An Impact Materiality Assessment is a strategic process to help you determine the impacts your business has on the environment and society. It is also known as an ‘inside-out’ approach. A key part of this process involves engaging with your stakeholders to rate their importance of ESG issues. Starting with a list of relevant material topics, each topic is evaluated based on three key dimensions: Scale, scope and irremediability. This assessment directs your efforts toward the most pressing ESG areas, based on how likely they are to cause harm. These are the areas where your actions can reduce risks and have the most meaningful and positive impact.
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Double Materiality:
A 360° view of impacts, risks & opportunities
“Companies that shortcut the double materiality process may be exposed to compliance risk... Performing a thorough materiality assessment can save your company time and resources over the longer term.”
PwC US (Source)
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"We are thrilled to collaborate with Ansarada on their Double Materiality Assessment software—a significant advancement for sustainability reporting that aligns with both current and evolving standards."
Sebastian Dürr, Co-founder of NordESG and Drova Partner Consultant
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What is an Impact Materiality Assessment?
What is a Financial Materiality Assessment?
A Financial Materiality Assessment is a process to determine how external sustainability issues could impact your business financially. It is also known as an ‘outside in’ approach. This assessment measures and ranks potential economic effects of ESG issues on your company. In a Financial Materiality Assessment, you’ll evaluate your preliminary material ESG issues using a risk framework. This evaluation allows you to prioritize these issues according to their residual risk and financial significance. Through this process, you can strategically allocate resources to address the risks with the greatest financial impact. It helps align sustainability initiatives with business goals, ensuring that efforts in sustainability are also managing financial risks and driving financial performance.
What is a Double Materiality Assessment?
A Double Materiality Assessment is a comprehensive approach to understanding both the impact of your business on society and the environment and the financial implications of these impacts. With this assessment, you can determine and rank all sustainability impacts, financial risks, and opportunities associated with ESG issues. This process aligns these elements with the priorities and views of your stakeholders, enabling the development of a comprehensive strategy that integrates seamlessly into your core operations and business strategy. A Double Materiality Assessment is recommended over just doing a Financial Materiality Assessment or an Impact Materiality Assessment. It provides a full picture of ESG risks and opportunities, considering both the risks the company faces and the risks it poses to the environment and society. It builds more stakeholder trust, aids in regulatory compliance, improves your strategic planning, risk management, execution and results.
What is the Corporate Sustainability Reporting Directive (CSRD)?
The Corporate Sustainability Reporting Directive (CSRD) is a legislative proposal by the European Commission designed to enhance and standardise sustainability reporting practices across the European Union. Unlike other global standards, Europe's approach covers a wide range of ESG dimensions. What makes it truly unique is its comprehensive double materiality approach, which is mandatory for all companies that fall within CSRD’s scope. The CSRD will impact over 50,000 companies, with significantly more expected to comply over the next 5-10 years. The implementation and reporting deadlines are dependent on a company’s size, revenue and asset value. The Directive seeks to help investors, consumers, organisations, and other stakeholders to accurately assess a company’s sustainability performance, ultimately putting sustainability reporting on an equal footing with financial reporting.
FAQ
"A Double Materiality Assessment can give organisations in all sectors the strategic intelligence and foresight to be more future prepared, innovative and agile, with a more engaged workforce."
Elisabet Lagerstedt, Founder and Director of Future Navigators®; Author of Better Business Better Future; Nordic B Leader
Double Materiality:
A 360° view of impacts, risks & opportunities
Turbocharge our software with an
ESG consultant
80%
Up to
of spend to establish your sustainability/ESG strategy is focused on high-value outcomes - not manual work and assessments.
faster results compared to traditional methods.
future proof and long-term value generating.
Up to
90%
100%
"We are thrilled to collaborate with Ansarada on their Double Materiality Assessment software—a significant advancement for sustainability reporting that aligns with both current and evolving standards."
Sebastian Dürr, Co-founder of NordESG and Drova Partner Consultant
Needs to show solutions for all other aspects of CSRD compliance
Fully comply with CSRD
- Dedicated DMA software
- Network of advisors & consultants
- NordESG templates and questionnaires
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Will you be compliant by the deadline?
Strategy
Diagnose your ESG maturity & materiality focus areas. Generate a fit-for-purpose and commercially viable strategy & roadmap.
Metrics and targets
Risks and opportunities
Governance
You already have what it takes to
easily and confidently comply with CSRD
All leading sustainability standards can be boiled down to four business fundamentals. A Double Materiality Assessment will turn these into value multipliers while allowing you to report and disclose on progress.
DOUBLE MATERIALITY ASSESSMENT
Set, measure, and track your ESG metrics and targets in alignment with leading frameworks and standards.
Manage risks critical to your business processes with full visibility. Build resilience and keep your customers protected.
Provide the crucial evidence that you are taking care of ESG. Maintain roles and responsibilities through workflow task management.
You already have what it takes to confidently comply with imminent sustainability standards
How can business leaders rush to solve this issue
in time and avoid costly penalties?
