Advocacy for Credible Non-Financial Reporting

In 2014, an amendment to the Accounting Directive was adopted by the European Parliament and the Council regarding the disclosure of non-financial and diversity information by certain groups: organisations with more than 500 employees, companies on the stock market and organisations of public interest.

EU Member States should transpose the rules on non-financial reporting into national legislation by 06.12.2016. The European Commission prepares non-binding guidelines on the methodology for reporting non-financial information by the end of 2016.

 

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In this context, one of the most probable scenarios is that large corporations will lobby to moderate the requirements of the transposition of the Directive to the national legal framework. This means that companies will most likely keep reporting on charitable activities, electricity and water use in the headquarters and other non-core business related indicators, as it is usual in most of the Corporate Social Responsibility (CSR) reporting.

 

 

Examples of relevant indicators to society and stakeholders would be: use of tax havens, wage differences, relationships to political parties, raw material and production indicators, etc.

For that reason, the Global Hub for the Common Good is leading the setting up of a platform to advocate for credible Non Financial Reports Europe-wide.
We attach a presentation of the project and we are glad to invite you to actively participate. We consider your opinion highly relevant to co-create a collaborative Position Paper about this issue.
Once we have gathered the responses of the organizations interested in participating in the project, we will get in touch to start with the process.
Get in touch and let’s collaborate on this project to increase corporate transparency in Europe!
Project presentation:
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