The EU directive on non-financial reporting (NFRD) is currently being revised. A resolution of the EU Parliament indicates that far-reaching changes are on the table. Although there are still many hurdles to take, the revision underlines the expectations of the EU Commission to extend the reporting obligation and to impose additional, binding CSR-related obligations on companies.
The revision of the EU reporting obligations is prepared by a multi-stakeholder project task force of EFRAG (European Financial Reporting Advisory Group). This work is expected to be completed by the end of Q1 2021. If an agreement is reached at EU level and transposed into national law quickly, the new regulation could affect reports published as soon as 2024.
As soon as more specific information is available, we will inform you here and in our newsletter.