Summary report on the EC consultation on updating the non-binding guidelines on non-financial reporting

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12 Jun 2019

The European Commission (EC) has published a report summarising the responses to the draft supplement to its non-binding guidelines on non-financial reporting with specific reference to climate-related information.

In most cases the consultation revealed a difference of opinion between on the one hand report preparers and on the other hand supervisory and enforcement authorities and users of reported information. In general, preparers argued for fewer recommended disclosures, while non-governmental organisations and supervisory and enforcement authorities supported most of the proposals contained in the consultation document and in some cases suggested that they be strengthened in various ways. Investors and financial sector companies were generally supportive of the proposed disclosures as far as investee companies were concerned, but also argued that they themselves would find it difficult to meet the expectations expressed in the consultation document until disclosure by investee companies improved.

Please click to access the full report on the EC website.

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