Double materiality is a hot topic in boardrooms these days, as senior executives and board directors grapple with rapidly changing fiduciary duties.The concept of “materiality” emerged early in the development of modern accounting and financial reporting practices.
At its core, materiality is a principle based on two related concepts. First, corporations should disclose the information that is significant, important, and relevant to stakeholders who use their reports to make decisions. Second, corporations need not disclose information that does not rise to the level of materiality. This approach allows for more efficient processes and clearer reporting, as unnecessary clutter is removed. Materiality, therefore, is an approach to “filter in” and “filter out” information, based on its relevance to report recipients.....
Chapter 1: WHAT - Overview of Double Materiality Materiality Background The Rise of ESG Reporting What is Materiality in ESG? What is Double Materiality? Real World Examples of Double Materiality The Challenge of Double Materiality
Chapter 2: WHY - Importance in Today’s Business World Strategic Importance Financial Performance Legal and Regulatory Compliance
Chapter 3: HOW - Implementing Double Materiality Double Materiality in ESG 8 Steps to Conducting a Double Materiality Assessment Take Action on Assessment Outcomes Conclusion
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