Two distinct perspectives, financial materiality and environmental/social materiality has been put together in a framework to assess every company’s impacts, risks and opportunities. This is Double Materiality Assessment (DMA) and it is a key component of the Corporate Sustainability Reporting Directive (CSRD)
Financial Factor
The maritime industry faces evolving regulations and compliance costs, impacting profitability. Stricter rules from the IMO and the EU’s Fit for 55 policies can increase expenses. Understanding these financial impacts helps companies plan ahead, minimize risks, and leverage incentives for sustainable practices.
Environmental and Social Factor
Double materiality is crucial in the maritime industry due to its significant environmental footprint. Companies must assess their impact on for instance marine ecosystems through emissions, oil spills, chemicals, and ballast water discharges. Reporting on these operations provides a clear view of environmental damage, offering a chance to invest in greener technologies.
Financial Materiality:
How sustainability risks and opportunities affect a company's financial performance.
Impact Materiality:
How the company’s activities impact the environment, society, and broader stakeholders.
Your responsibility
DMA in maritime reporting assesses financial and environmental/social impacts, risks and opportunities. Implementing this assessment ensures regulatory compliance and supports decarbonization goals. Reporting on maritime operations showcases your commitment to sustainability and responsibility.
· Guidance & Templates: We provide clear tools to help you organize and understand your impacts, risks and opportunities.
· Expert Support: Whether you need full support or just assistance in specific areas, our experts work with you to ensure accuracy and compliance.
By working with Metizoft, you can confidently navigate the DMA process and show your commitment to sustainability. Reach out today and we will set up a meeting and take your ESG reporting to the next level.