[ParlTrack]

Proposal for a directive
Recital 9 b (new)

(9b) In addition to non-financial reporting encouraged at European level, international efforts to improve transparency in financial reporting have been noted. Country-by-country reporting in the extractives sector has been legislated for by both the EU and the US, while within the context of the G8 and G20, which includes four Member States and involves the European Commission, the OECD has been asked to draw up a standardised reporting template for multi- national undertakings to report to tax authorities where they make their profits and pay taxes around the world. Such developments improving transparency in financial reporting complement the proposals contained in this Directive, as appropriate measures for their respective purposes, be they national, pan-European or international in scale and possible risk.

2013/11/15
Committee: JURI

Sajjad KARIM

Proposal for a directive
Recital 11

(11) The scope of these non-financial disclosure requirements should be defined by reference to the average number of employees, total assets and turnover. SMEs should be exempted from additional requirements, and the obligation to disclose a non-financial statement in the annual report should only apply to those companies which are public interest entities whose average number of employees exceeds 500~~, and exceed either a balance sheet total of EUR 20 million or a net turnover of EUR 40 million~~.

2013/11/15
Committee: JURI

Sajjad KARIM

Proposal for a directive
Article 2 a (new) – point d

Directive 2013/34/EU
Article 19

(d) Article 19 is amended as follows: (1) The following paragraph 1a is inserted: 1a. For public interest entities, whose average number of employees during the financial year exceeds 500, the review shall include a non-financial statement containing information, to the extent necessary for an understanding of the undertaking's development, performance or position relating to at least environmental, social and employee matters, respect for human rights, anti- corruption and bribery matters, shall include: (a) a description of the company's strategy, (b) a description of the company's business model, The review shall also include: (a) a description of the policy pursued by the undertaking in relation to these matters; (b) the results of these policies (c) the risks related to these matters and how the undertaking manages those risks. Where the undertaking does not report on one or more of these matters, the review shall provide a clear and reasoned explanation for not doing so. Where the undertaking relies on national, Union-based or international frameworks when providing the information required by the first subparagraph, the undertaking shall specify which framework or frameworks have been applied. (2) The following paragraph 4a is inserted: Nothing in this article shall require the disclosure of information about impending developments or matters in the course of negotiation if the disclosure would, in the opinion of the administrative, management or supervisory body be seriously prejudicial to the interests of the company.

2013/11/15
Committee: JURI

Sajjad KARIM

Proposal for a directive
Article 2 a (new) – point e

Directive 2013/34/EU
Article 20 – paragraph 1 – point f a (new)

(e) In Article 20(1), the following point is added: (fa) a description of the undertaking's diversity policy for its administrative, management and supervisory bodies with regard to such aspects as age, gender and disability, the objectives of this diversity policy, how it has been implemented and the results in the reporting period. If the undertaking has no such policy, the statement shall contain a clear and reasoned explanation as to why this is the case.

2013/11/15
Committee: JURI

4 Amendments of Sajjad KARIM related to 2013/0110(COD)

ParlTrack - 2011-2024