DoubleMateriality.org

Investment Consultants 🇬🇧 go for Double Materiality "shift the emphasis of pension scheme sustainability requirements from single materiality towards #doublemateriality. Initially we will seek to ensure that the climate-related metrics required for TCFD reporting incorporate sufficiently forward-looking elements that encourage trustees to take real-world action, using DWP’s review of the TCFD requirements and/or adoption of a transition plan approach to enable this." Investment Consultants Sustainability Working Group, UK Investment Consultants Sustainability Working Group - United States (ICSWG-US) WTW Mercer Aon Cardano Barnett Waddingham Apex Group Ltd LCP bfinance Department for Work and Pensions (DWP) The Pensions Regulator Financial Conduct Authority FSB Task Force on Climate-related Financial Disclosures (TCFD) Claire Jones Iona Young

48% of 4,551 assessed companies globally say their approach is based on #doublemateriality. "As decision-makers seek to prioritize and focus where they can create positive impacts and limit negative impacts, investors and regulators are increasingly expecting them not to treat the two sides of materiality in isolation. Guidance from bodies such as the EFRAG and GRI recognizes that the interrelation between external and internal impact is key." Link in the comment Global Reporting Initiative (GRI) EFRAG S&P Global S&P Global Sustainable1 Cornis Van Der Lugt , María Andérez CFA ESG , Matt MacFarland World Economic Forum

Actuaries warn policy makers about the Earth system 🌏 Yet another demonstration of the impasse of Financial Materiality, which by definition is always behind the times. They are rather silent, yet their role is decisive in projecting risks (financial and non financial). As we know, we have to think in terms of biomes, climate being just one factor. The global mandate for financial stability undoubtedly needs to be adapted. Financial Stability Board (FSB) IAIS - International Association of Insurance Supervisors European Insurance and Occupational Pensions Authority (EIOPA) Oliver Bettis, Georgina Bedenham, Oliver Hampshire, Jesse F Abrams Ajay Gambhir Erica Thompson Aled Jones Jo Paisley Doug Baird, Laurie Laybourn Luke Kemp Michael Obersteiner The London School of Economics and Political Science (LSE) Karen Ellis ClientEarth Institute and Faculty of Actuaries University of Exeter #esg #sustainability #csrd #climatechange #omnibus #doublemateriality

Visualize why Double Materiality shakes things up 🌏 Even if the G20 agenda talks about sustainability, this is reinterpreted to fit a definition of "public interest" that only serves the interests of investors, to the detriment of stakeholders and the planet. Through an arrangement of organizations with which we are all familiar, the objectives are reprocessed, resulting in a mismatch between the top and the bottom. One can easily visualise how policy-making is caught up in something broader. Double materiality actually reconstructs the alignment between the Global objectives and policy-making objectives. The ISSB/IFRS standards are just one piece of a larger puzzle that one need to keep in mind. Flags means Headquarters. Stockholm Resilience Centre IPCC United Nations Environment Programme Finance Initiative (UNEP FI) Global Reporting Initiative (GRI) EFRAG Andreas Rasche Richard Gardiner Gabriella Lovas Alexandre Rambaud Jean-Marc Jancovici Philippe Diaz Emmanuel Faber Carol Adams Principles for Responsible Investment Katharine Hayhoe Lubomila Jordanova David Carlin Tim Mohin #esg #sustainability #climatechange #csrd #doublemateriality

Europe is in the process of being persuaded to abandon #DoubleMateriality. This must not happen. We are doing everything we can to ensure that people working on the Omnibus understand what is at stake. 🇪🇺 Europe must not crack at the finishing line otherwise it will be impossible to return to it or take any autonomy over the slightest sustainability initiative. The losers would not just be Europeans (businesses and citizens), but all the countries that see Double Materiality as a promising step forward in terms of sustainability. This group was created in 2021 to support Double Materiality on a global level, particularly in anticipation of the considerable forces that will have to be mobilized to move away from the Single Materiality approach. And we were right, because the forces of business as usual are enormous. Sustainability must be defended by all those who understand that we cannot sacrifice the future for short-term business interests. See : https://lnkd.in/eRivmjgr #csrd #esg #sustainability #esgreporting

