The double materiality analysis is important in the Corporate Sustainability Reporting Directive (CSRD) and plays a key role in providing insight into the impact, opportunities, and risks of sustainability. The CSRD will be effective from the 2024 financial year for large listed companies, and the analysis helps to understand the company’s impact on the environment and how sustainability aspects can affect its success. The Netherlands Authority for the Financial Markets (AFM) conducted an investigation of 29 companies and found that they are finding the new requirements complex and are making necessary adjustments. The AFM has developed 10 navigation points to support companies in implementing the double materiality analysis. The AFM will supervise the handling of the CSRD in annual reporting for the 2024 financial year.
Source Taxence
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