Materiality Assessment Implementation Guidance

December 22, 2023 EFRAG (The European Financial Reporting Advisory Group) has issued its draft EFRAG IG 1 Materiality Assessment Implementation Guidance for stakeholders feedback by 02 February 2024.

The document provides guidance for companies on implementing materiality assessment under the European Sustainability Reporting Standards (ESRS). It outlines the double materiality concept, covering both impact and financial materiality, and includes detailed steps for conducting materiality assessments.

The Materiality Assessment IG also addresses stakeholder engagement, setting thresholds, and reporting requirements. It serves as a comprehensive resource for organizations to align their sustainability reporting with ESRS, emphasizing transparency and relevance in sustainability disclosures.

To read the document click here.