European Commission proposes mandatory CSR disclosure for large companies
by David Perchard, GlobalPSC Vice-President and Managing Director of Perchards Ltd
On 16 April the Commission adopted a proposal for a directive that will amend the Accounting Directives by requiring companies with more than 500 employees and either a balance sheet total of over EUR 20 million or a net turnover of over EUR 40 million, to include in their annual reports a non-financial statement containing information relating to environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters.
This would have to include a description of company policy in these areas, the results of these policies, the risks related to them and how the company manages those risks. Where a company does not pursue policies in relation to one or more of these matters, it would have to provide an explanation for not doing so.
See here for further information.