Is a double materiality assessment required?
Short answer: No. A double materiality assessment is not mandatory in the VSME, but it is recommended as good practice[15].
The ESRS require a mandatory double materiality assessment that evaluates both impacts and financial relevance. The VSME drops this formal requirement. Companies should instead apply the “if relevant” principle and decide themselves whether certain data points apply[15]. Experts such as myclimate still recommend a streamlined double materiality check to identify which topics truly matter to the company and its stakeholders[15].