[Guide] Understanding the EU Non-Financial Reporting Directive

[Guide] Understanding the EU Non-Financial Reporting Directive

The EU Non-Financial Reporting (NFR) Directive (2014/95/EU) on the Disclosure of Non-Financial and Diversity Information entered into force in December 2014. In an effort to increase transparency and accountability among businesses trading in the EU, the Directive requires companies to produce corporate social responsibility disclosures on matters relating to the environment, social and employee issues, workplace diversity, human rights, and anti-bribery and anti-corruption (ABAC).

Given the broad nature of the rule, it can be difficult for companies to know whether they are in scope and to fully understand the Directive’s requirements. Recognizing this, Assent Compliance is pleased to release a new three-page guide to the EU NFR.

Understand your obligations under the EU Non-Financial Reporting Directive. Download the guide here.

How Does the EU Non-Financial Reporting Directive Impact Your Company?

Under the Directive, companies in scope are required to include corporate social responsibility (CSR) data in their annual disclosures. This highlights the need for a more broad data collection program for CSR information from supply chains that can collect this information proactively, like the solution offered by Assent Compliance.

Whether this applies to your company or not, it is important to remember that your purchasers could, in fact, be in scope. If you do business with companies in Europe, you will likely be asked to detail any efforts to mitigate environmental and human rights risks in your supply chain so your customer can complete their disclosure.

For helpful details on your obligations under the EU NFR Directive, download the no-nonsense guide here. Still need more information? Contact our experts at info@assentcompliance.com.