The European Commission published a new update on the Non-financial reporting by large companies’ regulation proposal. EU law requires large companies (more than 500 employees) to disclose non-financial information on their social and environmental impact.
This initiative amends requirements in the Non-Financial Reporting Directive to ensure that investors, civil society and other interested parties have access to the information they need, while not imposing excessive reporting obligations on companies. It encourages companies to develop a responsible approach to business.
The European Commission opened the feedback period regarding this roadmap until the end of February 2020. The submitted views will be taken into account for further development and fine tuning of the initiative.