European Parliament
2019-2024
Committee on Employment and Social Affairs
2021/0104(COD)
23.02.2022
COMPROMISE AMENDMENTS
1 - 74
Draft opinion
Kira Marie Peter-Hansen
(PE699.174v02-00)
Amending Directive 2013/34/EU, Directive 2004/109/EC, Directive
2006/43/EC and Regulation (EU) No 537/2014, as regards corporate
sustainability reporting
Proposal for a directive
(COM(2021)0189 – C9 0147/2021 – 2021/0104(COD))
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United in diversity
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Amendment A
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 58, 59, 60, 66
Proposal for a directive
Recital 8
Text proposed by the Commission
Amendment
(8)
The ultimate beneficiaries of better
(8)
The ultimate beneficiaries of better
sustainability reporting by undertakings are
sustainability reporting by undertakings are
individual citizens and savers. Savers who
individual citizens, including workers, and
want to invest sustainably will have the
savers, as well as the economy as a whole.
opportunity to do so, while all citizens
Public authorities and policy makers will
should benefit from a stable, sustainable
have better information at their disposal
and inclusive economic system. To realise
in order to design and implement public
these benefits, the sustainability
policies. Trade unions and workers’
information disclosed in undertaking’s
representatives will be adequately
annual reports first has to reach two
informed in order to be able to better
primary groups (‘users’). The first group of
engage in social dialogue. Savers who
users consists of investors, including asset
want to invest sustainably will have the
managers, who want to better understand
opportunity to do so, while all citizens
the risks and opportunities that
should benefit from a stable, sustainable,
sustainability issues pose to their
transparent, and inclusive economic
investments and the impacts of those
system. To realise these benefits, the
investments on people and the
sustainability information disclosed in
environment. The second group of users
undertaking’s annual reports first has to
consists of organisations, including non-
reach three primary groups (‘users’). The
governmental organisations and social
first group of users consist of public
partners, that wish to better hold
authorities; the second group of users
undertakings to account for their impacts
consists of investors, including asset
on people and the environment. Other
managers, who want to better understand
stakeholders may also make use of
the risks and opportunities that
sustainability information disclosed in
sustainability issues pose to their
annual reports. The business partners of
reputation and investments and the
undertakings, including customers, may
impacts of those investments on people, in
rely on this information to understand, and
particular workers, and the environment.
where necessary report on, the
The third group of users consists of
sustainability risks and impacts through
organisations, including non-governmental
their own value chains. Policy makers and
organisations and social partners, that wish
environmental agencies may use such
to better hold undertakings to account for
information, in particular on an aggregate
their impacts on people and the
basis, to monitor environmental and social
environment. Other stakeholders may also
trends, to contribute to environmental
make use of sustainability information
accounts, and to inform public policy. Few
disclosed in annual reports. The business
individual citizens and consumers directly
partners of undertakings, including
consult undertaking’s reports, but they may
customers, may rely on this information to
use such information indirectly such as
understand, and where necessary report on,
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when considering the advice or opinions of
the sustainability risks and impacts through
financial advisers or non-governmental
their own value chains. Policy makers,
organisations. Many investors and asset
social partners, non-governmental
managers purchase sustainability
organisations and environmental agencies
information from third party data
may use such information, in particular on
providers, who collect information from
an aggregate basis, to monitor
various sources, including public corporate
environmental and social trends, to
reports.
contribute to environmental accounts and
social progress, and to inform public
policy. However, this Directive should by
no means be interpreted as relieving
public authorities of their duties or social
partners of their responsibilities beyond
disclosed sustainability issues. Few
individual citizens and consumers directly
consult undertaking’s reports, but they may
use such information indirectly such as
when considering the advice or opinions of
financial advisers or non-governmental
organisations. Many investors and asset
managers purchase sustainability
information from third party data
providers, who collect information from
various sources, including public corporate
reports.
Or. en
Amendment B
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 1, 63, 64, 65
Proposal for a directive
Recital 9
Text proposed by the Commission
Amendment
(9)
There has been a very significant
(9)
There has been a very significant
increase in demand for corporate
increase in demand for corporate
sustainability information in recent years,
sustainability information in recent years,
especially on the part of the investment
especially on the part of the investment
community. That increase in demand is
community and the European institutions.
driven by the changing nature of risks to
That increase in demand is driven by the
undertakings and growing investor
changing nature of risks to undertakings
awareness of the financial implications of
and growing investor awareness of the
these risks. That is especially the case for
financial and reputational implications of
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climate-related financial risks. Awareness
these risks. That is especially the case for
of the risks to undertakings and to
climate-related financial risks. Awareness
investments resulting from other
of the risks to undertakings and to
environmental issues and from social
investments resulting from other
issues, including health issues, is also
environmental issues and from social
growing. The increase in demand for
issues, including child and forced labour,
sustainability information is also driven by
discrimination and health issues, is also
the growth in investment products that
growing. The increase in demand for
explicitly seek to meet certain
sustainability information is also driven by
sustainability standards or achieve certain
the growth in investment products that
sustainability objectives. Part of that
explicitly seek to meet certain
increase is the logical consequence of
sustainability standards or achieve certain
previously adopted Union legislation,
sustainability objectives. Part of that
notably Regulation (EU) 2019/2088 and
increase is the logical consequence of
Regulation (EU) 2020/852. Some of the
previously adopted Union legislation,
increase would have happened in any case,
notably Regulation (EU) 2019/2088 and
due to fast-changing citizen awareness,
Regulation (EU) 2020/852. Some of the
consumer preferences and market
increase would have happened in any case,
practices. The COVID-19 pandemic will
due to fast-changing citizen awareness,
further accelerate the increase in users’
consumer preferences and market
information needs, in particular as it has
practices. The COVID-19 pandemic will
exposed the vulnerabilities of workers and
further accelerate the increase in users’
of undertaking’s value chains. Information
information needs, in particular as it has
on environmental impacts is also relevant
exposed and accelerated the vulnerabilities
in the context of mitigating future
of workers, particularly women and
pandemics with human disturbance of
undeclared workers, and of undertaking’s
ecosystems increasingly linked to the
value chains. Information on
occurrence and spread of diseases.
environmental impacts is also relevant in
the context of mitigating future pandemics
with human disturbance of ecosystems
increasingly linked to the occurrence and
spread of diseases.
Or. en
Amendment C
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 2, 69, 70
Proposal for a directive
Recital 12
Text proposed by the Commission
Amendment
(12)
In the absence of policy action, the
(12)
In the absence of policy action, the
gap between users’ information needs and
gap between users’ information needs and
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the sustainability information reported by
the sustainability information reported by
undertakings is expected to grow. This gap
undertakings is expected to grow. This gap
has significant negative consequences.
has significant negative consequences.
Investors are unable to take sufficient
Investors are unable to take sufficient
account of sustainability-related risks and
account of sustainability-related risks and
opportunities in their investment decisions.
opportunities in their investment decisions.
The aggregation of multiple investment
The aggregation of multiple investment
decisions that do not take adequate account
decisions that do not take adequate account
of sustainability-related risks has the
of sustainability-related risks has the
potential to create systemic risks that
potential to create systemic risks that
threaten financial stability. The European
threaten financial stability. The European
Central Bank and international
Central Bank and international
organisations such as the Financial
organisations such as the Financial
Stability Board have drawn attention to
Stability Board have drawn attention to
those systemic risks, in particular in the
those systemic risks, in particular in the
case of climate. Investors are also less able
case of climate. Investors are also less able
to channel financial resources to
to channel financial resources to
undertakings and economic activities that
undertakings and economic activities that
address and do not exacerbate social and
address and do not exacerbate social and
environmental problems, which
environmental problems, which
undermines the objectives of the European
undermines the objectives of the European
Green Deal and the Action Plan on
Green Deal and the Action Plan on
Financing Sustainable Growth. Non-
Financing Sustainable Growth. Non-
governmental organisations, social
governmental organisations, social
partners, communities affected by
partners, communities affected by
undertakings’ activities, and other
undertakings’ activities, and other
stakeholders are less able to hold
stakeholders are less able to hold
undertakings accountable for their impacts
undertakings accountable for their impacts
on people and the environment. This
on people and the environment. This
creates an accountability deficit, and may
creates an accountability deficit, and may
contribute to lower levels of citizen trust in
contribute to lower levels of citizen trust in
businesses, which in turn may have
businesses, which in turn may have
negative impacts on the efficient
negative impacts on the efficient
functioning of the social market economy.
functioning of the social market economy.
The lack of generally accepted metrics and
The lack of sustainability information
methods for measuring, valuing, and
could limit the ability of trade unions and
managing sustainability-related risks is
workers’ representatives to enter into
also an obstacle to the efforts of
social dialogue with undertakings on
undertakings to ensure that their business
sustainability matters. The lack of (2)
models and activities are sustainable.
generally accepted metrics and methods for
measuring, valuing, and managing
sustainability-related risks is also an
obstacle to the efforts of undertakings to
ensure that their business models and
activities are sustainable.
