‘Double materiality strengthens EU’s competitiveness’
Published date: 20 February 2025
Letter to the European Commission from GRI CEO Robin Hodess
GRI has urged the European Commission to maintain the double materiality principle – with reporting that addresses impacts, risks and opportunities – at the heart of the Corporate Sustainability Reporting Directive (CSRD), as reflected through the new European Sustainability Reporting Standards (ESRS).
In a letter to the European Commission by GRI’s newly appointed CEO Robin Hodess, she outlines that double materiality strengthens Europe’s competitiveness and delivers the decision-useful data required by investors and other stakeholders. The letter is addressed to EC President Ursula von der Leyen, Vice-President Stéphane Séjourné, Valdis Dombrovskis (Commissioner for Economy, Productivity, Implementation and Simplification) and Maria Luis Albuquerque (Commissioner for Financial Services).
The EU has been a driver of high-quality sustainability reporting standards. Maintaining this leadership is crucial for achieving global convergence, a level playing field, and meaningful impact. Dropping double materiality would set Europe back to 2014, before the NFRD. We strongly urge the Commission to maintain double materiality and alignment between the ESRS and international standards. Any dilution would undermine global comparability and hinder informed capital allocation.”
Robin Hodess, GRI CEO