Non-Financial Reporting Directive (NFRD)
This Directive amends Directive 2013/34/EU to require certain large undertakings and groups to disclose non-financial information and diversity policies in their management report. Non-financial information should cover environmental, social and employee matters, respect for human rights, and anti-corruption and bribery matters, including the undertaking's business model, relevant policies, the outcomes of those policies, principal risks and non-financial key performance indicators. Large listed public-interest entities with an average of more than 500 employees shall prepare a consolidated non-financial statement.
Timeline
- 5 Dec 2014Entry into force
- 6 Dec 2016Deadline for publication of guidelines
- 6 Dec 2016AuthoritiesMember State transposition deadline
- 1 Jan 2017Non-financial statement disclosure obligation applies
- 6 Dec 2018AuthoritiesDeadline for the Commission's report
Key facts
- Reference
- Directive 2014/95/EU
- Adopted
- 22 Oct 2014
- Published
- 15 Nov 2014
- Status
- Repealed
- Amendments
- Repealed by Dir (EU) 2022/2464 (Corporate Sustainability Reporting Directive, CSRD); certain CSRD provisions have been amended by Dir 2026/470
- Topic
- ESG & Governance
- Industries
- Cross-sector, Financial Services
Main compliance requirements
Paid members only
The main compliance requirements, applicability questions and penalties are available in the ZC Smart Compliance Hub. Paid members and clients can sign in to the Hub to view them.
Related legislation
- Amends Directive 2013/34/EU (Directive of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings)
Official sources
Directive 2014/95/EU amending Directive 2013/34/EU as regards disclosure of non-financial and diversity information by certain large undertakings and groups