Or. en
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Amendment D
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 56, 61, 68, 3, 75, 73 and 80
Proposal for a directive
Recital 15
Text proposed by the Commission
Amendment
(15)
Articles 19a and 29a of Directive
(15)
Articles 19a and 29a of
2013/34/EU apply to large undertakings
Directive2013/34/EU should continue to
that are public-interest entities with an
apply to large undertakings that are public-
average number of employees in excess of
interest entities with an average number of
500, and to public-interest entities that are
employees in excess of 500, and to public-
parent undertakings of a large group with
interest entities that are parent undertakings
an average number of employees in excess
of a large group with an average number of
of 500 on a consolidated basis,
employees in excess of 500 on a
respectively. In view of the growth of
consolidated basis, respectively. In view of
users’ needs for sustainability information,
the growth of users’ needs for
additional categories of undertakings
sustainability information, additional
should be required to report such
categories of undertakings should be
information. It is therefore appropriate to
required to report such information. It is
require all large undertakings and all
therefore appropriate to require all large
undertakings listed on regulated markets,
undertakings, and all undertakings listed on
except micro undertakings, to report
regulated markets, except micro
detailed sustainability information. In
undertakings, and medium-sized
addition, all undertakings that are parent
undertakings in high-risk economic
undertakings of large groups should
activity sectors to report sustainability
prepare sustainability reporting at group
information. In addition, all undertakings
level.
that are parent undertakings of large groups
should prepare sustainability reporting at
group level based on individual reports by
subsidiary undertakings. Notwithstanding
their legal form, undertakings registered
as foundations, partnerships or similar
structures fulfilling the criteria for
undertakings under articles 1 and 19a (1),
particularly as regards the thresholds
concerning their balance sheets, number
of employees and annual turnover, should
also be considered under the scope of this
directive.
Or. en
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Amendment E
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 4, 76, 77, 78
Proposal for a directive
Recital 16
Text proposed by the Commission
Amendment
(16)
The requirement that also large
(16)
The requirement that also large
non-listed undertakings should disclose
non-listed undertakings should disclose
information on sustainability matters is
information on sustainability matters is
mainly driven by concerns about the
mainly driven by concerns about the
impacts and accountability of such
impacts and accountability of such
undertakings, including through their value
undertakings, including through their value
chain. In this respect, all large undertakings
chain. In this respect, all large undertakings
should be subject to the same requirements
should be subject to the same requirements
to report sustainability information
to report sustainability information
publicly. In addition, financial market
publicly to ensure a level playing field. In
participants also need information from
addition, financial market participants also
those large non-listed undertakings.
need information from those large non-
listed undertakings.
Or. en
Amendment F
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 79
Proposal for a directive
Recital 17 a (new)
Text proposed by the Commission
Amendment
(17 a) Account should be taken of the
specific situation of undertakings, which
although not having any legal
establishment in the Union, regularly
carry out a significant economic activity
in the Union. Such undertakings should
be subject to the same obligations as those
established in the territory of the Union.
Or. en
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Amendment G
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 81, 83, 5, 82 and 84
Proposal for a directive
Recital 18
Text proposed by the Commission
Amendment
(18)
Considering the growing relevance
(18)
Considering the growing relevance
of sustainability-related risks and taking
of sustainability-related risks and taking
into account that small and medium-sized
into account that small and medium-sized
enterprises (SMEs) listed on regulated
enterprises (SMEs) listed on regulated
markets comprise a significant proportion
markets comprise a significant proportion
of all listed undertakings in the Union, in
of all listed undertakings and employ 65
order to ensure investor protection it is
per cent of all employees in the Union, in
appropriate to require that also those SMEs
order to ensure investor protection and
disclose information on sustainability
positive social and environmental impacts
matters. The introduction of this
of their business operations, it is
requirement will help to ensure that
appropriate to require that also those SMEs
financial market participants can include
as well as medium-sized undertakings in
smaller listed undertakings in investment
high-risk economic activity sectors
portfolios on the basis that they report the
disclose information on sustainability
sustainability information that financial
matters. The reporting standards are not
market participants need. It will therefore
only necessary but also useful and
help to protect and enhance the access of
constitute an opportunity for companies to
smaller listed undertakings to financial
demonstrate their commitment to the
capital, and avoid discrimination against
ecological and social transition and the
such undertakings on the part of financial
establishment of leading standards and
market participants. The introduction of
thereby feed into their competitive
this requirement is also necessary to ensure
advantage. The introduction of this
that financial market participants have the
requirement will help to ensure that
information they need from investee
financial market participants can include
undertakings to be able to comply with
smaller undertakings in investment
their own sustainability disclosure
portfolios on the basis that they report the
requirements laid down in Regulation (EU)
sustainability information that financial
2019/2088. SMEs listed on regulated
market participants need. It will therefore
markets should, however, be provided with
help to protect and enhance the access of
sufficient time to prepare for the
smaller listed undertakings and medium-
application of the requirement to report
sized undertakings in high-risk economic
sustainability information, due to their
activity sectors to financial capital, and
smaller size and more limited resources,
avoid discrimination against such
and taking account of the difficult
undertakings on the part of financial
economic circumstances created by the
market participants and will ensure a level
COVID-19 pandemic. They should also be
playing field. The introduction of this
given the possibility to report according to
requirement is also necessary to ensure that
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standards that are proportionate to the
financial market participants have the
capacities and resources of SMEs. Non-
information they need from investee
listed SMEs can also choose to use these
undertakings to be able to comply with
proportionate standards on a voluntary
their own sustainability disclosure
basis. The SME standards will set a
requirements laid down in Regulation (EU)
reference for undertakings that are within
2019/2088. SMEs listed on regulated
the scope of the Directive regarding the
markets and medium-sized undertakings
level of sustainability information that they
in high-risk economic activity sectors
could reasonably request from SME
should, however, be provided with
suppliers and clients in their value chains.
sufficient time to prepare for the
application of the requirement to report
sustainability information, due to their
smaller size and more limited resources.
They should also be given the possibility to
report according to standards that are
proportionate to the capacities and
resources of SMEs without causing an
excessive burden and requiring
disproportionate efforts. Non-listed SMEs
can also choose to use these proportionate
standards on a voluntary basis. The SME
standards will set a reference for
undertakings that are within the scope of
the Directive regarding the level of
sustainability information that they could
reasonably request from SME suppliers
and clients in their value chains.
(18 a) Medium-sized undertakings
carrying out a high-risk economic activity
should also be subject to sustainability
reporting obligations. The Commission
should be empowered to define a list of
high-risk economic activity sectors in line
with article 1 (paragraph 3a). In order to
ensure that this Directive can also apply
to such high-risk economic activity sectors
they should be defined and the power to
adopt acts in accordance with Article 290
of the Treaty on the Functioning of the
European Union in respect of establishing
a list of high-risk economic activity
sectors should be delegated to the
Commission. It is is of particular
importance that the Commission carry out
appropriate consultations to be
conductedin accordance with the
principles laid down in the
Interninstitutional Agreement on Better
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Law-Making of 13 April 2016. In
particular to ensure equal participation in
the preparation of delegated acts, the
European Parliament and the Council
should receive all documents at the same
time as Member States’experts, and their
experts should systematically have access
to meetings of Commission expert groups
dealing with the preparation of delegated
acts.
Or. en
Amendment H
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 7, 86
Proposal for a directive
Recital 21
Text proposed by the Commission
Amendment
(21)
Articles 19a(3) and 29a(3) of
(21)
Articles 19a(3) and 29a(3) of
Directive 2013/34/EU currently exempt all
Directive 2013/34/EU currently exempt all
subsidiary undertakings from the
subsidiary undertakings from the
obligation to report non-financial
obligation to report non-financial
information where such undertakings and
information where such undertakings and
their subsidiary undertakings are included
their subsidiary undertakings are included
in the consolidated management report of
in the consolidated management report of
their parent undertaking, provided this
their parent undertaking, provided this
includes the required non-financial
includes the required non-financial
information. It is necessary, however to
information. It is necessary, however to
ensure that sustainability information is
ensure that sustainability information is
easily accessible for users, and to bring
easily accessible for users, including with
transparency about which is the parent
regard to subsidiaries. The information
undertaking of the exempted subsidiary
provided by subsidiary undertakings
undertaking which is reporting at
should be included in the undertakings’
consolidated level. It is therefore
own report to generate an aggregate,
necessary to require those subsidiary
public overview country-by-country,
undertakings to publish the consolidated
where relevant, similar to the
management report of their parent
transparency requirements set out in the
undertaking and to include a reference in
public-Country-by-Country Directive.
their management report to the fact that
they are exempted from reporting
sustainability information. That
exemption should also apply where the
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parent undertaking reporting at
consolidated level is a third country
undertaking reporting sustainability
information in accordance with the
requirements of this Directive or in a
manner equivalent to EU sustainability
reporting standards.
Or. en
Amendment I
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 9, 90
Proposal for a directive
Recital 26
Text proposed by the Commission
Amendment
(26)
Articles 19a(1) and 29a(1) of
(26)
Articles 19a(1) and 29a(1) of
Directive 2013/34/EU require undertakings
Directive 2013/34/EU require undertakings
to disclose information about five reporting
to disclose information about five reporting
areas: business model, policies (including
areas: business model, policies (including
due diligence processes implemented), the
due diligence processes implemented), the
outcome of those policies, risks and risk
outcome of those policies, risks and risk
management, and key performance
management, and key performance
indicators relevant to the business. Article
indicators relevant to the business. Article
19a(1) of Directive 2013/34/EU does not
19a(1) of Directive 2013/34/EU does not
contain explicit references to other
contain explicit references to other
reporting areas that users of information
reporting areas that users of information
consider relevant, some of which align
consider relevant, some of which align
with disclosures included in international
with disclosures included in international
frameworks, including the
frameworks, including the
recommendations of the Task Force on
recommendations of the Task Force on
Climate-related Financial Disclosures.
Climate-related Financial Disclosures.
