Consultation outcome

Non-Financial Reporting Directive: UK implementation

• From: Department for Business, Energy & Industrial Strategy
• Published: 16 February 2016
• Last updated: 8 November 2016 — See all updates

This was published under the 2015 to 2016 Cameron Conservative government

This consultation has concluded

Read the full outcome

Non-Financial Reporting Directive consultation: government response

Ref: BEIS/16/41

PDF, 378 KB, 13 pages

Detail of outcome

We will:

• introduce legislation that will apply the Directive to all companies in scope but allow those at the boundaries to voluntarily comply with the EU requirements
• clarify legislation concerning sending annual reports electronically and work with the Financial Reporting Council to encourage innovative digital reporting
• explore options around gender reporting with business and other stakeholders to consider how best to fulfil this requirement

Detail of feedback received

We received 76 responses from interested parties, including:

• academics
• accountants
• civil society
• companies
• consultancies
• individuals
• investors
• representative bodies

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Original consultation

Summary

We’re asking for views on how to implement the requirements of the EU Non-Financial Reporting Directive (2014/95/EU) into UK law.

This consultation ran from
11am on 16 February 2016 to 11:45pm on 15 April 2016

Consultation description

We want industry views on how we should implement the requirements in the EU Non-Financial Reporting Directive (2014/95/EU) into UK law. This amends Directive 2013/34/EU and requires certain companies, with more than 500 employees, to disclose information in their management reports about their:

• policies
• environmental risks
• social and employee situation
• respect for human rights
• anti-corruption and bribery issues
• diversity in their board of directors

This will provide investors and other stakeholders with a more comprehensive view of a company’s performance.

Documents

Consultation on the Non-Financial Reporting Directive

Ref: BIS/16/35

PDF, 538 KB, 48 pages

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Impact assessment of the Non-Financial Reporting Directive proposals

Ref: BIS/16/35/IA

PDF, 639 KB, 43 pages

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Regulatory Policy Committee (RPC) impact assessment review

Ref: BIS/16/35/RPC

PDF, 274 KB, 4 pages

Published 16 February 2016
Last updated 8 November 2016 + show all updates

1. 8 November 2016

   Added government response.

2. 10 March 2016

   Added impact assessment and Regulatory Policy Committee assessment.

3. 16 February 2016

   First published.