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EU Prepares to Force Companies to Report More on Climate Change

  • Bloc’s executive prepares changes to non-financial reporting
  • Businesses will be obliged to report sustainability risks
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Photographer: Jonathan Nackstrand/AFP via Getty Images

The European Union will force companies to regularly report how they are adapting to climate change and how much they are doing to stop it.

The EU’s executive arm is preparing revisions to its non-financial reporting rules so that firms provide more information on “sustainability risks and opportunities,” Valdis Dombrovskis, the Commissioner in charge of financial-services policy, said in Brussels. The Commission will also support the development of new reporting standards in the region to address an overlap of international frameworks that are confusing to companies and investors, he said.