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CDSB | First Steps: Corporate climate and environmental disclosure under the EU Non-Financial Reporting Directive

This review assembled evidence of reporting practices on environmental matters in the first year of reporting under the EU NonFinancial Reporting Directive (NFRD). The review further explored opportunities for incorporating relevant aspects of the Task Force on Climate-related Financial Disclosures, (TCFD) recommendations into the NFRD and associated guidance so that reporting practices that serve both sets of requirements are consolidated. Both the NFRD and TCFD recommendations ofer authoritative requirements on environmental and climaterelated reporting through the mainstream financial report. The Commission is undertaking a fitness check of the corporate reporting framework in Europe, with findings expected in summer 2019. This review should also inform the new Parliament and Commission as they set priorities for 2020 and beyond.

This review assembled evidence of reporting practices on environmental matters in the first year of reporting under the EU Non Financial Reporting Directive (NFRD). The review further explored opportunities for incorporating relevant aspects of the Task Force on Climate-related Financial Disclosures, (TCFD) recommendations into the NFRD and associated guidance so that reporting practices that serve both sets of requirements are consolidated.

Both the NFRD and TCFD recommendations offer authoritative requirements on environmental and climate related reporting through the mainstream financial report. The Commission is undertaking a fitness check of the corporate reporting framework in Europe, with findings expected in summer 2019. This review should also inform the new Parliament and Commission as they set priorities for 2020 and beyond.

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