European Parliament and Council reach agreement on Commission proposal to improve transparency of company social and environmental conduct

European Parliament and Council reach agreement on Commission proposal to improve transparency of company social and environmental conduct

 

Press release European Commission Feb. 26, 2014

“The European Parliament and the Council have reached agreement on an amendment to existing accounting legislation to improve the transparency of certain large companies on social, environmental and diversity matters. Companies concerned will need to disclose information on policies, risks and results as regards environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and bribery issues, and diversity on boards of directors.” The OECD guidelines on multinational enterprises are recognized within the legislation as a model upon which declarants may base their disclosures.

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