Understanding the Importance of Double Materiality in European Sustainability Reporting Standards

This chapter explores the new European sustainability reporting standards (SRS), highlighting its foundation on TCFD core concepts and the significance of assessing both financial and non-financial impacts. It emphasizes that materiality assessments drive the disclosures in the SRS, enabling companies to comprehend their sustainability impacts, risks, opportunities, and reporting gaps, while also addressing the importance of interoperability in the development of the SRS.