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Article

22 Apr 2016

Author:
UN Global Compact UK

UK Global Compact submission to UK Govt. on implementation of EU Non-Financial Reporting Directive

"Consultation: Non-Financial Reporting Directive: Consultation" 15 Apr 2016

...We have read the consultation document –The Non-Financial Reporting Directive with great interest and wish to submit our views on how we think the UK government should transpose the Directive...While we recognise the importance of focussing on larger enterprises to ensure that 'leaders' are pursuing higher standards which can be replicated by smaller companies, in order to be consistent with our UN Global Compact position, our preferred option would be (c) Extend the EU non-financial reporting (NFR) requirements to all companies listed in an EU regulated market...with the caveat that this should not apply to micro enterprises...In our view, all companies should be mindful of how their business impacts society, and should put in place proportionate measures, based on their size and capacity, to assess and monitor how they are impacting their stakeholders and the environment...