Ministry of Economic Affairs and Employment: Government proposes increased transparency on sustainability impacts of large and listed companies
On 28 September 2023, the Government submitted to Parliament its proposal for amending the Accounting Act, the Auditing Act and certain related acts. The proposed acts would implement the EU-Directive on corporate sustainability reporting.
Information on the impacts related to the environment, human rights and other social matters would be published annually in a sustainability report that would be included in the company’s annual report.
The new Directive applies to listed companies and large limited liability companies.
The new Directive also requires that the sustainability report included in the annual report be submitted digitally. The Government proposes that the requirement to supply the report digitally also apply to financial statements in Finland. This would enable the uniform processing and utilisation of these documents in the future.