Transposition of EU NFR Directive: Act No 3/2006 Amendments of Annual Accounts Act of 1995

The amendment to the Annual Accounts Act states that certain companies have an obligation to include a brief disclosure of environmental and social information in the Board of Directors’ Report section of the annual report.

Issuer name

Ministry of Industries and Innovation

Government ministry

Other

More information

The Annual Accounts Act (Årsredovisningslagen) was updated in 2006; certain companies have to include even more non-financial information. This update is a result of the implementation of the Accounting Modernisation Directive (2003/51/EC) in Swedish legislation.

Comply or explain

True

Organizations covered by the instrument

Large private and listed companies

Target organization notes

1, PIEs 2, Large undertakings fulfilled these criteria: a). total assets: ISK 3,000,000,000; b). net turnover: ISK 6,000,000,000; c). average number of man-years during the financial year: 250; 3, Parent companies of large consolidations,

Industry scope

All/none specified

Disclosure venue

Annual Director's report

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

Employment Conditions, Policies and Practices, Social Impacts & Value Creation, Human Rights

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour

Status

Current

Country

Sweden

Region

Europe

Date of publication

2006

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Go to the instrument