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Double Materiality Assessment

The ideal cornerstone for a sustainability strategy

What is a Double Materiality Assessment?

As regulatory, environmental, social and economic pressures mount, it’s crucial for businesses to focus on what drives value for their business and stakeholders.

A double materiality assessment evaluates sustainability from two angles: the impact of a business on people and the environment (impact materiality), and the financial relevance of environmental, social, and governance (ESG) risks to the business itself (financial materiality). By identifying material risks and opportunities, a double materiality assessment helps shape your sustainability strategy and maximise both your impact and business value.

While mandatory for those organisations that fall under scope of the Corporate Sustainability Reporting Directive (CSRD), the assessment provides valuable insights for all companies looking to strengthen their sustainability approach.

Benefits of a Double Materiality Assessment

In addition to regulatory compliance, the benefits of carrying out a double materiality assessment are vast, and include:

  • Builds the foundations to manage sustainability risks and growth opportunities
  • Ensures spend and resource are allocated to the right areas to drive value to stakeholders
  • Strengthens ESG disclosures for investors and stakeholders
  • Unlock green finance and reduce costs through resource efficiency
  • Scenario planning to future-proof your business for long-term resilience

Our Double Materiality Assessment process

With increasing reporting requirements, it can be challenging to know where to focus your efforts and how to integrate this into your sustainability strategy. 

At Acclaro Advisory, we have developed a tailored methodology for conducting double materiality assessments. While we customise our approach to meet your specific business needs, our process follows these key steps:

Analyse economic and market activities, corporate structure, and industry benchmarks to establish a foundation for assessment.

Define your value chain across upstream, downstream and internal operations. Identify key business relationships and stakeholder groups.

Identify both actual and potential ESG impacts, as well as strategic risks and opportunities.

Evaluate the significance of the identified impacts, risks and opportunities through stakeholder engagement

Prioritise impacts, opportunities and risks and rank material issues based on thresholds

Implement ongoing governance structures and operational processes

Why choose Acclaro?

At Acclaro Advisory, our expert consultants are highly skilled in conducting double materiality assessments and work closely with you to tailor the service to fit your exact needs. With deep expertise in CSRD topics and decades of experience guiding companies through complexities of sustainability transformation, we empower you to drive meaningful impact today while working towards your future ambitions.

“Acclaro provide excellent advice based on sound knowledge and experience. With their proactive and personal approach, they make everyone feel valued and engaged”

Arcus FM

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Want to find out more?

Get in touch today and one of our experienced consultants will be happy to talk you through our double materiality assessments in more detail.