6.3 Steps for Complying with the Relevant Requirements
To address the different requirements and regulatory developments in a structured manner, companies should first determine which of the legal requirements described above apply to them based on geographic scope and identify any potential gaps compared with their current disclosure obligations through a regulatory gap analysis. As a next step, they should perform a materiality assessment, either a double materiality assessment or a financial materiality assessment depending on the relevant standard, evaluate their data management approach and establish a robust reporting framework. As a final step, companies should develop the reporting structure, draft the report and obtain external assurance. Sustainability matters are commonly reported either in a standalone sustainability report or as part of an integrated report.