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Commission guidelines on non-financial reporting


The non-financial reporting Directive (2014/95/EU) requires large public interest entities with over 500 employees (listed companies, banks, and insurance companies) to disclose certain non-financial information. As required by the directive, the Commission has published non-binding guidelines to help companies disclose relevant non-financial information in a more consistent and more comparable manner.

Guidelines on reporting climate-related information

The Commission has published guidelines on reporting climate-related information, which in practice consist of a new supplement to the existing guidelines on non-financial reporting, which remain applicable.

The guidelines on reporting climate-related information integrate the recommendations of the Financial stability board's taskforce on climate-related financial disclosures (TCFD) and take account of the forthcoming taxonomy on sustainable activities that is under development.

The guidelines on reporting climate-related information are a deliverable of the Commission’s action plan on financing for sustainable growth published in March 2018 and build on the recommendations of the technical expert group on sustainable finance (TEG).

The TEG published its report on climate-related disclosures in January 2019 and invited stakeholders for feedback. Approximately 70 organisations and individuals submitted comments. The TEG published a summary of these comments.

The Commission took into account the TEG report and the feedback received from stakeholders on that report and consulted stakeholders on the update of the guidelines before their adoption in June 2019. The Commission published asummary of the written comments provided by stakeholders on its consultation document.

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