- The EPA first publicly acknowledged that all refrigerants are vented in 2019.
- Compliance reporting requires tracking of leaks and maintenance only on systems 50 pounds and over (in the US).
- Sustainability reporting requires tracking of emissions on all systems.
- Double-materiality is central to the EC’s proposed Corporate Sustainability Reporting Directive (CSRD).
ESG & Materiality
- Financial Materiality: Evidence of impacts that are reasonably likely to affect value (beyond what is already recognized in financial reporting).
- Impact Materiality: Evidence of environmental impact from an entity’s operations, products, or services (including through the value chain).
- Double Materiality: Involves both impact and financial materiality perspectives (and their interactions).