Double Materiality:
A 360° view of impacts, risks & opportunities
What the experts say
CSRD non-compliance is not worth the risk:
A robust DMA is your strongest path forward
Without a proper Double Materiality Assessment as your foundation, your entire CSRD compliance journey is at risk. Which path will you take?
Better, faster compliance outcomes
“We notice that the ‘sense of urgency’ is not yet present everywhere in business. And yet for just about all companies covered by CSRD, it is high time to start preparing the reporting and, more precisely, the double materiality assessment... January 1, 2025, is much closer than people think, so waiting comes with risks.”
EY (Source)
"A Double Materiality Assessment can give organisations in all sectors the strategic intelligence and foresight to be more future prepared, innovative and agile, with a more engaged workforce."
Elisabet Lagerstedt, Founder and Director of Future Navigators®; Author of Better Business Better Future; Nordic B Leader
What another expert says
“Double Materiality Assessments enable an efficient allocation of resources needed to achieve CSRD compliance and provide indispensable insights for shaping company strategy.”
PwC Netherlands (Source)
"A Double Materiality Assessment can give organisations in all sectors the strategic intelligence and foresight to be more future prepared, innovative and agile, with a more engaged workforce."
Elisabet Lagerstedt, Founder and Director of Future Navigators®; Author of Better Business Better Future; Nordic B Leader
WHAT THE EXPERTS SAY
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European corporates still underestimate the scope of work involved in the DMA process. Time-pressed professionals are overcoming the challenge with surprising ease, thanks to our DMA software solution.
You already have what it takes to confidently comply with imminent sustainability standards
DMA is the crucial first step of your CSRD journey
Be prepared to spend up to 60% of your CSRD/ESRS compliance journey on a DMA.
Done properly with purpose-built software, a DMA can amplify and enhance your efforts at every subsequent stage while saving you time and cost.
Double
materiality
assessment
Data
collection &
disclosures
Audit & assurance
Reporting
Diagnose your material issues from financial, societal and planetary perspectives by conducting robust Financial Materiality and Impact Materiality Assessments with automated software.
Done right, your DMA will help you narrow down your data to within the right scope. Save time and cost, and allocate resources effectively.
A proper DMA will enhance audit quality, ensuring a most robust basis for audit opinions and assurance.
A DMA ensures the most comprehensive reporting with a 360° view of risks, impacts and opportunities.
2
3
4
1
Scope just right
Time and cost savings
Risks
reduced
Resources allocated effectively
Most comprehensive reporting
Confidence in compliance
Boost your core growth strategy
Scope too wide or too narrow
Slow, manual processes
Unnecessary cost and errors
Poor resource allocation
Subpar reporting
Risk of non-
compliance
Missed strategic opportunities
Quality DMA
Subpar DMA
Subpar DMA
Quality DMA
Done properly with purpose-built software, a DMA can amplify and enhance your efforts at every subsequent stage while saving you time and cost.
Confidently comply with CSRD in time for the deadline
Start your Double Materiality Assessment today for free.
Fast, simple, cost-effective DMA
Simplify your Double Materiality Assessment to save time, cost and reduce risk.
A proper Double Materiality Assessment (DMA) is crucial for CSRD compliance. Act now with our fast, simple, and cost-effective DMA software, and maximise the benefits at every step of your CSRD compliance journey.
Deal preparation, beautifully designed data rooms, ironclad security, AI automation & insights, unlimited users and outstanding support. Some of the reasons why leading companies choose Ansarada.
A Double Materiality Assessment is the critical foundation of CSRD compliance
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Simple and cost-effective. Confidently complete a Double Materiality Assessment
Meet regulation and standards while crafting a sustainable business strategy. Identify impacts, risks, and opportunities with our Double Materiality Assessment software.
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Software that simplifies the four components
of a Double Materiality Assessment
Automated top-down discovery & focus:
Narrow down 40+ potential ESG issues into those relevant to you with our smart profiling engine, powered by MSCI, GRI, SASB and ESRS data.
Confidently move forward in alignment with leading standards:
Our comprehensive library has topics pre-populated from leading frameworks like ESRS, GRI and SASB.
We automatically shortlist the right ESG issues for your business.
It's like checking the weather before you go out.
01 Top down
Software that simplifies the four components of a Double Materiality Assessment
01 Top Down
Increase trust through transparency:
Your assessment process, findings and strategic priorities are validated with stakeholders, increasing advocacy and adoption.
Seamless reporting:
The software will generate a comprehensive report that will form the foundation of your sustainability strategy.
Bring your core business and stakeholders along on the journey.
Consider it a team sport, where everyone has a position to play.
02 Bottom up
02 Bottom Up
03 Impact Materiality
Understand your company's most critical impacts on people and the planet.
Prioritise effective action:
The scale, scope and irremediability for each impact is ranked, ready for stakeholder communication and strategic execution.
Understand your impact:
Positive and negative ESG impacts across your value chain are analysed, considering different time horizons.
03 Impact Materiality
Uncover commercial benefits:
Business opportunities associated with each ESG issue are identified and quantified.
Proactively identify risks across your
value chain:
Potential ESG-related risks are assessed, quantified and visualised in our modern risk matrix.
Understand global risks and opportunities that affect your company.
04 Financial materiality
04 Financial Materiality
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