Double materiality is a concept that helps organisations and institutions (including financial institutions) to recognise that they must manage and take responsibility for the actual and potential adverse impacts of their decisions on people, society and the environment.
The concept acknowledges that risks and opportunities can be material from both a financial and non-financial perspective.
The concept is incorporated into sustainability reporting legislation such as the EU’s Corporate Sustainability Reporting Directive (CSRD) and reporting standards such as Global Reporting
Initiative (GRI).
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IEMA is the membership body for environment and sustainability professionals