Double materiality suggests that companies should assess the impact of external environmental and social factors on their operations (external materiality) and evaluate the impact of their activities on the external environment and society (internal materiality).

The IFRS Foundation is a not-for-profit, public interest organization established to develop high-quality, understandable, enforceable, and globally accepted accounting and sustainability disclosure standards. Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and Ithe International Sustainability Standards Board (ISSB).

The International Accounting Standards Board (IASB) state that “information is material if omitting, misstating or obscuring it could reasonably be expected to influence the decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.”

Strategic planning refers to an organization's process of defining its direction and making decisions on allocating its resources to pursue this strategy. This typically includes developing the organization's vision, mission, objectives, and strategies to achieve them over time.

The Financial Stability Board (FSB) is an international body that monitors and makes recommendations about the global financial system. It was established in 2009 by the G20 countries in response to the global financial crisis. The FSB's primary mandate is to promote financial stability by coordinating and enhancing the effectiveness of regulatory, supervisory, and other financial sector policies.

The emissions resulting from employees driving to work generally fall under scope 3 emissions rather than scope 1 emissions.

Metric used to assess the energy efficiency and viability of an energy source or energy-producing process. EROI measures the ratio between the amount of usable energy acquired from a particular energy source and the amount of energy invested to obtain, produce, or harness that energy.

The Sustainable Finance Disclosure Regulation (SFDR) is a European regulation introduced to improve transparency in the market for sustainable investment products, to prevent greenwashing and to increase transparency around sustainability claims made by financial market participants. It imposes comprehensive sustainability disclosure requirements covering a broad range of environmental, social & governance (ESG) metrics at both entity- and product-level. The main provisions of the SFDR have been applicable as of 10 March 2021, with a statutory instrument known as a Delegated Act containing more precise disclosure standards yet to be adopted by the European Commission.