In a direction of improving company`s Business integrity can be seen the new EU Directive which broadens the spectrum of annually reported nonfinancial information.
Setting common frame for reporting is going to facilitate investors and other stakeholders in comparing company information, which up to this moment is difficult to benchmark due to lack of common standards. The directive aims to guarantee that companies report true and comparable sustainability information in order to redirect investments towards more sustainable technologies and companies.
Some of the annually published information by companies will have to report about:
- Environmental protection;
- Social responsibility and treatment of employees;
- Respect for human rights;
- Anticorruption and bribery;
- Sustainability risk (including climate change) affecting the company + company's impact on society and environment;
- More information on company long- term goals;
The new directive will affect about 50 000 European companies, 500 of which are Bulgarian. The first year to report will be 2024.
More information can be found here EU Corporate Sustainability Reporting Directive—What Do Companies Need to Know (harvard.edu).
