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Brussels adopts guidelines for disclosure of non-financial information

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Brussels adopts guidelines for disclosure of non-financial information

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(BRUSSELS) - Guidelines on disclosure of environmental and social information were adopted Monday by the Commission to help firms disclose non-financial information in a consistent and comparable manner.

The aim of the new guidelines is to boost corporate transparency and performance, as well as encourage companies to embrace a more sustainable approach.

The EU executive says the guidelines will support companies in fulfilling their reporting obligations under current non-financial disclosure requirements and will promote 'smart company reporting'.

Appropriate non-financial disclosure is also an essential element to enable sustainable finance, says the Commission.

"Europe needs to take the lead in making economies greener and more sustainable," says EC vice-president Valdis Dombrovskis: "This is why we are today proposing flexible guidelines to boost corporate transparency across all sectors. By providing relevant information on their environmental and social credentials, companies are doing themselves a favour and helping their investors, lenders and society at large."

The adoption of the new guidelines will supplement the already existing EU rules on non-financial reporting (Directive 2014/95/EU).

Companies falling within its scope have to disclose relevant information on policies, risks and results as regards environmental matters, social and employee-related aspects, as well as respect for human rights, anti-corruption and bribery issues, and diversity on the boards of directors.

The EU Directive on disclosure of non-financial and diversity information by certain large undertakings and groups (2014/95/EU) entered into force on 6 December 2014.

The disclosure requirements for non-financial information apply to certain large companies with more than 500 employees. The Directive also gives companies significant flexibility to disclose relevant information in the way that they consider most useful, including in a separate report. Costs for companies associated with the Directive are commensurate with the value and usefulness of the information, and with the size and complexity of their business.

Directive on 2014/95/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups

General information on non-financial reporting


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