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IT - Adoption of new regulation about non-financial information

18/05/2018

On 18 January 2018, CONSOB has adopted the Regulation on non-financial information in implementation of European Directive 2014/95/EU, implemented under national law with Italian Legislative Decree n.254/2016 (resolution n. 20267).

On 18 January 2018, CONSOB has adopted the Regulation on non-financial information in implementation of European Directive 2014/95/EU, implemented under national law with Italian Legislative Decree n.254/2016 (resolution n. 20267).

The Regulation governs the methods for publication, verification and supervision of non-financial declarations (NFDs). Starting from the financial statements relating to the financial years that began in 2017, listed companies, banks and large insurance firms (which have at least 500 employees and fulfil certain size requirements) must draw up a declaration on non-financial themes (the NFD), such as environmental and social themes, aspects concerning employees, respect for human rights, and the fight against active and passive corruption, at the same time as their financial statements.

The NFD intends to harmonise the publication of non-financial information, although with significant flexibility margins. The objective is to ensure ease of access to this information for consumers and investors.

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