The Committee of Permanent Representatives (COREPER) today endorsed an agreement forged by the Greek Presidency between the Council and the European Parliament on a draft directive for the disclosure of non-financial and diversity information by certain large companies.

New measures will require certain big EU companies to draw up, on a yearly basis, a statement relating to environmental, social and employee-related matters, respect for human rights, anti-corruption and bribery matters. These new measures are aimed at strengthening the company's transparency and accountability.

The current president of the Competitiveness Council, Greek minister for Development and Competitiveness Kostis Hatzidakis said that “willingness to compromise on this important dossier, which provides the European Union with the first legislation on non-financial information reporting, is very encouraging. Corporate Social Responsibility is an enabling tool for business productivity and contributes to a smart and sustainable growth. It is not only for shareholders but also for stakeholders and citizens that it adds value”.

The agreement still has to be formalised by the European Parliament and the Council separately.