New law 11/2018 that came into force on 29 December 2018 transposes the EU Directive on non-financial disclosure (2014/95) and introduces the requirement for companies to disclose non-financial information on the social and environmental impact of their businesses and to publish, on an annual basis, summaries of their strategies and the impacts of the initiatives they undertake to correct any identified imbalances (c.f. article No. 8721). In addition Spain’s legislature also introduced new transparency requirements pertaining to employment, salary changes and gender pay gaps, working organization, and social dialogue.
Requirement to disclose verifiable and comparable figures. With this new legislation, public limited, and limited liability companies will be required to disclose information on the social and environmental impact of their businesses and to provide relevant verifiable and comparable figures in order to be able to measure and monitor the impact these companies have on the environment.
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