Law 3487, 2006

Greece Current 2006

This law transposed the EU Modernisation Directive 2003/51/EC into Greek national legislation. The Directive states that for companies which meet certain financial criteria, to the extent necessary for understanding the company’s overall position/performance, the Annual Report (and Financial Statements) shall include financial and non-financial indicators (if deemed applicable/required) related to the company’s business activity. These indicators may include information regarding employee relations and environmental issues. The law applies if at least 2 of the conditions below are met: Exceed a Balance Sheet value of EUR 2.5 million; Exceed net sales of EUR 5 million ; Exceed average personnel number of 50 throughout the financial year

Scope

Environmental & Social

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

Companies who: Exceed a Balance Sheet value of EUR 2.5 million; Exceed net sales of EUR 5 million ; Exceed average personnel number of 50 throughout the financial year

Issuer type

Jointly by Minsitry of Finance and Ministry of Development

Type of instrument

Legislation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners