Extra reporting requirements imposed on non-financial firms

Tim Wallace
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EUROPEAN firms will have to publish updates on areas as varied as their environmental impact, gender diversity and corporate social responsibility programmes under rules approved yesterday.

The rules are a departure from the traditional reports that focused on business performance and finance.

The UK government said it is vital the rules do not bring in too much new red tape.

“It’s really important that these measures cover the whole EU and I believe that they strike the right balance between ensuring companies report useful information whilst avoiding imposing unnecessary burdens on businesses,” said business minister Jenny Willott.