Disclosure requirements should be
Disclosure requirements should be
specified in sufficient detail to ensure that
specified in sufficient detail to ensure that
undertakings report information on their
undertakings report information on their
resilience to risks related to sustainability
resilience to risks related to sustainability
matters. In addition to the reporting areas
matters. In addition to the reporting areas
identified in Articles 19a(1) and 29a(1) of
identified in Articles 19a(1) and 29a(1) of
Directive 2013/34/EU, undertakings should
Directive 2013/34/EU, undertakings should
therefore be required to disclose
therefore be required to disclose
information about their business strategy
information about their business strategy
and the resilience of the business model
and the resilience of the business model
and strategy to risks related to
and strategy to risks related to
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sustainability matters, any plans they may
sustainability matters, any plans they may
have to ensure that their business model
have to ensure that their business model
and strategy are compatible with the
and strategy are compatible with the
transition to a sustainable and climate-
transition to a sustainable and climate-
neutral economy; whether and how their
neutral economy; whether and how their
business model and strategy take account
business model and strategy ensure respect
of the interests of stakeholders; any
for decent work, fair wages, and
opportunities for the undertaking arising
safeguard the rights and interests of
from sustainability matters; the
stakeholders, including trade unions, and
implementation of the aspects of the
workers representatives; any opportunities
business strategy which affect, or are
for the undertaking arising from
affected by sustainability matters; any
sustainability matters; the implementation
sustainability targets set by the undertaking
of the aspects of the business strategy
and the progress made towards achieving
which affect, or are affected by
them; the role of the board and
sustainability matters; any sustainability
management with regard to sustainability
targets set by the undertaking and the
matters; the principal actual and potential
progress made towards achieving them; the
adverse impacts connected with the
role of the board and management with
undertaking’s activities; and how the
regard to sustainability matters; the actual
undertaking has identified the information
and potential adverse impacts connected
that they report on. Once the disclosure of
with the undertaking’s activities; and how
elements such as targets and the progress
the undertaking has identified the
towards achieving them is required, the
information that they report on. Once the
separate requirement to disclose the
disclosure of elements such as targets and
outcomes of policies is no longer
the progress towards achieving them is
necessary.
required, the separate requirement to
disclose the outcomes of policies is no
longer necessary.
Or. en
Amendment J
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 10, 91, 92
Proposal for a directive
Recital 27
Text proposed by the Commission
Amendment
(27)
To ensure consistency with
(27)
To ensure consistency with
international instruments such as the UN
international instruments such as the UN
Guiding Principles on Business and Human
Guiding Principles on Business and Human
Rights and the OECD Due Diligence
Rights, the ILO Tripartite Declaration of
Guidance for Responsible Business
Principles concerning Multinational
Conduct, the due diligence disclosure
Enterprises and Social Policy, and the
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requirements should be specified in greater
OECD Due Diligence Guidance for
detail than is the case in Article 19a(1),
Responsible Business Conduct, the due
point (b), and Article 29a(1), point (b) of
diligence disclosure requirements should
Directive 2013/34/EU. Due diligence is the
be specified in greater detail than is the
process that undertakings carry out to
case in Article 19a(1), point (b), and
identify, prevent, mitigate and remediate
Article 29a(1), point (b) of Directive
the principal actual and potential adverse
2013/34/EU. Due diligence is the process
impacts connected with their activities and
that undertakings carry out to identify,
identifies how they address those adverse
prevent, mitigate and remediate the actual
impacts. Impacts connected with an
and potential adverse impacts connected
undertaking’s activities include impacts
with their operations and activities and
directly caused by the undertaking, impacts
identifies how they address those adverse
to which the undertaking contributes, and
impacts. Impacts connected with an
impacts which are otherwise linked to the
undertaking’s activities include impacts
undertaking’s value chain. The due
directly caused by the undertaking, impacts
diligence process concerns the whole value
to which the undertaking contributes, and
chain of the undertaking including its own
impacts which are otherwise linked to the
operations, its products and services, its
undertaking’s value chain. The due
business relationships and its supply
diligence process concerns the whole value
chains. In alignment with the UN Guiding
chain of the undertaking including its own
Principles on Business and Human Rights,
operations, its products and services, its
an actual or potential adverse impact is to
business relationships and its supply
be considered principal where it measures
chains. In alignment with the UN Guiding
among the greatest impacts connected with
Principles on Business and Human Rights,
the undertaking’s activities based on: the
an actual or potential adverse impact is to
gravity of the impact on people or the
be considered severe where it measures
environment; the number of individuals
among the greatest impacts connected with
that are or could be affected, or the scale of
the undertaking’s activities based on: the
damage to the environment; and the ease
gravity of the impact on people or the
with which the harm could be remediated,
environment; the number of individuals
restoring the environment or affected
that are or could be affected, or the scale of
people to their prior state.
damage to the environment; and the ease
with which the harm could be remediated,
restoring the environment or affected
people to their prior state.
Or. en
Amendment K
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 11
Proposal for a directive
Recital 29
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Text proposed by the Commission
Amendment
(29)
Articles 19a(1) and 29a(1) of
(29)
Articles 19a(1) and 29a(1) of
Directive 2013/34/EU do not specify
Directive 2013/34/EU do not specify
whether the information to be reported is to
whether the information to be reported is to
be forward looking or information about
be forward looking or information about
past performance. There is currently a lack
past performance. There is currently a lack
of forward-looking disclosures, which
of forward-looking disclosures, which
users of sustainability information
users of sustainability information
especially value. Articles 19a and 29a of
especially value. Articles 19a and 29a of
Directive 2013/34/EU should therefore
Directive 2013/34/EU should therefore
specify that the sustainability information
specify that the sustainability information
reported shall include forward-looking and
reported shall include forward-looking and
retrospective, and both qualitative and
retrospective, and both qualitative and
quantitative information. Reported
quantitative information. Reported
sustainability information should also take
sustainability information should also take
into account short, medium and long-term
into account short, medium and long-term
time horizons and contain information
time horizons and contain information
about the undertaking’s whole value chain,
about the undertaking’s whole value chain,
including its own operations, its products
including its own operations, its products
and services, its business relationships, and
and services, its business relationships, and
its supply chain, as appropriate.
its supply chain. Information about the
Information about the undertaking’s whole
undertaking’s whole value chain would
value chain would include information
include information related to its value
related to its value chain within the EU and
chain within the EU and information that
information that covers third countries if
covers third countries if the undertaking’s
the undertaking’s value chain extends
value chain extends outside the EU. The
outside the EU.
level of detail provided in sustainability
reports in relation to supply and value
chains should depend on a risk analysis of
potential impacts and may therefore vary
between economic activities.
Or. en
Amendment L
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 12, 97, 106, 98
Proposal for a directive
Recital 34
Text proposed by the Commission
Amendment
(34)
The European Financial Reporting
(34)
The European Financial Reporting
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Advisory Group (EFRAG) is a non-profit
Advisory Group (EFRAG) is a non-profit
association established under Belgian law
association established under Belgian law
that serves the public interest by providing
that serves the public interest by providing
advice to the Commission on the
advice to the Commission on the
endorsement of international financial
endorsement of international financial
reporting standards. EFRAG has
reporting standards. EFRAG has
established a reputation as a European
established a reputation as a European
centre of expertise on corporate reporting,
centre of expertise on corporate reporting,
and is well placed to foster coordination
and is well placed to foster coordination
between European sustainability reporting
between European sustainability reporting
standards and international initiatives that
standards and international initiatives that
seek to develop standards that are
seek to develop standards that are
consistent across the world. In March
consistent across the world. However, the
2021, a multi-stakeholder task force set up
current structure, governance and
by EFRAG published recommendations for
functioning of EFRAG does not provide
the possible development of sustainability
for the involvement of workers’
reporting standards for the European
representatives and civil society
Union. Those recommendations contain
organisations. Important changes
proposals to develop a coherent and
regarding the governance of EFRAG are
comprehensive set of reporting standards,
necessary in order to prevent all conflicts
covering all sustainability matters from a
of interests and guarantee the inclusion of
double-materiality perspective. Those
non-corporate stakeholders. In March
recommendations also contain a detailed
2021, a multi-stakeholder task force set up
roadmap for developing such standards,
by EFRAG published recommendations for
and proposals for mutually reinforcing
the possible development of sustainability
cooperation between global standard-
reporting standards for the European
setting initiatives and standard-setting
Union. Those recommendations contain
initiatives of the European Union. In
proposals to develop a coherent and
March 2021, the EFRAG President
comprehensive set of reporting standards,
published recommendations for possible
covering all sustainability matters from a
governance changes to EFRAG if it were
double-materiality perspective. Those
to be asked to develop technical advice
recommendations also contain a detailed
about sustainability reporting standards.
roadmap for developing such standards,
These recommendations include offsetting
and proposals for mutually reinforcing
up within EFRAG a new sustainability
cooperation between global standard-
reporting pillar while not significantly
setting initiatives and standard-setting
modifying the existing financial reporting
initiatives of the European Union. In
pillar. When adopting sustainability
March 2021, the EFRAG President
reporting standards, the Commission
published recommendations for possible
should take account of technical advice
governance changes to EFRAG if it were
that EFRAG will develop. In order to
to be asked to develop technical advice
ensure high-quality standards that
about sustainability reporting standards.
contribute to the European public good and
These recommendations include offsetting
meet the needs of undertakings and of
up within EFRAG a new sustainability
users of the information reported,
reporting pillar while not significantly
EFRAG’s technical advice should be
modifying the existing financial reporting
developed with proper due process, public
pillar. When adopting sustainability
oversight and transparency, accompanied
reporting standards, the Commission
by cost benefit analyses, and be developed
should take account of technical advice
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with the expertise of relevant stakeholders.
