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Transposition of EU NFR Directive: Amendments to the Companies Act

Cyprus Current 2016

Cyprus has transposed the EU Directive on NGI and Diversity information

Issuer name

Ministry of Finance

Government ministry

Finance/Treasury

More information

It diverges a bit from the original directive, applying the Diversity statements to all large listed PIEs with over 500 employees. Furthermore is require the content to be check by an auditor not just the presence. It also includes fines for non-compliance, which it is states in the Companies Act

Organizations covered by the instrument

Large private and listed companies

Target organization notes

PIE 500+

Industry scope

All/none specified

Disclosure venue

Management report; non-financial report

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

Human Rights, Employment Conditions, Policies and Practices

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour

Status

Current

Country

Cyprus

Region

Europe

Date of publication

2016

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