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EU companies to report on social, environmental, supply chain and human rights impacts - update on EU non-financial reporting reform

After weeks of negotiations, EU government representatives reached a last minute compromise on the reform on non-financial reporting during the Coreper meeting last week. This compromise, between EU member states and the European Parliament, means that the European Commissions’ draft Directive for large companies to start reporting non-financial information will go to final vote in April. 

Does my organisation qualify for CRC Phase 2?

The Carbon Reduction Commitment (CRC) has launched its next phase - Phase 2 - which will run from 1 April 2014.  Phase 1 participants, as well as organisations qualifying for the first time, must register and pay registration fees for Phase 2 by 31 January 2014. 

It is the participant’s responsibility to determine whether it qualifies for each CRC phase. Even if your organisation qualified for Phase 1, it must still reassess qualification for Phase 2. Please see below answers to some common CRC Phase 2 questions.

Are you reporting against India's National Voluntary Guidelines?

The National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs) are a set of guidelines to help the corporate sector improve CSR reporting in India. Greenstone’s Enterprise software now includes emissions factors from the Government of India’s ‘CO2 Baseline Database for the Indian Power Sector’¹

This offers Greenstone clients the option to use nationally recognised emissions factors compiled from all grid-connected power stations in India. The emissions factors offer different emissions factors for each Indian state based on India’s two main electricity grid systems: the Integrated Northern, Eastern, Western, and North-Eastern regional grid (NEWNE) and the Southern Grid. For each grid, the main emission factors are calculated by the Central Electricity Authority in accordance with relevant Clean Development Mechanism (CDM) methodologies.

What are the global trends in non-financial reporting? KPMG survey

The recently published KPMG International Survey of Corporate Responsibility Reporting 2013, found that non-financial reporting is an upward trend, with almost three quarters of the largest companies in 41 countries worldwide producing Corporate Responsibility (CR) reports every year.

Almost 80 percent of the 4,100 companies issuing CR reports globally use the Global Reporting Initiative’s (GRI) Sustainability Reporting Guidelines, according to KPMG.