With the implementation date of the EU’s Non-Financial Reporting (NFR) Directive now less than six months away, effective as of 1 January 2017, companies across the EU-28 that fall within its scope are preparing themselves for its arrival.
In a nutshell, Directive 2014/95/EU, amending Directive 2013/34/EU, requires certain companies – i.e., public and private companies of a certain size, as determined by number of employees (upwards of 500), balance sheet total and revenues – to disclose to authorities information relating to policies, risks and outcomes as regards environmental matters, social and employee aspects, respect for human rights, anticorruption and bribery issues and boardroom diversity.