Consultation outcome

Non-Financial Reporting Directive: UK implementation

This consultation has concluded

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Detail of outcome

We will:

  • introduce legislation that will apply the Directive to all companies in scope but allow those at the boundaries to voluntarily comply with the EU requirements
  • clarify legislation concerning sending annual reports electronically and work with the Financial Reporting Council to encourage innovative digital reporting
  • explore options around gender reporting with business and other stakeholders to consider how best to fulfil this requirement

Detail of feedback received

We received 76 responses from interested parties, including:

  • academics
  • accountants
  • civil society
  • companies
  • consultancies
  • individuals
  • investors
  • representative bodies

Original consultation

Summary

We’re asking for views on how to implement the requirements of the EU Non-Financial Reporting Directive (2014/95/EU) into UK law.

This consultation ran from
to

Consultation description

We want industry views on how we should implement the requirements in the EU Non-Financial Reporting Directive (2014/95/EU) into UK law. This amends Directive 2013/34/EU and requires certain companies, with more than 500 employees, to disclose information in their management reports about their:

  • policies
  • environmental risks
  • social and employee situation
  • respect for human rights
  • anti-corruption and bribery issues
  • diversity in their board of directors

This will provide investors and other stakeholders with a more comprehensive view of a company’s performance.

Documents

Consultation on the Non-Financial Reporting Directive

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Impact assessment of the Non-Financial Reporting Directive proposals

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Regulatory Policy Committee (RPC) impact assessment review

Published 16 February 2016
Last updated 8 November 2016 + show all updates
  1. Added government response.

  2. Added impact assessment and Regulatory Policy Committee assessment.

  3. First published.