EU companies need standardized template for nonfinancial reporting, market regulator says

11 October 2018 7:30pm
EU banks, insurers and publicly traded companies need a common template to disclose their energy, environmental, anticorruption and other policies, a senior European market regulator said in a call to strengthen nonfinancial reporting.

Companies have taken divergent approaches in their first mandatory reports, which came in this year, said Ana María Martínez-Pina García, vice chairwoman of Spain's National Securities Market Commission and head of a committee of EU watchdogs for corporate reporting.

"We have seen good progress," she told a conference* in Brussels yesterday. "But we think that the main problem we are facing now is that the nonfinancial reporting doesn't have a [single] unique framework."

* "Sustaining Growth through Innovation in Capital Markets," held by the European Capital Markets Institute, Brussels, Oct. 10, 2018.