Did you know that the European Parliament adopted a new directive in April 2014, which requires organizations with more than 500 staff to disclose (socio-ecological) sustainability matters, their business model, outcomes and risks in line with reporting guidelines by 2017?
In April 2014 the European Parliament has adopted the long-awaited Directive on the disclosure of non-financial and diversity information by certain large companies, amending the 2013 Accounting Directive. The Directive will enter into force once adopted by the Council and published in the EU Official Journal.
The Directive, which adopts a report or explain approach, introduces measures that will strengthen the transparency and accountability of an estimated 6000 companies in the EU. These so-called ‘public interest entities’ with more than 500 employees will be:
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Required to report on environmental, social and employee-related, human rights, anti-corruption and bribery matters |
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Required to describe their business model, outcomes and risks of the policies on the above topics, and the diversity policy applied for management and supervisory bodies |
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Encouraged to rely on recognized frameworks such as GRI’s Sustainability Reporting Guidelines, the UNGC, the UNGP on Business and Human Rights, OECD Guidelines, ISO 26000 and the ILO Tripartite Declaration |
This Directive is part of the wider European Union’s initiative on Corporate Social Responsibility which includes plans for a consistent approach to reporting to support smart, sustainable and inclusive growth in pursuit of the Europe 2020 objectives.
Is your organization ready to start reporting? Do you have a sustainability strategy, which shows you understand and address the risks and opportunities of sustainability related issues to include in the report? Do you have what it takes to attract the stakeholders to engage with you when 6000+ other EU firms need to go through a similar process? Do you have the right set of competences in your organization, or will you hire a fast external consultant to create you a great looking report that scratches the surface of opportunities and risks?
At FUTURE-PROOFinc. we understand what sustainability is, how it can and will benefit you and how to implement it effectively. We developed an awarded process based on GRI and The Natural Step that addresses your needs and that of your stakeholders, minimizes risks and helps reap a variety of opportunities. Aligning reporting efforts and strategic innovation and stakeholder engagement ensures optimal benefit of your efforts and investments to address important aspects in and outside your organization, while connecting with important stakeholders and creating the structure and content for a great sustainability report.
Probably not at your organization, but we have seen many organizations spend resources on internal staff who do not fully understand sustainability, or on external consultants – that do not truly understand your business (Nor sustainability) – to comply with new reporting requirements without having the actual benefits and run additional risks (e.g. damage to your reputation from green washing or failing to innovate, losing talent to competitors who align their value with personal values, rising costs of resources due to scarcity or new regulations).
We can help you make those informed decisions. And the next.
After a QuickScan of your organization we can determine your level of ambition and competences and plan what needs doing to ensure you will optimally benefit from sustainability.