that EFRAG will develop. In order to
To ensure that Union sustainability
ensure high-quality standards that
reporting standards take account of the
contribute to the European public good and
views of the Member States of the Union,
meet the needs of undertakings and of
before adopting the standards the
users of the information reported,
Commission should consult the Member
EFRAG’s technical advice should be
State Expert Group on Sustainable Finance
developed with proper due process, public
referred to in Article 24 of Regulation (EU)
oversight and transparency, accompanied
2020/852 on EFRAG’s technical advice.
by cost benefit analyses, and be developed
The European Securities and Markets
in consultation with relevant stakeholders,
Authority (ESMA) plays a role in drafting
including the social partners, NGOs and
regulatory technical standards pursuant to
consumer organisations, who should be
Regulation (EU) 2019/2088 and there
able to participate in the standard setting
needs to be coherence between those
process on equal footing and without fees.
regulatory technical standards and
To ensure that Union sustainability
sustainability reporting standards.
reporting standards take account of the
According to Regulation (EU) No
views of the Member States of the Union,
1095/2010 of the European Parliament and
before adopting the standards the
of the Council54 , ESMA also plays a role
Commission should consult the Member
in promoting supervisory converge in the
State Expert Group on Sustainable Finance
enforcement of corporate reporting by
referred to in Article 24 of Regulation (EU)
issuers whose securities are listed on EU
2020/852 on EFRAG’s technical advice.
regulated markets and who will be required
The European Securities and Markets
to use these sustainability reporting
Authority (ESMA) plays a role in drafting
standards. Therefore, ESMA should be
regulatory technical standards pursuant to
required to provide an opinion on
Regulation (EU) 2019/2088 and there
EFRAG’s technical advice. This opinion
needs to be coherence between those
should be provided within two months
regulatory technical standards and
from the date of receipt of the request from
sustainability reporting standards.
the Commission. In addition, the
According to Regulation (EU) No
Commission should consult the European
1095/2010of the European Parliament and
Banking Authority, the European Insurance
of the Council54 , ESMA also plays arole
and Occupational Pensions Authority, the
in promoting supervisory converge in the
European Environment Agency, the
enforcement of corporate reporting by
European Union Agency for Fundamental
issuers whose securities are listed on EU
Rights, the European Central Bank, the
regulated markets and who will be required
Committee of European Auditing
to use these sustainability reporting
Oversight Bodies and the Platform on
standards. Therefore, ESMA should be
Sustainable Finance to ensure that the
required to provide an opinion on
sustainability reporting standards are
EFRAG’s technical advice. This opinion
coherent with relevant Union policy and
should be provided within two months
legislation. Where any of those bodies
from the date of receipt of the request from
decide to submit an opinion, they shall do
the Commission. In addition, the
so within two months from the date of
Commission should consult the European
being consulted by the Commission.
Banking Authority, the European Insurance
and Occupational Pensions Authority, the
European Environment Agency, the
European Union Agency for Fundamental
Rights, European Foundation for the
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Improvement of Living and Working
Conditions, the European Agency for
Safety and Health at Work, the European
Institute for Gender Equality, the
European Central Bank, the Committee of
European Auditing Oversight Bodies and
the Platform on Sustainable Finance, as
well as relevant stakeholders, in
particular trade unions and civil society
organisations, to ensure that the
sustainability reporting standards are
coherent with relevant Union policy and
legislation. Where any of those bodies
decide to submit an opinion, they shall do
so within two months from the date of
being consulted by the Commission.
__________________
__________________
54 Regulation (EU) No 1095/2010 of the
54 Regulation (EU) No 1095/2010 of the
European Parliament and of the Council of
European Parliament and of the Council of
24 November 2010 establishing a
24 November 2010 establishing a
European Supervisory Authority (European
European Supervisory Authority (European
Securities and Markets Authority),
Securities and Markets Authority),
amending Decision No 716/2009/EC and
amending Decision No 716/2009/EC and
repealing Commission Decision
repealing Commission Decision
2009/77/EC (OJ L 331, 15.12.2010, p. 84).
2009/77/EC (OJ L 331, 15.12.2010, p. 84).
Or. en
Amendment M
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 13, 105-112
Proposal for a directive
Recital 43
Text proposed by the Commission
Amendment
(43)
Sustainability reporting standards
(43)
Sustainability reporting standards
should specify the information that
should specify the information that
undertakings should disclose on social
undertakings should disclose on social
factors, including employee factors and
factors, including working conditions,
human rights. Such information should
workers' rights, social partner
cover the impacts of undertakings on
involvement, collective bargaining,
people, including on human health. The
equality, non-discrimination, prevention
information that undertakings disclose
of workplace violence and harassment
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about human rights should include
diversity and inclusion, and human rights.
information about forced labour in their
Such information should be disclosed
value chains where relevant. Reporting
country-by country, where relevant, in
standards that address social factors should
close consultation with trade unions and
specify the information that undertakings
worker’s representatives and cover the
should disclose with regard to the
impacts of undertakings on its workers,
principles of the European Pillar of Social
people and on human health. Where the
Rights that are relevant to businesses,
administrative or management body of the
including equal opportunities for all and
undertaking receives an opinion on the
working conditions. The European Pillar of
sustainability report from the
Social Rights Action Plan adopted in
representatives of workers, it should
March 2021 calls for stronger requirements
append that opinion to the sustainability
on undertakings to report on social issues.
report, if this is provided for under
The reporting standards should also specify
national law and practices. The
the information that undertakings should
information that undertakings disclose
disclose with regard to the human rights,
about human rights should include
fundamental freedoms, democratic
information about forced labour and child
principles and standards established in the
labour in their value chains where relevant.
International Bill of Human Rights and
Reporting requirements on forced labour
other core UN human rights conventions,
should not replace the public authorities’
the International Labour Organization’s
responsibility to address import of goods,
Declaration on Fundamental Principles and
produced as a result of human rights
Rights at Work, the fundamental
abuses, including forced labour, through
conventions of the International Labour
trade policy and diplomatic means.
Organisation, and the Charter of
Undertakings may also report on possible
Fundamental Rights of the European
risks and negative trends regarding
Union.
employment and incomes due to the
absence of a just transition process.
Reporting standards that address social
factors should specify the information that
undertakings should disclose with regard to
the 20 principles of the European Pillar of
Social Rights, particularly equal
opportunities for all and fair working
conditions. The European Pillar of Social
Rights Action Plan adopted in March 2021
calls for stronger requirements on
undertakings to report on social issues. The
reporting standards should also specify the
information that undertakings should
disclose with regard to the human rights,
fundamental freedoms, democratic
principles and standards established in the
International Bill of Human Rights and
other core UN human rights conventions,
including the UN Convention on the
Rights of Persons with Disabilities, the
UN Declaration on the Rights of
Indigenous Peoples, the UN Convention
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on the Rights of the Child, the
International Labour Organization’s
Declaration on Fundamental Principles and
Rights at Work, the fundamental
conventions of the International Labour
Organisation, the International Labour
Organization's Tripartite Declaration of
Principles concerning Multinational
Enterprises and Social Policy, including
the list of relevant standards under its
Annex I, the European Convention of
Human Rights, the (revised) European
Social Charter, the Charter of
Fundamental Rights of the European Union
and the OECD Guidelines for
Multinational Enterprises. The reporting
on social factors should be proportionate
to the scope and the goals of this
Directive.
Or. en
Amendment N
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 14, 54, 113
Proposal for a directive
Recital 44
Text proposed by the Commission
Amendment
(44)
Users need information about
(44)
Users need information about
governance factors, including information
governance factors, including information
on the role of an undertaking’s
on the role of an undertaking’s
administrative, management and
administrative, management and
supervisory bodies, including with regard
supervisory bodies, including with regard
to sustainability matters, the composition
to sustainability matters, the composition
of such bodies, and an undertaking’s
of such bodies, particularly with regard to
internal control and risk management
workers' and women's participation, and
systems, including in relation to the
an undertaking’s internal control and risk
reporting process. Users also need
management systems, including in relation
information about undertakings’ corporate
to the reporting process. Diversity on
culture and approach to business ethics,
company boards contributes to better
including anti-corruption and anti-bribery,
decision making, corporate governance
and about their political engagements,
and resilience1a. Users also need
including lobbying activities. Information
information about undertakings’ corporate
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about the management of the undertaking
culture approach to business ethics,
and the quality of relationships with
including anti-corruption and anti-bribery,
business partners, including payment
and about their political engagements,
practices relating to the date or period for
including lobbying activities.
payment, the rate of interest for late
Undertakings shall also provide
payment or the compensation for recovery
information on the CEO to worker pay
costs referred to in Directive 2011/7/EU of
ratio. Information about the management
the European Parliament and of the
of the undertaking and the quality of
Council62 on late payment in commercial
relationships with business partners,
transactions, helps users to understand an
including payment practices relating to the
undertaking’s risks as well as its impacts
date or period for payment, the rate of
on sustainability matters. Every year,
interest for late payment or the
thousands of businesses, especially SMEs,
compensation for recovery costs referred to
suffer administrative and financial burdens
in Directive 2011/7/EU of the European
because they are paid late, or not at all.
Parliament and of the Council62 on late
Ultimately, late payments lead to
payment in commercial transactions, helps
insolvency and bankruptcy, with
users to understand an undertaking’s risks
destructive effects on entire value chains.
as well as its impacts on sustainability
Increasing information about payment
matters. Every year, thousands of
practices should empower other
businesses, especially SMEs, suffer
undertakings to identify prompt and
administrative and financial burdens
reliable payers, detect unfair payment
because they are paid late, or not at all.
practices, access information about the
Ultimately, late payments lead to
businesses they trade with, and negotiate
insolvency and bankruptcy, with
fairer payment terms.
destructive effects on entire value chains.
