Preparing a tailored double materiality assessment

We delivered a structured double materiality assessment (DMA) following European Financial Reporting Advisory Group (EFRAG) guidance. Beginning with an overview of Cedo’s operations, we then completed extensive desk-based research on each CSRD European Sustainability Reporting Standards (ESRS) topic.

We engaged a wide range of key internal and external stakeholders, whilst considering the needs of ‘silent’ stakeholders. This process enabled us to identify specific impacts, risks, and opportunities (IROs) that illustrate Cedo’s impact on people and planet and the impact on Cedo’s operations. Each IRO was assessed as positive or negative, actual or potential and short- or long-term, alongside five parameters of Scale, Scope, Irremediability, Likelihood and Magnitude. Topics scoring above the materiality threshold were classified and linked to their respective disclosure requirements under CSRD.

Finally, we worked with Cedo to write the company’s first CSRD aligned sustainability report, structured in line with ESRS guidance. This included as many mandatory Data Requirements (DR’s) as current data availability allowed, while flagging gaps for future data collection ahead of the 2028 CSRD mandatory compliance deadline.

• As a result of its first DMA, Cedo has an informed a CSRD-aligned disclosure report that outlines which data points are needed, and where gaps remain.
• The 2025 voluntary sustainability statement, provides a foundation for future reports and has helped build awareness and capacity internally.
• Our process ensured that the DMA output aligned with strategic and operational priorities, helping Cedo to mitigate its biggest impacts and financial risks while also leveraging opportunities – helping ensure future resilience and leveraging sustainability in creating value.