On 17 February, the Alliance for Corporate Transparency (a project initiated by Frank Bold with a range of civil society organisations) released its latest report analysing disclosure of 1,000 companies pursuant to the EU Non-Financial Reporting Directive. The analysis finds that the information provided is falling “far short” of expectations and that:
The findings will feed into discussions at the European Commission level related to updating the directive and the development of the European Non-Financial Reporting Standard, as well as ongoing EU and national legislative discussions.
“The true challenge is whether fundamental environmental and societal change in our world is so rapid, that the legislation itself is failing to enable business, markets and society to adapt, respond and to meet those changes. The fact that the UN International Panel on Climate Change predicts that we have only a decade left to avert a disastrous climate change speaks for itself”
Richard Howitt, 2019 Research Report: An analysis of the sustainability reports of 1000 companies pursuant to the EU Non-Financial Reporting Directive (The Alliance for Corporate Transparency with Frank Bold, February 2020)