FERMA submitted on 11 June 2020 a response to the public consultation on the review of the Non-Financial Reporting Directive.
FERMA supports clarifying, structuring and simplifying non-financial reporting, starting by defining a clear process to help companies select key sustainability topics that will drive their strategic vision and reporting practices. This process can be found in the framework of Enterprise Risk Management (ERM), supported by the implementation of a risk and opportunity-based Materiality Matrix focused on a few clear priorities.
FERMA also supports the definition of a standard disclosure structure and development of a common European non-financial reporting standard. The standard should provide clear instructions, defined by industry and aligned with existing European and international standards, on how to meet the Non – Financial Reporting Directive requirements and EU expectations.