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The state of corporate sustainability disclosure under the EU NFR Directive

Conference | 8 February | Bruxelles

DESCRIPTION

The conference will see the presentation of the first results from the assessment of the corporate implementation of the EU Non-Financial Reporting Directive carried out by the Alliance for Corporate Transparency project.

The presentation will be followed by a panel discussions that will focus on the ongoing review of the Directive, the Sustainable Finance Action Plan and related legislative proposals as well as current practices and challenges of corporate sustainability reporting.

Confirmed speakers include:

  • Alain Deckers, Head of Unit, Accounting and Financial Reporting at DG FISMA, European Commission

  • Susanne Stormer, Vice President of Corporate Sustainability, NovoNordisk

  • Tom Salisbury, Senior Sustainability Business Manager, Vodafone

  • Heidi Hautala, Vice-President of the European Parliament and MEP (video)

  • Sirpa Pietikainen, MEP

  • Investor representative (tbc)

  • Filip Gregor, Head of Responsible Companies, Frank Bold

  • Sebastien Godinot, Economist, WWF

  • Phil Bloomer, Executive Director, Business and Human Rights Resource Centre

  • Marilyn Croser, Director, CORE Coalition

  • Mirjam Wolfrum, Director of Policy & Reporting, CDP Europe

  • Martin Rich, Co-Founder and Executive Director, Future-Fit Foundation

The event will gather policy-makers, civil society organisations, company and investor representatives at a key moment for the European Union. Following on from the publication of the Action Plan on Sustainable Finance, the EU Commission issued a series of legislative proposals aimed at reorienting capital flows towards sustainable investments and managing risks stemming from climate change, environmental degradation and social issues. 

Achieving the objectives of the Action Plan and related legislative files depends on the quality of information disclosed by public companies on key sustainability issues. This critical information is indispensable to facilitate investors’ analysis and factor sustainability in their decision making. It is also required for ensuring that other stakeholders can hold corporations accountable. The problem lies in the wide divergence in companies’ reporting practices that leads to a lack of concise, consistent, comparable information for investors and other stakeholders. The NFR Directive came into force this year, and while it was a first step in the right direction, it falls short in specifying which concrete information and risks must be disclosed.

 


*About the Alliance for Corporate Transparency project:

This initiative is a three-year research project that brings together leading civil society organisations and experts with the aim of analysing the corporate disclosure on ESG issues by the 1000 largest companies operating in the EU and recommending legislative changes.The project will assess if companies are disclosing key information necessary for understanding their risks and impacts on the environment and society, as required by the EU NFR Directive. For this, the project will draw from international standards and existing reporting frameworks in order to determine what information is commonly understood to be essential and material.

If you wish to receive further information and updates on the project, please register for our newsletter here or contact us by email here.