Increasing information about payment
practices should empower other
undertakings to identify prompt and
reliable payers, detect unfair payment
practices, access information about the
businesses they trade with, and negotiate
fairer payment terms.
__________________
__________________
1a COM(2020) Communication from the
Commission to the European Parliament,
the Council, the European Economic and
Social Committee and the Committee of
the Regions A Union of Equality: Gender
Equality: Strategy2020-2025,5.3.2020
62 Directive 2011/7/EU of the European
62 Directive 2011/7/EU of the European
Parliament and of the Council of 16
Parliament and of the Council of 16
February 2011 on combating late payment
February 2011 on combating late payment
in commercial transactions (OJ L 48,
in commercial transactions (OJ L 48,
23.2.2011, p. 1).
23.2.2011, p. 1).
Or. en
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Amendment O
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 16, 116, 117
Proposal for a directive
Recital 48
Text proposed by the Commission
Amendment
(48)
Directive 2013/34/EU does not
(48)
Directive 2013/34/EU does not
require that the financial statements or the
require that the financial statements or the
management report are provided in a
management report are provided in a
digital format, which hinders the
digital format, which hinders the
findability and usability of the reported
findability and usability of the reported
information. Users of sustainability
information. Users of sustainability
information increasingly expect such
information increasingly expect such
information to be findable and machine-
information to be findable and machine-
readable in digital formats. Digitalisation
readable in digital formats and fully
creates opportunities to exploit information
accessible, including for persons with
more efficiently and holds the potential for
disabilities, as per the Directive 2019/882
significant cost savings for both users and
on the accessibility requirements for
undertakings. Undertakings should
products and services. Digitalisation
therefore be required to prepare their
creates opportunities to exploit information
financial statements and their management
more efficiently and holds the potential for
report in XHTML format in accordance
significant cost savings for both users and
with Article 3 of Commission Delegated
undertakings. Undertakings should
Regulation (EU) 2019/815,63 and to mark-
therefore be required to prepare their
up sustainability information, including the
financial statements and their management
disclosures required by Article 8 of
report in XHTML format in accordance
Regulation (EU) 2020/852, in accordance
with Article 3 of Commission Delegated
with that Delegated Regulation. A digital
Regulation (EU) 2019/815,63 and to mark-
taxonomy to the Union sustainability
up sustainability information, including the
reporting standards will be necessary to
disclosures required by Article 8 of
allow for the information reported to be
Regulation (EU) 2020/852, in accordance
tagged in accordance with those standards.
with that Delegated Regulation. A digital
These requirements should feed into the
taxonomy to the Union sustainability
work on digitalisation announced by the
reporting standards will be necessary to
Commission in its Communication A
allow for the information reported to be
European strategy for data64 and in the
tagged in accordance with those standards.
Digital Finance Strategy for the EU.65
These requirements should feed into the
These requirements also complement the
work on digitalisation announced by the
creation of a European single access point
Commission in its Communication A
for public corporate information as
European strategy for data64 and in the
envisaged in the capital markets union
Digital Finance Strategy for the EU65.
action plan, which also considers the need
These requirements also complement the
for structured data.
creation of a European single access point
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for public corporate information as
envisaged in the capital markets union
action plan, which also considers the need
for structured data.
__________________
__________________
63 Commission Delegated Regulation (EU)
63 Commission Delegated Regulation (EU)
2018/815 of 17 December 2018
2018/815 of 17 December 2018
supplementing Directive 2004/109/EC of
supplementing Directive 2004/109/EC of
the European Parliament and of the
the European Parliament and of the
Council with regard to regulatory technical
Council with regard to regulatory technical
standards on the specification of a single
standards on the specification of a single
electronic reporting format (OJ L 143,
electronic reporting format (OJ L 143,
29.5.2019, p. 1).
29.5.2019, p. 1).
64 https://ec.europa.eu/digital-single-
64 https://ec.europa.eu/digital-single-
market/en/european-strategy-data
market/en/european-strategy-data
65
65
https://ec.europa.eu/info/publications/2009
https://ec.europa.eu/info/publications/2009
24-digital-finance-proposals_en
24-digital-finance-proposals_en
Or. en
Amendment P
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 17, 119, 118
Proposal for a directive
Recital 51
Text proposed by the Commission
Amendment
(51)
Article 20 of Directive 2013/34/EU
(51)
Article 20 of Directive 2013/34/EU
requires undertakings with securities listed
requires undertakings with securities listed
on regulated markets to include a corporate
on regulated markets to include a corporate
governance statement in their management
governance statement in their management
report, which has to contain among other
report, which has to contain among other
information a description of the diversity
information a description of the diversity
policy applied by the undertaking in
policy applied by the undertaking in
relation to its administrative, management
relation to its administrative, management
and supervisory bodies. Article 20 of
and supervisory bodies. Article 20 of
Directive 2013/34/EU leaves flexibility to
Directive 2013/34/EU leaves flexibility to
undertakings to decide what aspects of
undertakings to decide what aspects of
diversity they report on. It does not
diversity they report on. It does not
explicitly oblige undertakings to include
explicitly oblige undertakings to include
information on any particular aspect of
information on any particular aspect of
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diversity. In order progress towards a more
diversity. In order progress towards a more
gender-balanced participation in economic
gender-balanced participation in economic
decision-making, it is necessary to ensure
decision-making and gender equality in
that undertakings with securities listed on
general, it is necessary to ensure that
regulated markets always report on their
undertakings with securities listed on
gender diversity policies and the
regulated markets always report on their
implementation thereof. However, to avoid
gender diversity policies and the
unnecessary administrative burden, those
implementation thereof, in particular with
undertakings should have the possibility to
respect to reaching at least 40 per cent
report some of the information required by
representation in company boards and
Article 20 of Directive 2013/34/EU
compliance with pay transparency
alongside other sustainability-related
requirements. However, to avoid
information.
unnecessary administrative burden, those
undertakings should have the possibility to
report some of the information required by
Article 20 of Directive 2013/34/EU
alongside other sustainability-related
information.
Or. en
Amendment Q
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 18, 122-124
Proposal for a directive
Recital 71
Text proposed by the Commission
Amendment
(71)
Member States are invited to assess
(71)
Member States are invited to assess
the impact of their transposition act on
the impact of their transposition act on
SMEs in order to ensure that they are not
SMEs in order to ensure that they are not
disproportionately affected, giving specific
disproportionately affected, giving specific
attention to micro-enterprises and to the
attention to micro-enterprises and to
administrative burden, and to publish the
unreasonable administrative burden, and
results of such assessments. Member States
to publish the results of such assessments.
should consider introducing measures to
Member States should introduce measures
support SMEs in applying the voluntary
to support undertakings, in particular
simplified reporting standards.
SMEs, in applying the reporting standards.
Or. en
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Amendment 1
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 125, 19, 20, 126, 127, 185, 186, 228, 46
and 49
Proposal for a directive
Article 1 – paragraph 1 – point 1 – introductory part
Directive 2013/34/EU
Article 1 – paragraph 3
Text proposed by the Commission
Amendment
(1)
in Article 1, the following
(1)
in Article 1, the following
paragraph 3 is added:
paragraph 3 and 4 are added:
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 1
Directive 2013/34/EU
Article 1 – paragraph 3 – introductory part
Text proposed by the Commission
Amendment
3.
The coordination measures
3.
The coordination measures
prescribed by Articles 19a, 19d, 29a, 30
prescribed by Articles 19a, 19d, 29a, 30
and 33, Article 34(1), second
and 33, Article 34(1), second
subparagraph, point (aa), paragraphs 2 and
subparagraph, point (aa), paragraphs 2 and
3 of Article 34, and Article 51 of this
3 of Article 34, and Article 51 of this
Directive shall also apply to the laws,
Directive shall also apply to the laws,
regulations and administrative provisions
regulations and administrative provisions
of the Member States relating to the
of the Member States relating to the
following undertakings regardless of their
following undertakings, provided that they
legal form:
meet the criteria for the undertakings
defined in Article 19a(1) regardless of
their legal form:
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 1
Directive 2013/34/EU
Article 1 – paragraph 3 a (new)
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Text proposed by the Commission
Amendment
3 a.
The Commission shall be
empowered to adopt delegated acts in
accordance with Article 49 to establish
and amend the list of high-risk economic
activity sectors set out in Article 2, point
(20a).
The list shall take into account the work
of the Platform on Sustainable Finance
established in accordance with Article 20
of Regulation (EU) 2020/852, existing EU
sector-specific legislation, sector-specific
disclosures in recognised international
reporting frameworks such as the GRI,
the OECD Due Diligence Guidance for
Responsible Business Conduct and
research and data from relevant EU
agencies, such as Eurofound and OSHA.
The definitions of the list shall take into
account the NACE classification.
When establishing the list, the
Commission shall take into consideration
the following non-exhaustive list of high-
risk economic activity sectors:
 Minerals
 Garments and footwear
 Agriculture
 Extractiveindustries
 Financial1a
The European Commission shall
guarantee the meaningful participation of
stakeholders, including trade unions and
civil society organisations, in the process
of the establishment and amendment of
the list.
The power to adopt a delegated acts shall
be conferred on the Commission for a
period of three years from … [date of
entry into force of the basic legislative act
or any other date set by the co-legislators].
