GRI - Understanding materiality can unlock accountability The basis of this overarching system has to be double materiality That is the only way to achieve the comparable and effective reporting needed to drive corporate accountability ” The GRI Perspective is a regular series, launched in January 2022, that dives under the surface of topical themes in the world of sustainability reporting
The double-materiality concept - Global Reporting Initiative The double-materiality concept as ‘guiding principle’ in the GRI Standards From climate change and biodiversity loss, to growing inequality, modern slavery, and scarcity of resources, our society and planet face the most significant challenges of all times The task of building a sustainable future is a shared responsibility for us all By doing business in a way that aligns long-term
Double materiality. The guiding principle for sustainability reporting Double materiality, in essence, reflects the new practical nature of sustainability reporting and the recognition that impact, and financial reporting are interconnected and that reporting ideally should be one holistic process For more information on taking this approach, please contact policy@globalreporting org
Impact materiality: a pre-condition for financial resilience Embracing impact materiality is a necessity for measuring financial resilience According to Peter Paul, disclosing corporate sustainability impacts is becoming essential to financial decision-making
‘Double materiality strengthens EU’s competitiveness’ In a letter to the European Commission by GRI’s newly appointed CEO Robin Hodess, she outlines that double materiality strengthens Europe’s competitiveness and delivers the decision-useful data required by investors and other stakeholders
CSRD ESSENTIALS - Global Reporting Initiative materiality ’ They will also have to gauge how sustainability issues, in turn, affect their bottom-line or ‘sustainability-related financial materiality ’ This will help make economic activity more ethical and clea
The materiality madness: why definitions matter Financial materiality and impact materiality together under the umbrella of ‘double materiality’ are the only relevant forms of materiality, with both perspectives needed in a two-pillar structure - for financial and sustainability reporting - with a core set of common disclosures and each pillar on an equal footing
DOUBLE MATERIALITY: KEY TAKEAWAYS FROM THE HIGH-LEVEL POLICY DIALOGUE DOUBLE MATERIALITY: KEY TAKEAWAYS FROM THE HIGH-LEVEL POLICY DIALOGUE Tuesday 29 June 2021 On 29 June, GRI convened a multi-stakeholder dialogue to foster a common understanding on the inclusion of the concept of double materiality in the European Commission’s Corporate Sustainability Reporting Directive (CSRD) legislative process
GRI - Standards - Global Reporting Initiative The global standards for sustainability impacts The GRI Standards enable any organization – large or small, private or public – to understand and report on their impacts on the economy, environment and people in a comparable and credible way, thereby increasing transparency on their contribution to sustainable development In addition to companies, the Standards are highly relevant to many