Increased corporate transparency on the way after European Parliament vote

Rebecca ALDE biog photoToday the European Parliament voted in favour requiring large companies to provide greater information on their impact on society, such as the environmental and social impacts their operations have.

The new rules will require the largest companies in the EU (around 6,000 in total) to disclose this information with their management reports.

Liberal Democrat MEP Rebecca Taylor who sits on the European Parliament’s Legal Affairs committee said:

“This vote is a unique opportunity when it comes to improving the accountability and transparency of large businesses in Europe, and I am pleased to have played a part in making it a reality.

“For those companies who already report on their impact on society, non-financial reporting has proven to contribute greatly to their long-term success.

“However this is only a start, and even though the final text is not as ambitious as I had hoped, I firmly believe that it will help investors and consumers better assess large businesses.”

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