EC consultation on disclosure of non-financial information by companies

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22 Nov 2010

The Services of the Internal Market and Services Directorate General of the European Commission are conducting a public consultation in order to gather stakeholders' views on ways to improve the disclosure by enterprises of non-financial information (e.g. social and environmental).

In recent years, there have been calls to improve the comparability, reliability, and relevance of information disclosed by enterprises. A better focus on sustainability issues by companies and investors could help European companies respond to, and derive business opportunities from, long-term global challenges, such as increased global competition, resource shortages, climate change, and the fight against poverty. Better disclosure of social and environmental information could enhance the accountability of enterprises, and so contribute to higher levels of trust in business on the part of citizens. On the other hand disclosure of more non-financial information may unduly increase the administrative burden of companies, adding to the length of annual reports which are already considered by many to be too long.

In this context, the EC is conducting the consultation that can be accessed here.

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