Propositions on the European Commission’s proposal for a regulation regarding the disclosure of non-financial and diversity information by large companies and groups.
Mining, oil exploitation and forestry have a significant impact on the ecosystems and local communities. The extractive industries sector is responsible for some of the highest environmental costs out of all the economic sectors. Additionally, in resource rich countries in the South, an increasing number of social conflicts have their origin in the exploitation of natural resources.
We support the positions of the European Coalition for Corporate Justice (ECCJ) and the WWF on the requirements for disclosure of non-financial information by companies. We would like to stress the importance of further development of the guidance for the disclosure of information on company‟s policies and impacts on human rights and the environment. Precision and clarity is needed to facilitate the task for companies and render information valid and comparable. Given the particular characteristics of the interaction of extractive activities with the environment and local populations, and the existence of very specific national and international norms and regulations related to these topics, we strongly believe that specific guidance is needed for the disclosure of non-financial information by companies in the extractive sector (see amendment 5).
To preserve our planet‟s ecosystems, we have to drastically reduce the depletion of the stock of natural capital by improving resource efficiency. Reporting on resource use and measures to improve resource efficiency by companies will significantly contribute towards monitoring and adjusting Europe‟s Roadmap for Resource Efficiency (amendment 3). This new directive offers a big opportunity to generate the information that Europe needs to improve its resource efficiency and raw materials strategies.