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Transposition of EU NFR Directive: Amendments to Companies Act

Belgium Current 2017

The transposition mandates large organizations that have at least 500 employees. In addition, they have a balance sheet totaling at more than 20 million euros or a net turnover of more than 40 million euros. The main purpose of the EU directive is to encourage transparency. This increases confidence among investors, consumers and other stakeholders. Belgian law must ensure that investors can better assess the risks of their investment. It also promotes the uniformity of reporting on non-financial information and information on diversity.

Issuer name

Commissie boekhoudkundige normen

Government ministry

Energy

Comply or explain

True

Organizations covered by the instrument

Large private and listed companies

Target organization notes

PIEs 500+

Industry scope

All/none specified

Disclosure venue

Annual report / management report

ESG coverage- S (Social)

Human Rights, Product & Services Responsibility

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour, Remuneration

Status

Current

Country

Belgium

Region

Europe

Date of publication

2017

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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