14. In all ESRS:
(a) the term "impacts" refers to positive and negative sustainability-related impacts that are connected with the undertaking’s business, as identified through an impact materiality assessment (see section 3.4 Impact materiality). It refers both to actual impacts and to potential future impacts.
(b) The term "risks and opportunities" refers to the undertaking’s sustainability-related financial risks and opportunities, including those deriving from dependencies on natural, human and social resources, as identified through a financial materiality assessment (see section 3.5).
Collectively, these are referred to as "impacts, risks and opportunities" (IROs). They reflect the double materiality perspective of ESRS described in section 3.
15. Throughout ESRS, the terms that are defined in the glossary of definitions (Annex II) are put in bold italic, except when a defined term is used more than once in the same paragraph.
16. ESRS structure the information to be disclose
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