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European Commission Recommendation on disclosure of environmental issues in the annual accounts/ reports

EU Current 2001

The European Commission adopted a Recommendation on recognition, measurement and disclosure of environmental issues in the annual accounts and annual reports of EU companies.

Issuer name

EU

More information

The Recommendation clarifies existing EU accounting rules and provides guidance to improve the quality, transparency and comparability of environmental data available in companies' annual accounts and annual reports. The current lack of a common set of rules and definitions means that environmental information disclosed by companies is often inadequate and unreliable. This makes it difficult for investors and other users of financial statements to form a clear and accurate picture of the impact of environmental factors on a company's performance, or to make comparisons between companies.

Reporting resources

True

Organizations covered by the instrument

All Companies

Target organization notes

all companies covered by the fourth and seventh Company Law Directives,

Industry scope

All/none specified

Disclosure venue

Annual report, consolidated annaul report

ESG coverage - E (Environment)

All

Status

Current

Country

EU

Region

Europe

Date of publication

2001

Issuer type

Governments (governmental department, agency)

Reporting requirements

Guidelines and standards for non-financial reporting

Mandatory or voluntary

Voluntary

The geographical scope

International/regional (EU)

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