A group of leading organisations in the field of sustainable finance, including Frank Bold, issued a joint statement with recommendations for the upcoming revision of the Non-Financial Reporting Directive*.
The current COVID-19 crisis has shown how economic, social and environmental aspects are interlinked and the need to put in place the right tools and incentives for each stakeholder from both public and private sector to play its role. The European Commission indicated in its recently published consultation on a renewed Sustainable Finance strategy that companies should prioritise key stakeholders’ long-term interest. We see the revision of the Non-Financial Reporting Directive as an important element of achieving this.
As a group of stakeholders with different backgrounds, but a common interest in sustainable finance, we believe the following matters are instrumental in the upcoming revision of the NFRD to make a leap forward in improving the quality, comparability and consistency of information on environmental, social and governance matters:
You can read the full statement, which includes further details for each of the above recommendations below.
*The group is formed by ACCA, Accountancy Europe, Association of German Banks (BdB), CDSB, EFAMA, Frank Bold, IIGCC, Schroders, ShareAction, WWF who came together in an informal platform for collaboration and discussion on crucial EU policy issues on sustainability. The statement was also supported by BNP Paribas AM and Candriam (while not being part of the informal group itself).
This short video explains everything you may have ever wanted to know about the Reconstruction of the State, but were afraid to ask.
New reporting rules require certain large EU companies to include in their management report a non-financial statement. These companies need to begin gathering and auditing information in order to be prepared to publish the required information within good time after the end of the 2017 financial year. Frank Bold recently published a short guide on the Non Financial Reporting Directive that identifies who will be affected and explains how to comply with the new reporting requirements.
On September 28, Frank Bold will hold the Creating Sustainable Companies Summit gathering leading thinkers, businesses, policymakers and civil society in Brussels to chart the way to the next generation of corporations and future of corporate governance.
