On January 28, 2011, Eurosif submitted its response to the EC Consultation on the disclosure of non-financial information by companies.
Summary: In the response, Eurosif reinforces its position on the following issues:
- Large listed and non-listed companies should be required to disclose non-financial information in their annual (management) reports; additionally, Eurosif recommends the adoption of ESG reporting recommendation guidelines for small and medium enterprises;
- Mandatory ESG reporting by companies should be based both on principles and key performance indicators (general for all economic sectors and sector-specific);
- The main scope of the legislation review should be the EU Accounts Modernisation Directive which currently favours only a “comply or explain
Download the full response here.