How is the new EU Directive on non-financial and diversity information going to affect your business?
Corporate and/or sustainability reporting made its first appearance in the early 2000s, when, respectively in 2007 and 2010, the Swedish and the South African governments introduced the legal requirement for state-owned companies and exchange listed businesses to publish their non-financial information along with the financial data.
Since then, corporate or sustainability reporting has made further steps, going from a voluntary encouragement to an expected and fundamental part of business, with the Sustainable Stock Exchange and the Singapore Exchange encouraging listed companies to be transparent about their environmental, social and corporate governance issues.
In 2013, the Accounting Directive 2013/34/EU required companies to publish management reports that integrated the financial and non-financial (environmental and employment matters) aspects of the business, stating that information on both financial and non-financial performance should have been included “to the extent necessary”, but without specifying how it had to be done.
And it`s here that the new European Directive comes to set a new starting point.
The EU’s laws on reporting are changing. New EU directive means that more than 6,000 companies across the EU have to be talking about non-financial practices in a more detailed way than ever before. Environmental risks, human rights, anti-corruption issues and more all have to be disclosed annually. Are you ready for this change? Are you affected by this change? Will you report against the UN Global Compact, or will you use ISO26000?
The latest of SustainIt’s bitesized briefings will help – we’ll talk about what the directive will mean, and how you can begin the process of making sure you’re able to meet your commitment for non financial reporting when the directive becomes law.
Book your free ticket now http://bit.ly/1L92raK