SERVICES
Double Materiality Assessment
Harness Double Materiality for Sustainable Growth and Strategic Advantage
In an increasingly complex business environment, sustainable success requires more than financial performance alone. Double materiality provides a comprehensive approach, assessing both the financial impacts on your business and your business's broader impact on the environment and society. At Snaplinc, we help companies incorporate this dual lens into their core strategies, ensuring compliance with regulations like the CSRD. By leveraging double materiality, we enable businesses to not only meet stakeholder expectations but also enhance resilience, reduce risks, and gain a competitive edge in a rapidly evolving market.
Why Is Double Materiality Essential for Your Business?
Assesses financial impacts and a company’s effects on the environment and society.
Ensures compliance with regulations like the EU’s CSRD.
Identifies risks, manages stakeholder expectations, and boosts transparency.
Builds resilience while addressing environmental and social challenges.
Offers a competitive edge by meeting investor and consumer priorities.
Double Materiality Assessment
A Double Materiality Assessment involves four essential steps to develop compliant internal controls. While the ESRS sets required elements, businesses must tailor the process to their specific needs, ensuring compliance and alignment with evolving guidance, such as IG 1.
Identify Business Activities and Value Chain: Map key operations, suppliers, and customers with potential sustainability impacts or risks.
Identify Impact, Risks, and Opportunities (IROs): Highlight ESG factors affecting the business and external stakeholders to guide materiality evaluation.
Determine Material IROs: Prioritize IROs based on their financial and societal significance.
Finalize and Document Findings: Record material IROs for transparent reporting and regulatory compliance.
Embedding Double Materiality for Sustainable and Strategic Growth
✓ Incorporating Double Materiality meets sustainability standards and stakeholder expectations.
✓ Assesses financial risks alongside environmental and societal impacts.
✓ Enhances resilience, transparency, and regulatory compliance, including ESRS.
✓ Simplifies integration of material risks into business strategy.
✓ Mitigates risks, builds trust, and fosters sustainable growth.
