IMS' first conference of the year was about "Transparence and reporting: new obligations as a result of the implementation of the EU directive" - a topical issue since, from 1 January 2017 the European Commission directive requiring certain companies to be transparent about their environmental, social, human rights and Corruption and diversity, key areas of CSR, is being applied.
At the Banque de Luxembourg's premises, Daniel Ruppert, Counselor at the Ministry of Justice, explained the scope and interpretation of the text in the Grand-Duchy. Jan Noterdaeme, Senior Advisor on External Relations at CSR Europe, raised awareness around the objectives and spirit of the Directive.
The companies which are concerned must now present their CSR policies and the concrete results, the risk analysis and the associated key indicators. The information's publication is therefore the result of the development of an integrated CSR strategy, resulting from a process of analysis of the main societal impacts of the organisation. It encourages a shift from a short-term, shareholder-oriented management model to a long-term, multi-stakeholder model.
This text is part of a broader movement of European initiatives aiming at greater transparency, such as regulation on minerals feeding conflict, the Tax Transparency Package, or the Shareholder Rights Directive which should be adopted next spring. A dynamic is thus clearly initiated, inviting the company to become aware of all its impacts on society and to move towards a creation of shared value.
