Disclosing non-financial information responsibly
30 June, 2017
Guidelines on disclosure of environmental and social information were adopted last Monday by the Commission to help firms tackle non-financial information in a consistent and comparable manner, the EU press service reported. The aim of the new guidelines is to boost corporate transparency and performance, as well as encourage companies to embrace a more sustainable approach. They will supplement the already existing EU rules on non-financial reporting.
“Europe needs to take the lead in making economies greener and more sustainable,” VP Valdis Dombrovskis said. “We are 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.”
According to the Commission, the guidelines will support companies in fulfilling their reporting obligations under current non-financial disclosure requirements and will promote 'smart company reporting'. Companies falling within the scope of the new directives have to disclose relevant information on policies, risks and results as regards environmental matters, social and employee-related aspects, as well as anti-corruption and bribery issues.