ANNOUNCEMENTS
This study explores the implementation of a double materiality assessment (DMA) within the framework of the Corporate Sustainability Reporting Directive (CSRD) for a major alcohol producing company. The primary objectives are to elucidate the concept of double materiality, demonstrate its practical application through a detailed case study, and identify the challenges and opportunities inherent in its implementation.
Double materiality encompasses both financial and impact materiality, offering a comprehensive view of a company's sustainability performance. The methodology employed involved an extensive desktop review and stakeholder engagement to identify and prioritize material topics. The resulting materiality matrix categorized 37 subtopics, with 19 identified as material from both financial and impact perspectives, 6 from an impact perspective only, 2 from a financial perspective only, and 10 deemed immaterial.
The study identified several challenges in the DMA process and suggested significant areas of improvement for better compliance with regulatory requirements. It also covers recommendations for integrating DMA results into business strategy to enhance sustainability reporting, align with regulatory standards, and foster sustainable development.
This study contributes valuable insights into the practical application of double materiality, offering a roadmap for organizations to implement robust sustainability assessments and meet evolving regulatory demands. The findings emphasize the importance of comprehensive data collection, standardized assessment methodologies, inclusive stakeholder engagement, and integration of sustainability into strategic decision making.
Keywords: Double Materiality, CSRD, Sustainability, Alcohol Industry, ESG.
