On February 26, COREPER, the group of diplomats representing the 28 Member States, adopted the compromise on the draft directive on non-financial reporting, negotiated between the European Parliament, the Council of EU Ministers and the Commission. This step could lead to the adoption of a text forcing listed companies and financial institutions with more than 500 employees to publish annual reports on their CSR policy.
The bill adopted on April 16, 2013 amends the 1978 and 1983 accounting directives, introducing the obligation for large businesses to report on their CSR policy in order to improve transparency (see article No. 130257).
Scope. This issue was the keystone of the compromise reached. The sales criterion was removed and quotation on the stock market was added. The compromise states that this new obligation only covers listed companies and financial institutions (banking, insurance) with more...
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