Ever Sustainable Director, Martha McPherson and Sustainability consultant, Marigold Melton recently took part in a fireside chat, hosted by Round Governance, where they discussed what CSRD and, ISSB and materiality mean for companies, and where the sustainability landscape is heading.
In today's rapidly evolving business environment, sustainability is no longer just a buzzword; it is a necessity for companies looking to thrive and make a positive impact.
The Corporate Sustainability Reporting Directive (CSRD) and the International Sustainability Standards Board (ISSB) are reshaping how businesses approach sustainability, emphasising transparency, accountability, and long-term value creation. But, understanding them and embracing them is no easy feat for businesses.
Key takeaways
Double Materiality is Key
CSRD mandates a double materiality assessment, which requires companies to evaluate both the impact of their activities on the environment and society, as well as the impact of these external factors on the business itself. Whether or not your company is mandated to report against CSRD, double materiality is a holistic approach that all companies should use to identify impacts, risks and opportunities.
Comprehensive Reporting Requirements
Under these frameworks, businesses are required to provide detailed disclosures on a wide range of sustainability topics, pushing them further then they have been before, which is requiring a lot of resource upfront. We are however excited to see how this increase in data collection and transparency pushes business to improve and take greater accountability over their sustainability strategies.
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Download the full PDF to gain a deeper understanding of CSRD and ISSB standards and how they can propel your sustainability strategy forward.
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