ARTICLE · 30 AUGUST 2024

What Is Double Materiality In ESG?

Grant Thornton

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The Hungarian Sustainability Act passed in December and the EU CSRD Directive require large companies to carry out a double materiality assessment covering their entire operations, but what does this mean?

HungaryCorporate/Commercial Law

Andras Balasfalvi-Kiss

A definition and overview of double materiality in sustainability and ESG

The Hungarian Sustainability Act passed in December and the EU CSRD Directive require large companies to carry out a double materiality assessment covering their entire operations, but what does this mean?

Why is double materiality assessment key?

The double materiality assessment plays a crucial role in optimising the allocation of resources to achieve CSRD compliance, while providing invaluable insights to shape the overall strategy of the company:

It helps identify significant business opportunities, risks, trends and brand characteristics.
It helps you decide which ESG issues and initiatives your company should prioritise.

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