In this episode, we’re thrilled to have Julia Nitz, an expert in ESG reporting and sustainability, joining us to demystify one of the hottest topics in sustainability right now: double materiality, a key concept from the Corporate Sustainability Reporting Directive (CSRD).
Key Takeaways:
1/ Double Materiality Explained – Julia breaks down double materiality into its two core components: -Impact Materiality: What’s the company’s effect on the environment and society? -Financial Materiality: What are the environmental, social, and governance (ESG) risks and opportunities for the company itself? It’s about seeing sustainability both as a responsibility and a business imperative.
2/ Why Double Materiality Matters – The CSRD introduces a forward-thinking approach by focusing not only on how financial health is impacted by ESG factors but also how companies impact the world around them. Unlike the U.S. single materiality approach, this dual focus adds depth to sustainability assessments.
3/ Starting with a Baseline – Julia emphasizes that for companies starting their CSRD journey, it’s crucial to first assess where you are. Conducting a double materiality assessment helps set a foundation, determining which sustainability factors are most relevant for the company.
4/ The Realities of Double Materiality Assessments – From her experience leading workshops at NEMAC, Julia shares the "aha moment" of realizing how detailed and collaborative the process can be. Getting cross-departmental input helps uncover diverse perspectives on what really impacts the business and the world.
5/ CSRD is an Opportunity, Not Just a Compliance Headache – For many, CSRD feels overwhelming due to its complexity. But Julia sees it as an opportunity to drive genuine sustainability transformation, especially as companies move from reactive reporting to proactive innovation. The CSRD also fosters transparency, allowing companies to benchmark against competitors more effectively.
6/ It’s Not About Perfection—It’s About Progress – Julia reassures companies that the process doesn’t need to be perfect from day one. Instead, it's about evolving your approach over time, starting with what you know, and adjusting as you gather more data and experience.
Follow Julia Nitz: https://julianitz.com/
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Listen to the podcast:
-Apple Podcast; https://podcasts.apple.com/fr/podcast/mastering-double-materiality-and-csrd-how-businesses/id1702723132?i=1000670417495&l=en-GB
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