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Document 32014L0095

Disclosure of non-financial and diversity information by large companies and groups

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Disclosure of non-financial and diversity information by large companies and groups

SUMMARY OF:

Directive 2014/95/EU: Disclosure of non-financial and diversity information

SUMMARY

WHAT DOES THIS DIRECTIVE DO?

It requires certain large companies to disclose relevant non-financial information to provide investors and other stakeholders with a more complete picture of their development, performance and position and of the impact of their activity.

KEY POINTS

The directive applies to certain large companies and groups with more than 500 employees.

Information

Such companies are required to give a review of policies, principal risks and outcomes, including on:

environmental matters;

social and employee aspects;

respect for human rights;

anti-corruption and bribery issues;

diversity on boards of directors.

If companies do not have a policy on one of these areas, the non-financial statement should explain why not.

Guidelines

Companies are given the freedom to disclose this information in the way they find useful or in a separate report. In preparing their statements, companies may use national, European or international guidelines such as the UN Global Compact.

The European Commission will produce non-binding guidelines on how to report non-financial information by December 2016.

Subsidiary companies

A subsidiary company is not required to produce a statement if the information is included in the report of its parent company (i.e. the company that controls the management and operation of the subsidiary company).

FROM WHEN DOES THIS DIRECTIVE APPLY?

The directive applies from 5 December 2014. EU countries must incorporate the directive in their national law by 6 December 2016.

BACKGROUND

ACT

Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups (OJ L 330, 15.11.2014, pp. 1-9)

RELATED ACTS

Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, pp. 19-76)

The successive amendments to Directive 2013/34/EU have been incorporated into the original text. This consolidated version is of documentary value only.

last update 12.11.2015

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