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JURI approves draft law on additional disclosure requirements for social and environmental concerns

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18 Dec 2013

The Legal Affairs Committee of the European Parliament (JURI), which is the committee responsible for changes in the legal requirements around company reporting, approved new draft legislation on Tuesday which will require certain large companies to provide additional information on social and environmental issues in their annual reports. The members of the Committee also voted to recommend the European Commission to consider proposing legislation in 2018 for country-specific reporting of profits, taxes and subsidies.

The EU Commission proposed amendments in this area in April 2013, which were put before JURI in November 2013, where they were combined with the opinions of several other committees. JURI has now mandated the Rapporteur Raffaele Baldassarre to start negotiations with the Council.

Currently, it is expected that the first reading in the European Parliament will occur on 10 March 2014.

Click here for the European Parliament press release (link to European Parliament website).

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