CSRD & the double materiality assessment
The EU Corporate Sustainability Reporting Directive (CSRD) can at first sight seem like a daunting and time-consuming task. However, it is indeed a comprehensive exercise but with a systematic approach, vast experience, and the right tools in place, we can help reduce complexity and make it an effective assessment.
We take pride in the fact, that it is us as partners who conduct all the work ourselves/personally from deskwork analysis over interviews to workshops to ensure consistency and a high degree of professional insights along the way. No junior consultants or external partners are involved in the process. We assist customers in the double materiality assessment process from A to Z. Right from the initial dialogue to the final handover of the DMA and the initial GAP-analysis. We have no incentives to make the exercise bigger or more complex than necessary and we focus on shall before may – or in other words we know what is “need to do” and what is “nice to do” – and let the customer decide how comprehensive a task they wish to take on. We typically provide a full-service package but can also assist with certain steps in the process if your company wish to e.g., take on the stakeholder dialogue by itself.
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In simple terms, we systematically work us through the following steps:
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Establish internal project group and deskwork on value chain and due diligence
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Review longlist of ESG-topics
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Stakeholder dialogue and engagement (survey and interviews)
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Rating of sustainability impacts and financial risk and opportunities for each topic
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Decide on and apply thresholds
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GAP-analysis and datapoints
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Final handover and method description ready for limited assurance
The process typically takes between 3-6 months from start to final handover of the double materiality assessment. We have already assisted both listed companies, Danish companies with foreign subsidiaries and foreign companies with Danish affiliates in conducting a robust DMA across industries such as logistic, manufacturing, lifestyle and service providers.
Please feel free to give us a call or send us an e-mail if you have any questions.
