EU-Guidelines on Non-Financial Disclosure

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In June 2019, the EU-Commission will publish final guidelines regarding the disclosure of climate related, non-financial information by large public interest companies. This cepAdhoc gives an overview of a draft version of the guidelines and analyses their legal value.


The draft guidelines cover all economic sectors, including banks and insurance companies. They encompass five categories of information regarding climate change-related risks and opportunities related to companies' activities on which these should disclose information. The Commission expects firms covered by the guidelines to disclose all climate related information.

The guidelines will be a non-binding, soft-law instrument. National courts and authorities are not obliged to take them into consideration. The real impact of the guidelines will heavily depend up-on the final version of both the guidelines and the EU-Regulation on sustainable taxonomy, which is still under negotiation.