The Commission shall draw up a report in
respect of the delegation of power not
later than nine months before the end of
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the three-year period. The delegation of
power shall be tacitly extended for periods
of an identical duration, unless the
European Parliament or the Council
opposes such extension not later than
three months before the end of each
period;
__________________
1a OECD
Or. en
Amendment 2
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 21, 22, 23, 128, 129
Proposal for a directive
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Article 2 – paragraph 20 a (new)
Text proposed by the Commission
Amendment
(20 a) high-risk economic activity sector
means activities that are associated with a
high likelihood of actual or potential
impacts on sustainability matters;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 2
Directive 2013/34/EU
Article 2 – paragraph 20 c (new)
Text proposed by the Commission
Amendment
(20b) Severe impacts are adverse
impacts on people and the environment
linked to the undertaking’s own
operations, its products and services, its
business relationships and its subsidiaries,
based on the gravity of the impact on the
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sustainability matter, the number of
individuals that are or could be affected,
or the scale of the damage to the
environment; the ease with which the
harm could be remediated, restoring the
environment or affected people to their
prior state; and which cause the greatest
harm relative to other impacts the
undertaking has identified1a;
__________________
1a Definition of severe impacts is based on
the UN Guiding Principles for Business
and Human Rights (Principles 21, 24)
and the OECD Guidance for Due
Diligence(page 42)
Or. en
Amendment 3
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 134, 135, 133, 130, 131, 132, 24, 25, 136,
138, 30, 177 and 257
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 1
Text proposed by the Commission
Amendment
1.
Large undertakings and, as of 1
1.
Large undertakings and, as of 1
January 2026, small and medium-sized
January 2026, small and medium-sized
undertakings which are undertakings
undertakings which are undertakings
referred to in Article 2, point (1), point (a),
referred to in Article 2, point (1), point (a),
shall include in the management report
medium-sized undertakings operating in
information necessary to understand the
high-risk economic activity sectors ,
undertaking’s impacts on sustainability
undertakings registered in a non-EU/EEA
matters, and information necessary to
country with significant business in the
understand how sustainability matters
EU and public interest entities shall
affect the undertaking’s development,
include in the management report
performance and position.
information necessary to understand the
undertaking’s impacts on sustainability
matters, and information necessary to
understand how sustainability matters
affect the undertaking’s development,
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performance and position.
Or. en
Amendment 4
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 141, 142, 148, 26, 152 and 153
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19 a – paragraph 2 – subparagraph 1 – point a – point ii
Text proposed by the Commission
Amendment
(ii)
the opportunities for the
(ii)
the opportunities, weaknesses and
undertaking related to sustainability
risks for the undertaking related to
matters;
sustainability matters;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19 a – paragraph 2 – subparagraph 1 – point a – point ii
Text proposed by the Commission
Amendment
(ii a)
the assessment by the undertaking
of its impacts on sustainability matters;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19 a – paragraph 2 – subparagraph 1 – point a – point ii
Text proposed by the Commission
Amendment
(ii b)
the plans of the undertaking to
ensure that its business model and
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strategy are consistent with securing
employment in the EU and promoting fair
working conditions as defined in the
European Pillar of Social Rights;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point a – point iv
Text proposed by the Commission
Amendment
(iv)
how the undertaking’s business
(iv)
how the undertaking’s business
model and strategy take account of the
model and strategy take account of the
interests of the undertaking’s stakeholders
interests of the undertaking’s stakeholders,
and of the impacts of the undertaking on
in particular trade unions and workers
sustainability matters;
representatives, and of the impacts of the
undertaking on sustainability matters;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – subparagraph 1 – point b
Text proposed by the Commission
Amendment
(c)
a description of the role of the
(c)
a description of the role of the
administrative, management and
administrative, management and
supervisory bodies with regard to
supervisory bodies with regard to
sustainability matters;
sustainability matters, including with
regard to:
(c a)
(i) their engagement in the
analysis of main risks and opportunities
for the undertaking;
(c b)
(ii) approval of the undertaking’s
strategy and targets and the financial
resources for their implementation;
(c c)
(iii) specific oversight on the
implementation of the undertaking’s
strategy;
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(c d)
(iv) expertise on sustainability
matters;
Or. en
Amendment 5
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 27, 147, 155, 156, 157, 158, 159, 160,
162, 166, 167, 28, 172 and 188
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – subparagraph 1 – point e – point i
Text proposed by the Commission
Amendment
(i)
the due diligence process
(i)
the due diligence process, as
implemented with regard to sustainability
defined under EU and international
matters;
standards, implemented with regard to
sustainability matters as defined under
article 19 b.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – point e – point ii
Text proposed by the Commission
Amendment
(ii)
the principal actual or potential
(ii)
the actual or potential adverse
adverse impacts connected with the
impacts connected with the undertaking’s
undertaking’s value chain, including its
value chain as identified through the due
own operations, its products and services,
diligence process, including its own
its business relationships and its supply
operations, its products and services, its
chain;
business relationships and its supply chain;
Or. en
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Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 2 – subparagraph 1 – point e – point iii a (new)
Text proposed by the Commission
Amendment
(iii a) any measures providing for
vocational training and upskilling in
relation to restructuring, particularly in
vulnerable regions and sectors;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 3 – subparagraph 2
Text proposed by the Commission
Amendment
Where appropriate, the information
The information referred to in paragraphs 1
referred to in paragraphs 1 and 2 shall
and 2 shall contain information about the
contain information about the
undertaking’s value chain, including the
undertaking’s value chain, including the
undertaking’s own operations, workforce,
undertaking’s own operations, products
products and services, its business
and services, its business relationships and
relationships and its supply chain, and
its supply chain.
where relevant its investments and assets.
The undertaking shall adjust reporting on
its supply and value chain based on a risk
analysis of potential impacts. The
Commission shall be empowered to adopt
a delegated act to provide criteria for
establishing this risk analysis based on
existing EU legislation and relevant
international standards;
Or. en
Amendment 6
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 168, 169, 170, 174, 175, 30, 177, 179,
180, 181, 182, 183, 33 and 34
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Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 3 – subparagraph 4
Text proposed by the Commission
Amendment
Member States may allow information
Member States may allow limited
relating to impending developments or
information relating to impending
matters in the course of negotiation to be
developments or matters in the course of
omitted in exceptional cases where, in the
negotiation to be omitted in exceptional
duly justified opinion of the members of
cases where, in the duly justified opinion
the administrative, management and
of the members of the administrative,
supervisory bodies, acting within the
management and supervisory bodies,
competences assigned to them by national
acting within the competences assigned to
law and having collective responsibility for
them by national law and having collective
that opinion, the disclosure of such
responsibility for that opinion, the public
information would be seriously prejudicial
disclosure of such information would be
to the commercial position of the
seriously prejudicial to the commercial
undertaking, provided that such omission
position of the undertaking, provided that
does not prevent a fair and balanced under-
such omission does not prevent a fair and
standing of the undertaking's development,
balanced understanding of the
performance, position and impact of its
undertaking's development, performance,
activity.
position and impact of its activity and may
be reviewed by competent national
authorities as defined by national law.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 5
Text proposed by the Commission
Amendment
5.
By way of derogation from Article
5.
Medium sized undertakings in
19a, paragraphs 1 to 4, small and medium
high-risk economic activity sectors shall
sized undertakings referred to in Article 2,
report in accordance with the
point (1), point (a), may report in
sustainability reporting standards referred
accordance with the sustainability
to in Article 19c. Small undertakings may
reporting standards for small and medium
report in accordance with the sustainability
sized undertakings referred to in Article
reporting standards referred to in Article
19c.
19c.
Or. en
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Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 1
Text proposed by the Commission
Amendment
7.
An undertaking which is a
deleted
subsidiary undertaking shall be exempted
from the obligations set out in paragraphs
1 to 4 if that undertaking and its
subsidiary undertakings are included in
the consolidated management report of a
parent undertaking, drawn up in
accordance with Articles 29 and 29a. An
undertaking that is a subsidiary
undertaking from a parent undertaking
that is established in a third country shall
also be exempted from the obligations set
out in paragraphs 1 to 4 where that
undertaking and its subsidiary
undertakings are included in the
consolidated management report of that
parent undertaking and where the
consolidated management report is drawn
up in a manner that may be considered
equivalent, in accordance with the
relevant implementing measures adopted
pursuant to Article 23(4), point (i), of
Directive 2004/109/EC of the European
Parliament and of the Council*6, to the
manner required by the sustainability
reporting standards referred to in Article
19b of this Directive.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Amendments to Directive 2013/34/EU
Article 19a – paragraph 7 – subparagraph 2
Text proposed by the Commission
Amendment
The consolidated management report of the
The consolidated management report of the
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parent undertaking referred to in
parent undertaking shall be published in
subparagraph 1 shall be published in
accordance with Article 30, in the manner
accordance with Article 30, in the manner
prescribed by the law of the Member State
prescribed by the law of the Member State
by which the parent undertaking which
by which the undertaking that is exempted
meets the requirements referred to in
from the obligations set out in paragraphs
paragraphs 1 to 4 is governed.
