Materiality analysis and sustainability reporting in accordance with the Corporate Sustainability Reporting Directive (CSRD)
Now is the time to prepare
EU:s new directive the Corporate Sustainability Reporting Directive (CSRD) require about 50.000 companies to make disclosures on the risks and opportunities arising from social and environmental issues, and on the impact of their business on people and the environment.
The CSRD builds on the EU:s 2014 Non-Financial Reporting Directive (NFRD) by introducing more detailed reporting requirements and expanding the number of in-scope companies with the aim to improve transparency from corporate actors to stakeholders.
The new standards will apply for the first time for financial year 2024 for EU-incorporated companies subjected to the NFRD, with reports to be published in 2025.
The double materiality concept is a key element in sustainability reporting under the CSRD. We recommend organizations to familiarize themselves with the new legislation and standards and start analyzing their impacts, risks, and opportunities related to the new disclosures as outlined in the European Sustainability Reporting Standards (ESRS).
How Ethos can help
Navigating the global business landscape and CSRD compliance can be challenging - but it's crucial for companies committed to transparency and sustainable growth. As experts in sustainability, we provide science-backed advisory to help you every step of the way.
Our expert team provides tailored support to ensure your company meets the CSRD requirements with precision and clarity. We offer comprehensive services, including data collection and analysis, double materiality assessments, and the development and implementation of sustainability strategies and climate transition plans to help you exceed in your sustainability performance. With our guidance and capacity-building tools, you can confidently report on your environmental, social, and governance (ESG) impacts and elevate your business and employees' competence in sustainability.
Let us help you turn compliance into a competitive advantage.
We can:
Conduct a double materiality assessment
The double materiality assessment is designed to comprehensively assess your company's ESG impacts, risks, and opportunities. Its purpose is to evaluate:
• Impact materiality: The impacts your business has on the environment and society.
• Financial materiality: The impacts the environment and society have on the financial performance of your business.
Ethos helps you to conduct a double materiality analysis in accordance with the European Sustainability Reporting Standards (ESRS) for CSRD compliance and meaningful stakeholder engagement.
Develop a sustainability report
The CSRD sets standards for reporting requirements and methods to enhance transparency and comparability, enabling stakeholders to effectively evaluate companies' sustainability performance.
The role, responsibility, and competence of the board and the management team in sustainability must be described in the report.
CSRD requires ESG data to be submitted in a digital format and be subjected to "limited third-party assurance", meaning that an auditor will need to evaluate the data.
Starting in 2025, CSRD will mandate that businesses have an emissions reduction plan aligned with the Paris Agreement, aiming to reach net zero by 2050.
What you'll learn
The requirements of the double materiality assessment
How to apply the double materiality principle
How to prepare for CSRD
Get an introduction to the requirements of double materiality.
Download fact sheet
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