We have recently rolled out a new update in the Coolset CSRD platform, in line with EFRAG guidelines. In this article, we would like to give you an update on this and share follow-up steps.
This update ensures that each relevant impact is captured at the appropriate level in the double materiality assessment, guaranteeing that all necessary information is included in the final ESRS report. By aligning the assessment with the impact level, we ensure a more accurate and comprehensive evaluation of material issues.
What have we updated?
EFRAG (the organization responsible for the double materiality assessment and the ESRS framework) has clarified that clearly material impacts do not require an evaluation of their scale, scope, irremediability, or likelihood (refer to paragraph 86 of their implementation guidance for more details).
Previously, we raised this question at the sub-topic level, but it has now been refined to focus on the impact level, ensuring a more consistent approach. See image below.
What are the next steps for you?
1. Please check the results section of the double material assessment environment in Coolset
2. Check your clearly material sub-topics and assess what sub-topics are included in this list.
3. Use the 'clearly material' sections in one of the four impact types to migrate this answer.
Once we are confident that all answers have been migrated, we will remove the 'clearly material' question on sub-topic level.
We will happily do this together during a call, please find a moment in Jeroen's agenda here.
For questions, please reach out to [email protected] [email protected]!