ESG principles and the concept of “double materiality” in sustainability governance and accountability

Company: Confindustria Bergamo

Tutor: Silvana Signori

The new European Corporate Sustainability Reporting Directive (CSRD) significantly expands both the borders of corporate reporting and the subjects required to report.

In fact, the disclosure obligations will follow the so-called principle of “double materiality” and will therefore include both the impacts of a company’s activities on the environment, on people and on society (insideout perspective) and the operative and financial risks to which a company is exposed as far as ESG (Environmental, Social and Governance) issues are concerned (outside-in perspective).

This research project aims to investigate how companies are preparing to respond to this important challenge in order to:

• Identify and map best practices in terms of:

.defining ESG strategies;

.measuring ESG risks and impacts;

.construction and analysis of double materiality matrix and related reporting;

• Monitor how companies engage stakeholders in identifying, assessing and measuring ESG risks, opportunities and impacts;

• Outline possible stakeholder engagement and accountability processes and models to support the transition to sustainable business models.