1 to 4 is governed.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Amendments to Directive 2013/34/EU
Article 19a
Text proposed by the Commission
Amendment
The Member State by which the
The Member State by which the parent
undertaking that is exempted from the
undertaking which meets the requirements
obligations set out in paragraphs 1 to 4 is
referred to in paragraphs 1 to 4 is governed
governed, may require that the
may require that the consolidated
consolidated management report referred
management report is published in its
to in the first subparagraph of this
official language or in a language
paragraph is published in an official
customary in the sphere of international
language of the Member State or in a
finance.
language customary in the sphere of
international finance, and that any
necessary translation into those
languages is certified.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a
Text proposed by the Commission
Amendment
The management report of an undertaking
The consolidated management report of a
that is exempted from the obligations set
parent undertaking which meets the
out in paragraphs 1 to 4 shall contain all of
requirements referred to in paragraphs 1
the following information:
to 4 shall contain all of the following
information:
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Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a
Text proposed by the Commission
Amendment
(a)
the name and registered office of
(a)
the name and registered office of
the parent undertaking that reports
the parent undertaking that reports
information at group level in accordance
information at group level in accordance
with Articles 29 and 29a, or in a manner
with Articles 29 and this Article, or in a
that may be considered equivalent, in
manner that may be considered equivalent,
accordance with the implementing
in accordance with the relevant
measures adopted pursuant to Article
implementing measures adopted pursuant
23(4), point (i) of Directive 2004/109/EC,
to Article 23(4)(i) of Directive
to the manner required by the sustainability
2004/109/EC, to the manner required by
reporting standards referred to in Article
the sustainability standards adopted
19b;
pursuant to Article 19b;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a
Text proposed by the Commission
Amendment
(b)
the fact that the undertaking is
(b)
the fact that the undertaking is
exempted from the obligations set out in
exempted from the obligations set out in
paragraphs 1 to 4 of this Article.
paragraph 2 (c) and (d)’;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 3
Directive 2013/34/EU
Article 19a
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Text proposed by the Commission
Amendment
(c)
the name of each consolidated
entity.
Or. en
Amendment 7
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 187, 35, 188, 189, 191, 36, 192, 193, 194,
195, 199, 200, 201, 203, 206, 213, 40, 215, 220, 218 and 219
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 1 – subparagraph 1 – point b – point ii
Text proposed by the Commission
Amendment
(ii)
information that undertakings shall
(ii)
information that undertakings shall
report that is specific to the sector in which
report that is specific to the sector in which
they operate.
they operate, in particular the high-risk
economic activity sectors.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19 b – paragraph 1 – subparagraph 1 – point b – point ii b (new)
Text proposed by the Commission
Amendment
(ii a)
the implementing rules for
sustainability reporting for undertakings
referred to in Article 3(7), which are
governed by the law of a third country
and are not established in the territory of
the Union when they operate in the
internal market selling goods or providing
services.
Or. en
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Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Articel 19b – paragraph 1 – subparagraph 2
Text proposed by the Commission
Amendment
The Commission shall, at least every three
The Commission shall, at least every three
years after its date of application, review
years after its date of application, review
any delegated act adopted pursuant to this
any delegated act adopted pursuant to this
Article, taking into consideration the
Article, taking into consideration the
technical advice of the European Financial
technical advice of the European Financial
Reporting Advisory Group (EFRAG), and
Reporting Advisory Group (EFRAG), the
where necessary shall amend such
Fundamental Rights Agency, the
delegated act to take into account relevant
European Foundation for Living and
developments, including developments
Working Conditions, the European
with regard to international standards.
Agency for Safety and Health at Work,
the European Institute for Gender
Equality, and relevant stakeholders,
including trade unions and civil society
organisations at the European and
national level, and where necessary shall
amend such delegated act to take into
account relevant developments, including
developments with regard to international
standards.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 1
Text proposed by the Commission
Amendment
2.
The sustainability reporting
2.
The sustainability reporting
standards referred to in paragraph 1 shall
standards referred to in paragraph 1 shall
require that the information to be reported
require that the information to be reported
is understandable, relevant, representative,
is understandable, accessible in particular
verifiable, comparable, and is represented
for persons with disabilities relevant,
in a faithful manner.
representative, verifiable, comparable, and
is represented in a faithful manner.
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Or. en
Amendment 8
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 37, 197, 198, 201, 202, 204, 38, 205, 206,
207, 208, 209, 211, 39, 212, 213, 40, 214, 215, 216, 217, 41, 42, 221, 222, 223, 224 and 225
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point i
Text proposed by the Commission
Amendment
(i)
equal opportunities for all,
(i)
equal treatment and opportunities
including gender equality and equal pay for
for all, including gender equality and equal
equal work, training and skills
pay for work of equal value, diversity at all
development, and employment and
levels, as defined under existing EU
inclusion of people with disabilities;
legislation, pay transparency, measures
against violence and harassment, training
and skills development, in particular the
rate and breakdown of workers
participating in training and employment
and inclusion of people with disabilities,
specifying information on accessibility
measures on a country-by-country basis,
where relevant;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19 b – paragraph 2 – subparagraph 2 – point b – point i b (new)
Text proposed by the Commission
Amendment
(i a)
the size of the workforce including
through its operations and business
activities, disaggregated by gender, on a
country-by-country basis, where relevant;
Or. en
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Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19 b – paragraph 2 – subparagraph 2 – point b – point i b (new)
Text proposed by the Commission
Amendment
(i b)
existence of collective agreements
and the coverage of workers therein, and
the existence of work councils, including
international work councils, in
accordance with applicable law and
practice;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point ii
Text proposed by the Commission
Amendment
(ii)
working conditions, including
(ii)
working conditions, including
secure and adaptable employment, wages,
secure employment, adequate and fair
social dialogue, collective bargaining and
wages, working time, social dialogue,
the involvement of workers, work-life
freedom of association, collective
balance, and a healthy, safe and well-
bargaining and the information,
adapted work environment;
consultation and participation rights of
workers, including with regard to their
participation in administrative and
supervisory boards, work-life balance,
maternity, paternity and parental leave,
and a health and safety, and the rate of
workers injured and sick at work;
In accordance with the EU labour law
acquis and national law and practice, the
central management shall consult with
the trade unions and workers'
representatives at the beginning of the
reporting period on the design of the
reporting system, including the indicators
included and the means of obtaining and
verifying sustainability information.
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Central management shall also consult
trade unions and workers' representatives
in the identification of risks and impacts
of the undertaking on the environment
and people.
Workers' representatives shall be provided
with the necessary resources to ensure the
effective exercise of the rights arising
from this Directive. This shall include the
support of an expert, where this is in line
with national law and practice.
Member States shall ensure that workers'
rights to information and consultation are
respected in relation to sustainability
reporting and are exercised in accordance
with the existing EU legal framework,
such as Directive 2002/14/EC, Directive
2009/38/EC, Directive 2001/86/ EC and
2003/ 72/ EC.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point iii
Text proposed by the Commission
Amendment
(iii)
respect for the human rights,
(iii)
respect for the human rights,
fundamental freedoms, democratic
fundamental freedoms, democratic
principles and standards established in the
principles and standards established in the
International Bill of Human Rights and
International Bill of Human Rights, the UN
other core UN human rights conventions,
Guiding Principles on Business and
the International Labour Organization’s
Human Rights and other core UN human
Declaration on Fundamental Principles and
rights conventions, including the UN
Rights at Work and the ILO fundamental
Convention on Persons with Disabilities,
conventions and the Charter of
the UN Declaration on the Rights of
Fundamental Rights of the European
Indigenous Peoples, the International
Union.
Labour Organization’s Declaration on
Fundamental Principles and Rights at
Work and the ILO fundamental and
governance conventions, the International
Labour Organization's Tripartite
Declaration of Principles concerning
Multinational Enterprises and Social
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Policy, the European Convention of
Human Rights, the revised European
Social Charter, the Charter of
Fundamental Rights of the European
Union, the OECD Guidelines on
Multinational Enterprises and the EU
labour law acquis.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point b – point iii a (new)
Text proposed by the Commission
Amendment
(iii a) human rights impact assessments
carried out by the relevant public
authorities and the undertaking with
respect to sustainability matters as defined
under this Directive.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point c – point ii
Text proposed by the Commission
Amendment
(ii)
business ethics and corporate
(ii)
business ethics and corporate
culture, including anti-corruption and anti-
culture, including the assessment of
bribery;
corruption risks and anti-corruption and
anti-bribery programmes, and
whistleblowing procedures and results;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
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Directive 2013/34/EU
Article 19b – paragraph 2 – subparagraph 2 – point c – point v a (new)
Text proposed by the Commission
Amendment
(v a)
the undertaking’s engagement
with relevant stakeholders1a,in particular
civil society, on sustainability matters and
the undertaking’s social purpose;
__________________
1a OECD Guidance Due Diligence for
Responsible Business Conduct, p. 48
Or. en
Amendment 9
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 227, 228, 230, 229 and 45
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19c – paragraph 1
Text proposed by the Commission
Amendment
The Commission shall adopt delegated acts
The Commission shall adopt, by 31
in accordance with Article 49 to provide
October 2024 at the latest, delegated acts
for sustainability reporting standards
in accordance with Article 49 to provide
proportionate to the capacities and
for sustainability reporting standards
characteristics of small and medium-sized
proportionate to the capacities and
undertakings. Those sustainability
characteristics of small and medium-sized
reporting standards shall specify which
undertakings. Those sustainability
information referred to in Articles 19a and
reporting standards shall specify how
29a small and medium-sized undertakings
SMEs shall report on information referred
referred to in Article 2, point (1)(a) shall
to in Articles 19a and 29a. They shall take
report. They shall take into account the
into account the criteria set out in Article
criteria set out in Article 19b, paragraphs 2
19b, paragraphs 2 and 3. They shall also,
and 3. They shall also, where relevant,
where relevant, specify the structure in
specify the structure in which that
which that information shall be reported.
information shall be reported.
Or. en
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Amendment 10
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 231, 232, 46 and 233
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19d – paragraph 1
Text proposed by the Commission
Amendment
1.
Undertakings subject to Article 19a
1.
