The EU Non-Financial Reporting Directive (NFRD) requires large companies to disclose non-financial and diversity information, helping stakeholders understand their impact on society. This directive covers various aspects, including environmental protection, social responsibility, employee treatment, respect for human rights, anti-corruption, and board diversity. For procurement and supply chain professionals, understanding the NFRD is essential as it influences how companies report on their sustainability practices and manage non-financial risks. Compliance with the NFRD ensures transparency and accountability, supporting informed decision-making by stakeholders and enhancing the company’s reputation. It also promotes the integration of ESG considerations into business operations and strategy, contributing to sustainable development and long-term value creation.
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