Double Materiality Assessments

The next frontier in sustainability reporting

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Double materiality assessments (DMAs) have gained increasing attention in recent years as organisations’ impacts on the world around them are subject to new levels of consumer and regulatory scrutiny.

In the EU, the Corporate Sustainability Reporting Directive (CSRD), with the concept of Double Materiality at its heart, requires around 50,000 companies to report non-financial information in a consistent and comparable manner, aligned to the EU Taxonomy.

These changes present an important opportunity to bring greater rigour and credibility to disclosure and action on impacts, opportunities, and risks. But keeping a focus on that value in the face of increasingly complex and mandatory reporting processes can be a challenge.

What is a Double Materiality Assessment?

The term “double materiality” refers to how social and environmental information disclosed by a company can be material both in terms of its implications for the organisation’s financial value, as well as their external impact on society and the environment.

‘Materiality’, in this sense, refers to the issues, both financial and sustainability-related, that are most important for an organisation to address. In other words, companies should not only consider how their decisions will affect their bottom line but also how they will affect society and the environment.

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Double Materiality Solutions

In sustainability reporting, assessing materiality has evolved in response to stakeholders wanting greater transparency and accountability from companies about their non-financial impact and performance.

With mandatory sustainability regulation continually tightening, we’re expecting to see double materiality become business as usual for all organisations, regardless of size.

Discover how we can support businesses to understand materiality through an impact, financial and double materiality lens, with a focus on building capacity in the organisation to support integrated sustainability management.

CSRD Solutions

Sustainability Reporting Solutions

Assessing organisational context to identify long-list of ESG issues

Shortlisting issues and collecting stakeholder input

Synthesising and prioritising issues to develop final-list and materiality report

Preparing internal stakeholders to conduct future assessments aligning to best practice

Guidance

Guide to Double Materiality Reporting

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CSRD: Exploring the Latest Double Materiality Updates

Our approach to Double Materiality

At Anthesis we follow a four-step double materiality
process, as set out below:

Step 1: Understand the context

Begin by researching the company’s business model and sustainability landscape. This includes:

Mapping out key stakeholder groups
Understanding the full value chain
Identifying sustainability-related dependencies, impacts, and trends that could shape the business over time

This foundational step ensures the assessment is grounded in the company’s specific operating context.

Step 2: Identify impacts, risks and opportunities

Using insights from step one, develop a longlist of potentially relevant sustainability topics.
For each topic, consider:

Outside-in (financial materiality): How sustainability issues may impact the company’s financial performance and long-term value

Inside-out (impact materiality): How the company affects people and the environment

Step 4: Complete the double materiality assessment

Conduct a threshold-setting exercise to determine which topics are truly material.
Then:

Prepare a report and supporting documentation to meet CSRD and ESRS compliance needs
Document the final list of material topics, along with their related impacts, risks, and opportunities
Develop a summary materiality matrix or overview

Case studies

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Delivering Space42’s Inaugural Sustainability Report

Anthesis helped Space42 deliver its first post-merger Sustainability Report, meeting ADX deadlines and setting a strong ESG foundation for growth.

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Delivering CSRD Readiness Assessment and ESG Strategy Development for Envea

Envea is a French company specialising in providing environmental management solutions.

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Developing ESG Portfolio Program for Sherpa Capital

In early 2023 Anthesis was appointed by Sherpa Capital to develop its ESG portfolio program and support portfolio companies.

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Conducting ESRS Gap Analysis for Holland & Barrett

See how Holland & Barrett completed an ESRS gap analysis—identifying key compliance areas and strengthening sustainability reporting.

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Delivering GAP Analysis to Comply with the CSRD for Fagor Group

See how Fagor Group bridged the gap to CSRD compliance—aligning governance, reporting and sustainability practices across operations.

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Delivering Materiality and Sustainability Reporting for Guess

See how GUESS integrated materiality into sustainability reporting—strengthening stakeholder trust and driving focused ESG performance.

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Conducting a Materiality Assessment for The North Face

See how The North Face conducted a materiality assessment—aligning priorities to enhance ESG strategy and stakeholder impact.

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Implementing a European Sustainability Roadmap for a Fashion Retailer

See how a global fashion retailer implemented a European sustainability roadmap—aligning strategy, operational change, and impactful results.

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Materiality and Corporate Social Responsibility Reporting for Roche Colombia

See how Roche Colombia enhanced materiality and CSR reporting—aligning priorities with stakeholder needs and driving ESG transparency.

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Enhancing Corporate Responsibility Reporting for Alliance Data

See how Alliance Data advanced corporate responsibility and reporting—streamlining ESG disclosures and stakeholder trust.

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Manage risks

DMA can help companies to identify and manage risks. For example, a company that is not taking into account the potential impact of climate change on its business is at risk of losing out to competitors that are.

Build trust

Double materiality can help companies to build trust with stakeholders. Investors, customers, employees, and the public are increasingly demanding that companies be transparent about their sustainability performance. By embracing double materiality, companies can demonstrate their commitment to sustainability and build trust with these key stakeholders.

Sieze opportunities

Double materiality can help companies to identify and seize opportunities. For example, a company that is investing in sustainability initiatives may be able to attract new customers and partners, or reduce its costs.