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Refrigerants, ESG, and the concept of Double Materiality
May 23, 2023 @ 8:00 am - 5:00 pm
Double Materiality involves the impact a company creates on the climate – and all aspects of ESG – with operational data at the center.
Double materiality is a carbon accounting practice that mirrors the concept of financial materiality. In essence, data should be disclosed if a reasonable person would consider it important or ”material.”
Your company’s climate-related impacts can be material and therefore require disclosure. Operationalizing the concept of double materiality is key to successful sustainability reporting.
View the webinar to learn more about:
- The Story of Double Materiality
- Direct Consequences on ESG Filings
- What your company is supposed to report
- The two dimensions: impact materiality and financial materiality
- How the concept applies to refrigerants
Reporting Protocols
- The EPA first publicly acknowledged that all refrigerants are vented in 2019.
- Compliance reporting requires tracking of leaks and maintenance only on systems 50 pounds and over (in the US).
- Sustainability reporting requires tracking of emissions on all systems.
- Double-materiality is central to the EC’s proposed Corporate Sustainability Reporting Directive (CSRD).
ESG & Materiality
- Financial Materiality: Evidence of impacts that are reasonably likely to affect value (beyond what is already recognized in financial reporting).
- Impact Materiality: Evidence of environmental impact from an entity’s operations, products, or services (including through the value chain).
- Double Materiality: Involves both impact and financial materiality perspectives (and their interactions).
