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EU Directive on disclosure of non-financial and diversity information published

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17 Nov 2014

The Directive on disclosure of non-financial and diversity information by large companies and groups addressing environmental, social, and governance (ESG) issues has been published in the Official Journal of the EU on 15 November 2014.

According to the new Directive, which was approved by the Council of the European Union in September 2014, large public-interest companies with more than 500 employees are required to disclose relevant and material environmental and social information in their annual reports. Disclosures shall be provided at group level, rather than by each individual company within a group.

Large listed companies will also be required to provide information on their diversity policy, covering age, gender, geographical diversity, and educational and professional background. Disclosures shall set out the objectives of the policy, how it has been implemented, and results.

The Directive enters into force on the twentieth day after its publication. Member States have to transpose the Directive into national law by 6 December 2016. The new provisions have to be applied to all undertakings within the scope of the Directive for the financial year starting on 1 January 2017 or during the calendar year 2017.

Please click for access to the full text of the Directive in the Official Journal (available in all languages of the EU).

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