Non-financial information reporting continues to be high on the European agenda. The European Commission recently launched a public consultation on its “Guidelines for the implementation of non-financial information reporting”, as originally planned in the related Directive. The aim of the “Directive on non-financial reporting” is to increase transparency on risks and impacts in many aspects of business: the environment, social and employee management, respect for human rights and anti-corruption. Increasing transparency and disclosing information will clearly further stimulate more transparent and sustainable value chains.
Companies would certainly benefit from guidelines for the implementation of this Directive. They would help ensure coherent and consistent reporting, and help clarify links with other global reporting frameworks.
Guidelines would be particularly helpful for Small & Middle-sized Entreprises, which play an important role in fostering CSR at local level. For this reason the Commission should encourage partnerships between governments and civil society in order to leverage what small businesses can do to resolve, amongst other things, social and environmental challenges.
FoodDrinkEurope encourages and supports members to continue to communicate the progress they make on their sustainability journeys and to adopt reporting practices that are in accordance, amongst others, with the Global Reporting Initiative (GRI) guidelines and the OECD MNE Guidelines.
More about FoodDrinkEurope's work on CSR/Responsible Business Conduct here.