Materiality Assessments in Corporate Sustainability and Financial Reporting: Connectivity, Practices, Processes, and Challenges.

There are three approaches to materiality that are being adopted by sustainability reporting standards.
The Global Reporting Initiative takes an impact materiality approach.
However, the International Sustainability Standard Board suggests a financial materiality approach, while the European Commission and EFRAG seek to operationalize both impact materiality and financial materiality through their concept of double materiality.