What New ESG Approach ‘Double Materiality’ Means — and Why JPMorgan Is a Fan

Should a business or an investment fund care only about making money, or should it also worry about the environment, social justice and good governance (ESG)? Can the two goals overlap? Do they already? These questions get at the heart of something called “double materiality.” While the concept has been built into new European regulations, it has yet to make significant inroads in the US — even as Wall Street behemoths like JPMorgan Chase & Co. embrace the idea. At issue is what information should be mandatory to report, and who decides? 

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