Date: 19th July 2021

In May 2018, The European Parliament called for further developments of reporting requirements in the framework of the Non-Financial Reporting Directive (NFRD). In December 2020, a resolution on Sustainable Corporate Governance has been launched including the commitment to review the NFRD and increase its scope to additional categories of companies.

In April 2021, the European Commission has published the proposal for a directive to amend the existing rules on non-financial reporting standards. The review follows a series of consultations and the establishment of the European Corporate Reporting Lab under the European Financial Reporting Advisory Group (EFRAG).

The primary users of the information on the sustainability of the company are mostly investors, NGOs, social partners and other stakeholders. Among investors there are not only asset managers but also individual investors who are interested in the sustainability of the companies they want to invest in.