This article is Free, but to access more of our content, you can sign up for a no strings attached 28-day free trial here.
The majority of sizeable European companies will have to publish audited sustainability data as part of a massive revamp of the EU’s Non-Financial Reporting Directive (NFRD), published today.
Plans for a newly-named Corporate Sustainability Reporting Directive (CSRD) include amending its related legal texts to use the term ‘sustainability information’ in place of ‘non-financial information’. Last year, ‘non-financial’ was voted the second most unpopular phrase in sustainable finance by RI readers.
Under the EU’s new rules, the number of firms obliged to report sustainability data will shoot up from 11,700 to more than 49,000, covering three quarters of all EU-based companies. Both listed and private entities will be covered.
“Today's proposal will extend the scope of these requirements to include all large companies, …