It is the assessment determining a CSRD statement's contents. It combines 2 perspectives: impact materiality, meaning the effects of the company's activity on the environment and society (greenhouse gas emissions, water consumption and working conditions), and financial materiality, meaning the risks and opportunities these issues create for its business model (physical and transition climate risks and access to finance). An issue is included if significant from either perspective, and only the included issues are detailed in the ESRS statement.
Read the source article: CSRD: who is in scope after Omnibus? The 2026 SME guide