Legal duty to inform according to NFI-RL / NaDiVeG
The Nonfinancial Information (NFI) Directive of the European Union (Directive 2014/95 / EU) and the resulting “Sustainability and Diversity Improvement Act (NaDiVeG)” oblige certain large companies in Austria in their annual and management reports from 2017 on to report on non-financial aspects and diversity related information.
You are affected if you are a “public interest company” AND have total assets in excess of € 20 million or revenues in excess of € 40 million AND more than 500 employees on an annual average. If you do not fall directly into this category, it is still advisable to deal with the reporting of non-financial aspects or sustainability reporting, since you may be indirectly affected by your reportable business customers.
The non-financial statement shall contain at least information on:
- environmental concerns
- Social and employee concerns
- Respect for human rights
- Combating corruption and bribery
This information is intended to describe the concepts pursued, including their results, due diligence processes, material risks and related measures, as well as key non-financial performance indicators.
In line with this legal position, the Umweltdaten-Tool aims to support an affordable and easy-to-use “sustainability monitoring” that simplifies compliance with the legal reporting requirements of NFI-RL / NaDiVeG.
Sustainability and Diversity Improvement Act, NaDiVeG (pdf, German)