Exploring Double Materiality & CSRD: Lessons from Nederlandse Loterij
On October 16, 2024, we had the opportunity to dive into the practical application of the Corporate Sustainability Reporting Directive (CSRD) with a case study from Nederlandse Loterij. Led by ESG Analyst Soma Housein, the webinar explored key topics such as the introduction of CSRD, its impact on EU-listed companies, and the importance of double materiality assessments (DMA).
The CSRD, part of the European Green Deal, focuses on improving transparency by mapping out sustainability risks, opportunities, and impacts across environmental, social, and governance (ESG) areas. The webinar detailed the CSRD’s timeline for compliance, ranging from 2024 for large companies to 2028 for certain non-EU entities.
The Double Materiality Assessment (DMA) was highlighted as a crucial tool to ensure compliance, evaluating both financial and non-financial impacts. The discussion included a practical example of gap analysis, focusing on the extent to which organizations are meeting their reporting obligations.
Key takeaways from the session:
- Start Early: It’s vital to involve stakeholders early on to identify potential gaps and address them in time.
- Foster Awareness: Executive buy-in and inter-departmental preparedness are key for successful CSRD implementation.
- Mind the Gap: Having knowledgeable consultants involved from the assessment stage to the implementation phase ensures consistency.
- Audit and Reporting Tools: A strong audit trail and IT systems are crucial for accurate data collection and reporting.
This session underscored the importance of proactively adapting to the new sustainability requirements, setting a solid foundation for future success.
To access the recording of this webinar and the presentation, ensure your lottery has signed up to the EL Environmental Initiative. Contact Melissa Jacquerioz at European Lotteries Association for more information. If your lottery is not an EL or digitalRG.com member, contact hello@digitalrg.com for more information.