On 29 September, the General Affairs Council adopted without discussion the directive on the disclosure of certain non-financial data by some companies. The formal adoption came after the informal agreement on the text with the European Parliament earlier this year. Once the directive is implemented in the Member States, which is to happen by 2017, certain large enterprises with more than 500 employees, mainly banks and other financial institutions and firms with large public impact, will need to incorporate in their annual reports information on matters such as diversity of their boards and management, respect for human rights, environmental protection and anti-corruption measures. The statements will need to include the enterprises´ policies regarding these matters, their outcomes and the possible risks. In 2018, the Commission will consider the inclusion of country-by-country tax information disclosure under similar conditions. These measures aim at ensuring both economic and social sustainability of EU businesses, with the lowest possible administrative burden.
17th June 2024
19th September 2024