EU Issues Guidelines on Other Information Disclosures

On June 26th, the EU issued non-binding guidelines to large companies required to begin making disclosures on environmental matters, social and employee-related aspects, as well as respect for human rights, anti-corruption and bribery issues, and diversity on the boards of directors.

The directive (Directive 2014/95/EU) takes effect in 2018 for financial information for fiscal year 2017.

According to the EU’s June 26 press release, the purpose of the guidelines, which are not mandatory, is to introduce applicable companies of the “current best practices and most recent developments including lessons from the UN Sustainable Development Goals, the Paris Climate Agreement, the industry-led Task Force on climate-related financial disclosures, and the on-going work of the High-Level Group on Sustainable Finance established by the European Commission in the context of the Capital Markets Union initiative.”

A copy of a provisional version of the guidelines are available here.

 

Advertisements

About docjonz

I am an Associate Professor of accounting at Hofstra University in Hempstead, NY. Additionally, I have more than 30 years of professional accounting experience in various capacities including auditing, accounting standard setting and corporate accounting policy.
This entry was posted in Accountant, Corporate Governance, IFRS, Sustainability and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s