Directive amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups
The Council of the EU on 29 September 2014 definitively adopted the directive concerning the disclosure of non-financial and diversity information by certain large undertakings and groups.
This text will affect around 6,000 major companies in the EU which will be required each year to publish a non-financial statement (link to the press release). It targets "public interest entities whose average number of employees during the financial year exceeds 500 on their balance sheet date" without any stipulation of turnover, contrary to the initial draft of the European Commission. They will be required each year to publish a non-financial statement containing information "on the impact of the undertaking's activities relating to, as a minimum, environmental, social and employee matters, including social dialogue, and respect for human rights and the fight against corruption". The directive does not envisage any sanctions, but a company "which does not pursue policies in relation to one or more of those matters" will have to provide "a clear and reasoned explanation for not doing so".
This text will affect around 6,000 major companies in the EU which will be required each year to publish a non-financial statement (link to the press release). It targets "public interest entities whose average number of employees during the financial year exceeds 500 on their balance sheet date" without any stipulation of turnover, contrary to the initial draft of the European Commission. They will be required each year to publish a non-financial statement containing information "on the impact of the undertaking's activities relating to, as a minimum, environmental, social and employee matters, including social dialogue, and respect for human rights and the fight against corruption". The directive does not envisage any sanctions, but a company "which does not pursue policies in relation to one or more of those matters" will have to provide "a clear and reasoned explanation for not doing so".
Date of publication
29 September 2014
Available language
English | French | German | Spanish
Country/countries concerned
European Union
Categories
Legislation
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