The Government is consulting on a proposed EU Directive which will require non-financial information to be reported in the Annual Reports of companies that have more than 500 employees and either a balance sheet total of €20 million or a net turnover of €40 million. The proposed Directive also requires any listed company (regardless of size) to detail its diversity policy in its corporate governance statement.
The objective of these proposals is to ensure a level playing field across the EU by requiring consistency and comparability for non-financial information. Additionally, the reporting of age, gender, geographical diversity and educational and professional backgrounds provides enhanced transparency to increase board diversity.
The deadline for submissions to the Department of Jobs, Enterprise and Innovation is Friday 4 October 2013.