First CSRD Reports Are Here! To help the community stay up to date, Sustainability Reporting Navigator created a publicly available Google Sheet where anyone can contribute and track CSRD reports as they emerge. 🔗 Add to the list or explore it here: https://lnkd.in/e9WyHW2r Maybe Deloitte KPMG Mazars EY PwC can upload some reports? "Let’s crowdsource these reports and build a valuable resource together." Maximilian Müller EFRAG European Securities and Markets Authority (ESMA) Global Reporting Initiative (GRI) BusinessEurope WBCSD – World Business Council for Sustainable Development #CSRD #SustainabilityReporting #ESG #Benchmarking

The very heart of the problem: the meaning of sustainability is misunderstood.... 😳 It's easy to assume that the people currently in charge in 🇨🇵 France don't know what compliance law is, and that it's extra-territorial in nature. So it makes sense that they're ignoring the consequences of what they're doing. European companies are going to take a beating, simply because of unfair competition from other jurisdictions that will move forward on sustainability.... We all knew that the difference between CSR and ESG was already difficult to understand for many people because of the mobilizing concepts introduced into the discourse, but France was a pioneer in this field, with the introduction of its Vigilance Law in 2017 and its extra-financial report (DPEF). Context : French authorities sent a whishlist to Brussels. Direction générale du Trésor EFRAG European Commission Business & Human Rights Resource Centre UN Trade and Development (UNCTAD) Permanent Court of Arbitration (PCA) Richard Gardiner Abrial Gilbert-d'Halluin Andreas Rasche Alexandre Rambaud Gabriella Lovas Philippe Diaz #csddd #csrd #omnibus #sustainability

A useful 📊 XLS for Double Materiality Assessment in the TIC industry TIC Council release of its Guidelines for DMA is designed to support alignment with the CSRD and the ESRS. These voluntary guidelines offer a comprehensive framework to identify IROs across the TIC sector. TIC means Testing, Inspection and Certification. Link in the comment. Bureau Veritas Group Apave BSI Intertek DEKRA SGS FILIANCE Safety Assessment Federation (SAFed) UKAS WSCT( WORLD STANDARDIZATION CERTIFICATION & TESTING) ISO - International Organization for StandardizationInternational Auditing and Assurance Standards Board (IAASB) Hanane Taidi Marc Boissonnet Alberto Monje Gama

💥 🇲🇫 French large companies mobilise to fight against a setback for #CSRD “many companies have already made significant progress in aligning with these frameworks,” C3D said. “A moratorium or rollback risks fostering a culture of delay rather than encouraging further adoption.” Collège des Directeurs du Développement Durable (C3D) Amundi EDF L'Oréal Carrefour EFRAG https://lnkd.in/eVrtWAmC

Impact Materiality is gaining ground across many countries👇 "None of them explicitly mention #doublemateriality. The main reason, in my view, is that they weren’t in the room when this reporting structure or terminology was devised. Still, they’re all moving toward increased disclosures, and it’s gone from voluntary to mandatory across most emerging markets." "Japan, Australia, Canada, the UK, and Singapore are running a close second. While they haven’t explicitly put “double materiality” in their disclosures, it’s inferred." "India is including some references to double materiality. Chinese companies will make certain environmental and social disclosures, but without explicit mention of double materiality. Saudi Arabia, Turkey, Brazil will come out in a year or two." Link in the comment. Morningstar Morningstar Sustainalytics PitchBook Ron Bundy Hilary Wiek, CFA, CAIA Matthew Gray (马飞) Gabriel Presler  Global Reporting Initiative (GRI) EFRAG Financial Conduct Authority Principles for Responsible Investment #csrd #esg #csr #sustainability