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.
EU companies need standardized template for nonfinancial reporting, market regulator says
11 October 2018 7:30pm