The Directive 2014/95/EU on disclosure of non-financial and diversity information was made effective on 6 December 2014 and implemented in the national law in Austria by end of 2016. In Austria, it is called “NaDiVeG“ (Nachhaltigkeit-und Diversitätsverbesserungsgestz).
The Directive applies to:
- large public-interest companies with more than 500 employees including public listed companies,
- banks, insurance companies,
- other companies designated by national authorities as public-interest entities
Information to be included in the integrated annual report:
From financial year 2017 on , the management report (to be published in 2018) include a non-financial statement containing information describing the development, performance, position and impact of the company’s activity, relating to, as a minimum, environmental, social and employee matters, respect for human rights, anti-corruption and bribery matters, including:
- brief description of the undertaking’s business model;
- a description of the policies pursued by the undertaking in relation to those matters, including due diligence processes implemented;
- the outcome of those policies;
- the principal risks related to those matters linked to the undertaking’s operations including, where relevant and proportionate, its business relationships, products or services which are likely to cause adverse impacts in those areas, and how the undertaking manages those risks;
- non-financial key performance indicators relevant to the particular business.
On June 2017 The EU Commission issued guidelines on the disclosure of environmental and social information. The aim of these guidelines is to support companies to disclose relevant non-financial information in a consistent and more comparable manner. The Methodology for reporting non-financial information is available in several languages: see link: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52017XC0705(01)