The European Commission is gathering information to evaluate the impact on smaller businesses in the supply chain of the legal requirement
This requirement is imposed on certain large companies to include a non-financial statement as part of their annual public reporting obligations.
The so-called Non-financial Reporting Directive identifies four sustainability issues:
social and employee issues
human rights, and
bribery and corruption
There is also a requirement that companies disclose information about their business model, policies (including due diligence processes), outcomes, risks and risk management, and Key Performance Indicators (KPIs) relevant to the business. It does not introduce or require the use of a non-financial reporting standard or framework, nor does it impose detailed disclosure requirements such as lists of indicators per sector
Your input will help the European Commission to estimate costs for SMEs of replying to requests about social and environmental information coming from larger companies to which they supply goods or services as well as requests coming from financial institutions. The European Commission will use the information gathered when considering possible revisions to social and environmental reporting requirements of the Non-Financial Reporting Directive.
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This survey closes Friday 27th May 2020
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