{"id":2103,"date":"2014-04-26T12:35:06","date_gmt":"2014-04-26T10:35:06","guid":{"rendered":"http:\/\/bcsdh.hu\/?p=2103"},"modified":"2014-04-26T12:35:06","modified_gmt":"2014-04-26T10:35:06","slug":"gri-celebrates-new-era-for-non-financial-information-disclosure-in-the-eu","status":"publish","type":"post","link":"https:\/\/bcsdh.hu\/en\/news\/gri-celebrates-new-era-for-non-financial-information-disclosure-in-the-eu\/","title":{"rendered":"GRI celebrates new era for non-financial information disclosure in the EU"},"content":{"rendered":"

The European Parliament adopted the long-awaited directive on the disclosure of non-financial and diversity information by certain large companies.<\/p>\n

\u200b \u201cThis vote is a victory for transparency and this is a great day for the future of sustainability reporting,\u201d said Teresa Fogelberg, Deputy Chief Executive, Global Reporting Initiative (GRI). This agreement demonstrates the EU\u2019s strong commitment to corporate transparency and sustainability \u2013 supporting smart, sustainable and inclusive growth, and paving the way for a sustainable global economy.\u201d<\/p>\n

Exactly one year from the launch of the legislative proposal by European Commissioner for Internal Market and Services, Michel Barnier, and after extensive negotiations between the three European bodies, today\u2019s vote was the last step in the process.<\/div>\n
\nThe directive, which adopts a report or explain approach, introduces measures that will strengthen the transparency and accountability of an estimated 6000 companies in the EU. These so-called \u2018Public interest entities\u2019 with more than 500 employees will be:<\/div>\n
<\/div>\n
\n\n\n\n\n\n
\u200b\u2022<\/td>\n\u200bRequired to report on environmental, social and employee-related, human rights, anti-corruption and bribery matters<\/td>\n<\/tr>\n
\u200b\u2022<\/td>\n\u200bRequired to describe their business model, outcomes and risks of the policies on the above topics, and the diversity policy applied for management and supervisory bodies<\/td>\n<\/tr>\n
\u200b\u2022<\/td>\n\u200bEncouraged to rely on recognized frameworks such as GRI\u2019s Sustainability Reporting Guidelines, the UNGC, the UNGP on Business and Human Rights, OECD Guidelines, ISO 26000 and the ILO Tripartite Declaration*<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
<\/div>\n
\u201cGRI is proud to have played a central role during the development of the directive \u2013 providing expertise, facilitating dialogue and raising awareness,\u201d added Ms. Fogelberg. This outcome is also the result of the close collaborative work of several stakeholders committed to enhancing transparency and the accountability of European businesses. \u201cIn particular GRI commends the work of Commissioner Michel Barnier, the Greek Presidency of the Council of the European Union and European Parliament Rapporteur Raffaele Baldassarre and the Shadow Rapporteurs for their leadership and commitment to transparency.\u201d<\/div>\n
\n“The demand by investors and civil society for greater transparency and accountability of undertakings is growing,\u201d said MEP Raffaele Baldassarre. \u201cThe new rules will enable forward-looking business leaders to address this demand and to fully make use of the huge potential of CSR in order to increase their competitiveness while contributing to smart and sustainable growth in Europe.”<\/div>\n
<\/div>\n
\u201cThis directive is the vital catalyst needed to usher in a new era of transparency in the largest economic region in the world,\u201d said Ms. Fogelberg. \u201cThis is a truly historic moment and I am confident that this is just the beginning of a new era for transparency and sustainable and inclusive growth in the EU.\u201d<\/div>\n
<\/div>\n
Source: GRI<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The European Parliament adopted the long-awaited directive on the disclosure of non-financial and diversity information by certain large companies. \u200b \u201cThis vote is a victory for transparency and this is […]<\/p>\n","protected":false},"author":1,"featured_media":2101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[864],"tags":[],"class_list":["post-2103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nGRI celebrates new era for non-financial information disclosure in the EU - BCSDH<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bcsdh.hu\/news\/gri-celebrates-new-era-for-non-financial-information-disclosure-in-the-eu\/?lang=en\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GRI celebrates new era for non-financial information disclosure in the EU - 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