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The authors highlight how the requirements for corporate reporting in terms of sustainability matters have changed, underlining the main issues that require further attention by practitioners, researchers and legislators.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>This paper is based upon a historic analysis of European Union (EU) regulations in the field of non-financial and sustainability reporting and how these have changed over time. A conceptual comparison of different reporting concepts is presented, and changes in their relevance to the EU accounting framework are discussed as part of the historic analysis. Implications from corporate practice are derived from previous empirical findings from the EU Commission's consultations.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>The proposed change from non-financial to sustainability reporting within the EU affects more than simply the terminology used. It implies that a different understanding is needed of both the purposes of company reporting on sustainability matters and the aims of carrying out such reporting. This change was driven by the need and desire to appropriately interpret the principle of materiality set forth in the NFI Directive. However, the recent redefinition in the shift within the EU Commission's proposals presents considerable challenges\u2013and costs\u2013in practice.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Research limitations\/implications<\/jats:title><jats:p>Future research on the conceptualization and operationalization of ecological and social materiality, as well as on the use of this information by different stakeholder groups, is necessary in order to (a) help companies that are applying the reporting requirements in practice, (b) support the increased harmonization of the reports published by these companies and (c) fully assess the costs and benefits associated with the increase in reporting requirements for these companies.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Practical implications<\/jats:title><jats:p>Companies have to establish relevant reporting processes, systems and formats to fulfil the increasing number of reporting requirements.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>This paper outlines the historic development of the principle of materiality regarding mandatory non-financial or sustainability reporting within the EU. It outlines a shift in rationales and political priorities as well as in implications for European companies that need to fulfil the reporting requirements. In consequence, it describes appropriate interpretations of this principle of materiality under current and upcoming legislation, enabling users to apply this principle more effectively.<\/jats:p><\/jats:sec>","DOI":"10.1108\/jaar-04-2021-0114","type":"journal-article","created":{"date-parts":[[2021,12,11]],"date-time":"2021-12-11T02:24:29Z","timestamp":1639189469000},"page":"8-28","source":"Crossref","is-referenced-by-count":207,"title":["Double materiality and the shift from non-financial to European sustainability reporting: review, outlook and implications"],"prefix":"10.1108","volume":"23","author":[{"ORCID":"https:\/\/orcid.org\/0000-0001-8274-9338","authenticated-orcid":false,"given":"Josef","family":"Baum\u00fcller","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0934-5569","authenticated-orcid":false,"given":"Karina","family":"Sopp","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","published-online":{"date-parts":[[2021,12,14]]},"reference":[{"key":"key2022092213533135600_ref001","unstructured":"AASB (2014), \u201cStaff paper: to disclose or not to disclose: materiality is the question\u201d, available at: https:\/\/www.aasb.gov.au\/admin\/file\/content102\/c3\/RCSP_2-14_Disclosure_and_Materiality.pdf."},{"issue":"1","key":"key2022092213533135600_ref002","doi-asserted-by":"crossref","first-page":"49","DOI":"10.3905\/jwm.2021.1.130","article-title":"Sustainable investing: the black box of environmental, social, and governance (ESG) ratings","volume":"24","year":"2021","journal-title":"The Journal of Wealth Management"},{"key":"key2022092213533135600_ref003","unstructured":"Adams, C. 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