Brussels, 15/04/2014 (Agence Europe) - On Tuesday 15 April, the European Parliament set in stone a directive requiring big European companies quoted on the stock exchange to publish information each year about their social, environment and staffing policies (see EUROPE 11027).
The rules only apply to companies described as “public interest” companies, such as banks, insurance companies and blue chips with more than 500 members of staff, in other words some 6,000 companies in total in the EU. Each year, they must publish a policy statement and details of how the policies have been implemented. If any company fails to implement its own policies, it will be required to explain itself.
The directive does not require the companies to issue an annual report providing details of profits made, taxes paid on profits and public subsidies received in each country in which they do business, but the European Commission is asked to look into the feasibility of such a measure by July 2018. (MB)