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20 February 2020

Sustainable Finance: Commission launches public consultation on the review of the Non-Financial Reporting Directive

Meeting the objectives of the European Green Deal will require additional investments across all sectors of the economy, the bulk of which will need to come from the private sector.

Reviewing the Directive is an essential part of the Commission's effort to scale up sustainable finance by improving corporate transparency and providing all stakeholders with more comparable and relevant information on sustainable business activities. Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People said, “Tackling climate change has implications across the board, including on corporate reporting. Our transformation to a carbon-neutral economy means that people need more information from the companies they are investing in. As things stand today, there is currently a sustainability reporting gap that is hampering progress towards a sustainable financial system. The needs of investors for corporate sustainability information are growing faster than any improvements in company reporting. So we welcome all views on how best to improve this Directive. ” The feedback from the public consultation will feed into the Commission's impact assessment on the review of the Directive.

Full press release             

© European Commission

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