Undertakings subject to Article 19a
shall prepare their financial statements and
shall prepare their financial statements and
their management report in a single
their management report in a single
electronic reporting format in accordance
electronic reporting format in accordance
with Article 3 of Commission Delegated
with Article 3 of Commission Delegated
Regulation (EU) 2019/815*15 and shall
Regulation (EU) 2019/815*15, Directive
mark-up their sustainability reporting,
2019/882 and shall mark-up their
including the disclosures laid down in
sustainability reporting, including the
Article 8 of Regulation (EU) 2020/852, in
disclosures laid down in Article 8 of
accordance with that Delegated Regulation.
Regulation (EU) 2020/852, in accordance
with that Delegated Regulation.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
Directive 2013/34/EU
Article 19d – paragraph 1 a (new)
Text proposed by the Commission
Amendment
1 a.
Electronic financial statements
and management reports shall follow
relevant access requirements laid down in
the Directive 2019/882 on the accessibility
requirements for products and services in
order to become accessible for wider
audiences.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 4
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Directive 2013/34/EU
Article 19d – paragraph 2
Text proposed by the Commission
Amendment
2.
Undertakings subject to Article 29a
2.
Undertakings subject to Article 29a
shall prepare their consolidated financial
shall prepare their consolidated financial
statements and their consolidated
statements and their consolidated
management report in a single electronic
management report in a single electronic
reporting format in accordance with Article
reporting format in accordance with Article
3 of Delegated Regulation (EU) 2019/815
3 of Delegated Regulation (EU) 2019/815,
and shall mark-up sustainability reporting,
Directive 2019/882 and shall mark-up
including the disclosures laid down in
sustainability reporting, including the
Article 8 of Regulation (EU) 2020/852.
disclosures laid down in Article 8 of
Regulation (EU) 2020/852.
Or. en
Amendment 11
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 234, 235, 236 and 47
Proposal for a directive
Article 1 – paragraph 1 – point 5 – point a
Directive 2013/34/EU
Article 20 – paragraph 1 – point g
Text proposed by the Commission
Amendment
(g)
a description of the diversity policy
(g)
a description of the diversity and
applied in relation to the undertaking's
inclusion policy applied in relation to the
administrative, management and
undertaking's administrative, management
supervisory bodies with regard to gender
and supervisory bodies with regard to
and other aspects such as, age, or
gender equality, anti-discrimination,
educational and professional backgrounds,
minority and vulnerable groups and other
the objectives of that diversity policy, how
aspects such as, age, or educational and
it has been implemented and the results in
professional backgrounds or disabilities,
the reporting period. If no such policy is
the objectives of that diversity policy, how
applied, the statement shall contain an
it has been established and implemented
explanation as to why this is the case.;
and the results in the reporting period. If no
such policy is applied, the statement shall
contain an explanation as to why this is the
case;
Or. en
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Amendment 12
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 238, 237, 239, 240, 241, 242, 244 and 246
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 1
Text proposed by the Commission
Amendment
1.
Parent undertakings of a large
1.
Parent undertakings of a large
group shall include in the consolidated
group shall include in the consolidated
management report information necessary
management report information necessary
to understand the group's impacts on
to understand the group's impacts on
sustainability matters, and information
sustainability matters, and information
necessary to understand how sustainability
broken down by country, where relevant,
matters affect the group's development,
necessary to understand how sustainability
performance and position.
matters affect the group's development,
performance and position.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point a – point iii a (new)
Text proposed by the Commission
Amendment
(iii a) the policies of the undertaking on
diversity and gender equality, especially
pay transparency, equal pay for work or
work of equal value, equal opportunities
and diversity in its management;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point a – point iv
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Text proposed by the Commission
Amendment
(iv)
how the group’s business model
(iv)
how the group’s business model
and strategy take account of the interests of
and strategy taking account of the interests
the group’s stakeholders and of the impacts
of the group’s stakeholders, in particular
of the group on sustainability matters;
trade unions and workers, and of the
impacts of the group on sustainability
matters;
Or. en
Amendment 13
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 243 and 244
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point e – point i
Text proposed by the Commission
Amendment
(i)
the due diligence process
(i)
the due diligence process
implemented with regard to sustainability
implemented with regard to sustainability
matters;
matters, as defined under article 19b;
Or. en
Amendment 14
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 245 and 247
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 2 – subparagraph 1 – point e – point iii a (new)
Text proposed by the Commission
Amendment
(iii a) any measures providing for
vocational training and upskilling in
relation to restructuring, particularly in
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vulnerable regions and sectors;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 3 – subparagraph 4
Text proposed by the Commission
Amendment
Member States may allow information
Member States may allow limited
relating to impending developments or
information relating to impending
matters in the course of negotiation to be
developments or matters in the course of
omitted in exceptional cases where, in the
negotiation to be omitted in exceptional
duly justified opinion of the members of
cases where, in the duly justified opinion
the administrative, management and
of the members of the administrative,
supervisory bodies, acting within the
management and supervisory bodies,
competences assigned to them by national
acting within the competences assigned to
law and having collective responsibility for
them by national law and having collective
that opinion, the disclosure of such
responsibility for that opinion, the public
information would be seriously prejudicial
disclosure of such information would be
to the commercial position of the group,
seriously prejudicial to the commercial
provided that such omission does not
position of the undertaking, provided that
prevent a fair and balanced understanding
such omission does not prevent a fair and
of the group's development, performance,
balanced understanding of the
position and impact of its activity.
undertaking's development, performance,
position and impact of its activity and may
be reviewed by competent national
authorities as defined by national law.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
7.
A parent undertaking which is also
deleted
a subsidiary undertaking shall be
exempted from the obligation set out in
paragraphs 1 to 4 if that exempted parent
undertaking and its subsidiaries are
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included in the consolidated management
report of another undertaking, drawn up
in accordance with Article 29 and this
Article. A parent undertaking that is a
subsidiary undertaking from a parent
undertaking that is established in a third
country shall also be exempted from the
obligations set out in paragraphs 1 to 4
where that undertaking and its subsidiary
undertakings are included in the
consolidated management report of that
parent undertaking and where the
consolidated management report is drawn
up in a manner that may be considered
equivalent, in accordance with the
relevant implementing measures adopted
pursuant to Article 23(4)(i) of Directive
2004/109/EC, to the manner required by
the sustainability reporting standards
referred to in Article 19b of this Directive.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
The consolidated management report of the
The consolidated management report of the
parent undertaking referred to in
parent undertaking referred to in
subparagraph 1 shall be published in
subparagraph 1 shall be published in
accordance with Article 30, in the manner
accordance with Article 30, in the manner
prescribed by the law of the Member State
prescribed by the law of the Member State
by which the parent undertaking that is
by which the parent undertaking which
exempted from the obligations set out in
meets the requirements referred to in
paragraphs 1 to 4 is governed.
paragraphs 1 to 4 is governed.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
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Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
The Member State by which the parent
The Member State by which the parent
undertaking that is exempted from the
undertaking which meets the requirements
obligations set out in paragraphs 1 to 4 is
referred to in paragraphs 1 to 4 is governed
governed may require that the consolidated
may require that the consolidated
management report referred to in in the
management report is published in its
first subparagraph of this paragraph is
official language or in a language
published in its official language or in a
customary in the sphere of international
language customary in the sphere of
finance.
international finance, and that any
necessary translation into those
languages is certified.
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
The consolidated management report of a
The consolidated management report of a
parent undertaking that is exempted from
parent undertaking which meets the
the obligations set out in paragraphs 1 to 4
requirements referred to in paragraphs 1
shall contain all of the following
to 4 shall contain all of the following
information:
information:
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
(a)
the name and registered office of
(a)
the name and registered office of
the parent undertaking that reports
the parent undertaking that reports
information at group level in accordance
information at group level in accordance
with Articles 29 and this Article, or in a
with Articles 29 and this Article, or in a
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manner that may be considered equivalent,
manner that may be considered equivalent,
in accordance with the relevant
in accordance with the relevant
implementing measures adopted pursuant
implementing measures adopted pursuant
to Article 23(4)(i) of Directive
to Article 23(4)(i) of Directive
2004/109/EC, to the manner required by
2004/109/EC, to the manner required by
the sustainability standards adopted
the sustainability standards adopted
pursuant to Article 19b;
pursuant to Article 19b;
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
(b)
the fact that the undertaking is
(b)
the fact that the undertaking is
exempted from the obligations set out in
exempted from the obligations set out in
paragraphs 1 to 4 of this Article;
paragraph 2 (c) and (d);
Or. en
Proposal for a directive
Article 1 – paragraph 1 – point 7
Directive 2013/34/EU
Article 29a – paragraph 7
Text proposed by the Commission
Amendment
(c)
the name of each consolidated
entity.
Or. en
Amendment 15
Kira Marie Peter-Hansen
Compromise amendment replacing Amendment(s): 50, 254
Proposal for a directive
Article 2 – paragraph 1 – point 4
Directive 2004/109/EC
Article 28d – paragraph 1
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Text proposed by the Commission
Amendment
After consulting the European
After consulting the relevant EU agencies,
Environment Agency and the European
such as the European Environment Agency
Union Agency for Fundamental Rights,
and the European Union Agency for
ESMA shall issue guidelines in accordance
Fundamental Rights, Eurofound, the
with Article 16 of Regulation 1095/2010
European Institute for Gender Equality,
on the supervision of sustainability
EU-OSHA as well as relevant
reporting by national competent
stakeholders, in particular trade unions
authorities.
and civil society organisations, ESMA
shall issue guidelines in accordance with
Article 16 of Regulation 1095/2010 on the
supervision of sustainability reporting by
national competent authorities.
Or. en
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