Extra-financial reporting: Europe is strengthening its requirements

Posted on Nov 24, 2021 at 7:01 amUpdated Nov 24, 2021, 9:38 AM

The planets are lining up in Brussels to take corporate reporting to a new dimension. Against the backdrop of the “green deal” and the rise of green finance, in March the Commission proposed a revision of the 2014 NFRD (non-financial reporting directive) to significantly strengthen the weight and place of extra-financial information. in transparency obligations.

The text begins its examination on Wednesday in the European Parliament under good auspices. In his report of draft amendments for the Legal Commission, Frenchman Pascal Durand (Renew), rapporteur for the text, explains why he supports the project. It is necessary, according to him, to push companies to “communicate extra-financial data with the same rigor and the same reliability as financial data”, as they too become an element of competitiveness. “The environmental, social and governance performance indicators will make it possible to orient their activities more effectively towards a resilient and more sustainable model,” he defends.

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