CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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44 Carrots and Sticks - Promoting Transparency and Sustainability Country/Region Standards, Codes and Guidelines Finland France Mandatory standards � The Finnish Accounting Act, 1997 requires certain companies to include material non-financial issues in the director’s report of the annual/ financial report and refers to the guidelines for good practice. The report shall include an assessment defining the key ratios necessary to understand the operations and financial position as well as the results of operations of the reporting entity. In addition, ratios and other information on personnel and environmental factors and other potentially significant matters impacting on the operations of the reporting entity need to be disclosed. � The Finnish Accounting Board issued on 24 October 2006 general guidelines for recording, accounting and disclosing of environmental issues as part of the legally required financial statements. The guidelines are broadly based on the EU commission’s recommendation 2001/453/EU and are to be interpreted to be a part of binding good accounting practice. � The Finnish Accounting Board also issued on 12 September 2006 general guidelines for the compilation of the Board of Directors’ report. Such general guidelines are to be interpreted to be a part of binding good accounting practice. Mandatory standards � Law No. 2001-420 related to New Economic Regulations (NRE operative since 2003) <strong>–</strong> Art. 116: environmental and social reporting is mandatory for listed companies, which are in many cases holding companies. The mandatory requirement on CSR reporting was introduced through an amendment in the New Economic Regulation Act. The amended NRE indicates that listed companies will be required to report on social and environmental performance in the management report. More detailed requirements followed in the enforcement order, issued a year later. The requirements are based on a list of forty indicators, many of them inspired by the GRI performance indicators. Some indicators were also taken from the “French social report”, a list of social data required from all companies to show compliance with labour regulation.
Country/Region Standards, Codes and Guidelines Law of 7 July 1977 on the social review � mandates all companies with more than 300 employees to publish a social review (it includes more than 100 indicators). Programme law related to the implementation � of the multi-party debate on the environment, 2009. General law regarding national environmental orientations: Art. 18 states that the Public Authorities will study the possibility of implementing mandatory reporting of energy use and greenhouse gas emissions for companies with more than 250 employees at the latest by 2013 and 2010 for listed companies. Art. 53 states that the Public Authorities will study the possibility of extending the NRE law to other companies, which exceed a threshold of net sales, balance sheet or number of employees. A large consultation of all stakeholders involved has been conducted by public authorities in order to reach a consensus on the sustainability decisions to be taken within the following years. Moreover, the impulse came from the political authorities, and objectives have been set up. It is a general law from which several decrees will result in a short time. http://ameli.senat.fr/publication_pl/2008-2009/581.html Draft law for a national engagement towards the � environment, 2009. Implementation of the abovementioned law (4.1): Draft Art. 26 states the requirement for companies with more than 500 employees in high emitting sectors (list to be defined) to publish the amount of their greenhouse gas emissions by at the latest 1 January 2011, with an update at least every 5 years. Draft Art. 83 extends the NRE law to companies exceeding a balance sheet threshold (to be defined) and with more than 500 employees. If the company creates consolidated financial statements, the information published consolidates data from the company and its affiliates or the companies it controls. Information is also provided on each of these affiliates or companies it controls if they are on French territory. http://www.senat.fr/leg/pjl08-553.html Carrots and Sticks - Promoting Transparency and Sustainability 45
Page 1 and 2: CARROTS AND STICKS - PROMOTING TRAN
Page 3 and 4: Contents Forewords 2 1 Executive Su
Page 5 and 6: Core environmental issues today - c
Page 7 and 8: in its regulatory role, to ensure a
Page 9 and 10: of the comprehensive “corporate s
Page 11 and 12: There is a large variety of regulat
Page 13 and 14: of the GRI sector supplements as we
Page 15 and 16: “The vision of the Danish Governm
Page 17 and 18: Emerging trends at the global level
Page 19 and 20: assurance standards are evolving wh
Page 21 and 22: Standards, Codes and Guidelines con
Page 23 and 24: Standards, Codes and Guidelines Eco
Page 25 and 26: Country/Region Standards, Codes and
Page 45: Country/Region Standards, Codes and
Page 77 and 78: 5. Country profiles Carrots and Sti
Page 79 and 80: In June 1997 Herbert De Souza, Beti
Page 81 and 82: well as a list of companies that vi
Page 83 and 84: market-based instruments. A small p
Page 85 and 86: Figure 1: Issues addressed in susta
Page 87 and 88: Stock Exchange (Brazil) and the Joh
Page 89 and 90: Annex 1 1. Carrots and Sticks - Pro
Page 91 and 92: Power’ Options: How Governments C
Page 93 and 94: An external Advisory Committee cons
Page 95 and 96: Production Printing process: Printe

CARROTS AND STICKS – PROMOTING ... - Global Reporting Initiative

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