EU: a draft directive on non-financial reporting could be adopted soon

European Commission should adopt a draft directive aiming at improving transparency in businesses, particularly in the areas of environment, human rights and sustainable development, and on ways to combat corruption. The bill will also contain a chapter on the obligation for businesses to spread information about their diversity policy in their managing bodies. (Ref. 120675)

The Directive followed two observations made by the Commission: 1) “Only 2,500 out of 42,000 large European Companies publish CSR or sustainability reports” and 2) information published by the companies “may not adequately address the needs of users.”  “Market incentives appear insufficient or uneven,…