call on you as external auditors to dedicate particular attention on whether or not companies succeeded in conducting a proper DMA and to be transparent on the process and outcomes of the DMA." To listed companies => "we urge you to exercise in particular diligent care in reaching out to your key external stakeholder groups, (...) and to duly report on the process and outcomes in the management report" Read it : https://lnkd.in/ejKna2Ew May this hashtag become famous : #SayOnDMA 👍 Glass, Lewis & Co. ISS-Corporate Principles for Responsible Investment United Nations Environment Programme Finance Initiative (UNEP FI) EFRAG Euronext EFAMA Eurosif - The European Sustainable Investment Forum Ceres, Inc. International Auditing and Assurance Standards Board (IAASB) CEAOB International Corporate Governance Network #corpgov #esg #climatechange

"understanding nature-related risks by mapping out macroeconomic transmission channels, emphasizing their impact on the economy and financial systems through #doublemateriality." An important piece that shows why and how Feedback loops/Transmission channels can't be ignored further by financial players and Govs. Excellent note by the IMF Staff Charlotte Gardes-Landolfini William Oman, Jamie Fraser, Mariza Montes de Oca León, PhD Yujia Yao International Monetary Fund The World Bank Group OECD - OCDE International Organization of Securities Commissions - IOSCO Financial Stability Board (FSB) Network for Greening the Financial System (NGFS) Download : https://lnkd.in/egxNM2AW

Nordhaus' model is wrong, Central Banker are aware of that. A #DoubleMateriality approach can help, Research is all over the place. Link in commentary Sabine Mauderer Network for Greening the Financial System (NGFS) PIK - Potsdam Institute for Climate Impact Research Stockholm Resilience Centre OECD - OCDE Emmanuelle Assouan Financial Stability Board (FSB) International Organization of Securities Commissions - IOSCO IPCC United Nations Environment Programme Finance Initiative (UNEP FI)

🇺🇸 "More companies are now living in a double material world." 👋 Methodology : 250 sustainability reports from S&P 500 companies published between January 1 – July 30, 2024. (source Teneo) "Almost 80% of companies conducted a materiality assessment – about the same percentage as last year. However, the number of companies that have completed (or were in the process of completing) #doublemateriality assessments tripled from 9% in 2023 to 27% in 2024." FSB Task Force on Climate-related Financial Disclosures (TCFD) SASB Standards Global Reporting Initiative (GRI) EFRAG United Nations Environment Programme Finance Initiative (UNEP FI) International Organization of Securities Commissions - IOSCO Public Interest Oversight Board | PIOB Stockholm Resilience Centre #esg #csrd #climatechange #biodiversity Matt Filosa Diana Lee Adia Njie Read more : https://lnkd.in/eRgtTGxt

🔥 "Notably, larger (AUM) asset owners were more likely to select “very relevant” for double materiality". Tthe bigger the investors, the more they have to look ahead and anticipate. Asset owners are less and less a separate stakeholder, or disconnected. This topic is linked to the debate around the evolution of the fiduciary duty. Single and Double are not opposites, nor are they complementary. It's just that one comes before the other. Source : Morningstar 's "Voice of the Asset Owner Survey 2024 Quantitative Analysis", among asset owners, the largest tend to view themselves as universal owners who consider the broader impact of their investments on the world. Download : https://lnkd.in/e5nKZW2n Morningstar Sustainalytics Principles for Responsible Investment Ceres, Inc. United Nations Environment Programme Finance Initiative (UNEP FI) Glasgow Financial Alliance for Net Zero (GFANZ) EFRAG Global Reporting Initiative (GRI) #esg #sustainability Network for Greening the Financial System (NGFS)

« Intangibles, sustainability and value creation » 2 solutions are emerging today (Patrick de Cambourg): - Expand the boundaries of the financial reporting - Develop second pillars to reporting to offer additional information beyond what’s needed into financial reporting Amazing discussions at the 19th EIASM interdisciplinary conference in Grenoble, France. #intheroom Eelco van der Enden Dr Mario Abela Alexandre Rambaud Véronique Blum PhD Stefano Zambon Shruti Kashyap Laura Girella Nicolas Konialidis, CFA, CVA, ASA-BV EFRAG IFRS Foundation Global Reporting Initiative (GRI) EIASM Network International Accounting Standards Board (IASB) Université Grenoble Alpes International Valuation Standards Council (IVSC) Stockholm Resilience Centre #ESG #CSRD #Accounting

Who's around the table? 🇨🇳 China is working on its sustainability reporting standards. The Ministry of Finance has indicated that it is studying alignment with ISSB and EU standards. On Sep 4, Chinese Ministry of Finance appointed 62 Advisory Committee members for Sustainability Disclosure Standards. We have grouped the experts by type of organisation to see if this says anything. International Sustainability Standards Board (ISSB) EFRAG Global Reporting Initiative (GRI) Taskforce on Nature-related Financial Disclosures (TNFD) Network for Greening the Financial System (NGFS) OECD - OCDE #csrd #esg #sustainability