Risk Associated With Non-Financial Reporting With Respect To Environmental Issues

On 22 October 2014 the directive 2014/95/EU of the European Parliament and of the Council amending the directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertaking and groups has been adopted.

The Directive introduces significant changes related to the extension of the scope of the non-financial information with respect to which a statement needs to be included in the management report.

From 1 January 2017 this obligation will concern environmental issues, but also social and employee matters, respect for human rights, anti-corruption and bribery matters.

The information to be disclosed will include:

• a description of the policies pursued by the undertaking in this respect,