Disclosure of non-financial and diversity information
Press release 18/04
The provisions of the Law of 23 July 20161 as regards the disclosure of non-financial and diversity information by certain large undertakings and groups are applicable as of the financial year 2017. This law introduces mandatory disclosures in their management report or in a separate report on the policies, the outcomes of those policies and the related risks with respect to social and environmental issues, human resources, respect for human rights, anticorruption and bribery matters as well as the diversity applied in relation to their management and supervisory bodies.
These new provisions only apply to large public interest entities (credit institutions, insurance companies and listed entities on a regulated market in the EU) exceeding 500 employees, total assets of EUR 20 million and/or a net turnover of EUR 40 million.
In this context, the CSSF would like to draw attention to the publication by the European Commission of non-binding guidelines on environmental and social disclosures as a common voluntary framework in order to facilitate the comparison of such information at a European level. These non-binding guidelines lay out a methodology for reporting non-financial information, including non-financial key performance indicators, general and sectoral, with a view to facilitating relevant, useful and comparable disclosure of non-financial information by the companies in scope. The European Commission’s guidelines take into account current best practices and the latest international developments. They are available at the following address:
1 This law transposes Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014 amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups.