Statement of non-financial information

  1. Inicio
  2. |
  3. Services
  4. |
  5. Statement of non-financial information

The Non-Financial Information Statement (NFS) is a report that companies have to generate according to certain criteria established on the basis of Law 11/2018 and reports on all non-financial matters of the company including environmental, social and governance aspects. The main objective of the EINF is to provide corporate transparency on the company’s activities.

Is it mandatory to generate and submit your company's EINF?

 The obligation to present the consolidated non-financial information statement shall apply to all those companies with more than 250 employees that are either Public Interest Entities or that have met at least one of the following criteria for two consecutive financial years at the closing date of each one of them: 

– That the total of the asset items exceeds 20,000,000 euros; 
– The net annual turnover exceeds 40,000,000 euros. 

In other words, all companies that fall within the scope of application of the Capital Companies Act (SRL, SA and limited partnerships by shares), with more than 250 employees and which are either considered to be Public Interest Companies or which, for two consecutive financial years, have met at least one of the two circumstances set out above in relation to the volume of assets or turnover, are obliged to present the non-financial information statement on an individual level

ANTICIPATING CHANGE - CSDR AND ESRS

With 4 years having passed since the publication of the regulation governing the EINF, Law 11/2018, transposed by Directive 2014/95/EU of the European Parliament and of the Council of 22 October 2014, is amended by the approval of the proposed Corporate Sustainability Reporting Directive (CSDR) on 10 November 2022.  

The aim is to bring sustainability reporting in line with financial reporting, allowing the public to access reliable and comparable data. It will also be a step towards setting sustainability standards with new European standards that will seek to fill the gap in non-financial information being passed on to the market by introducing more detailed obligations on the environmental, human rights and social impacts of companies, based on common criteria in line with the EU’s climate goals. The European Commission plans to adopt the first reporting standards in June 2023. 

It may still be a few years before it is applicable to your company, however, at Euro-Funding we are already ahead of the regulations and we want our Clients not to be left behind. Therefore, we try to start working with our clients as soon as possible. The implementation schedule of the new requirements of the Directive is as follows:  

Reporting Year

Publication 

Application 

2024 

2025 

PIEs and large companies already affected by the EINF 

2025 

2026 

PIE and large companies not affected by the EINF 

2026 

2027 

Listed SME 

2028 

2029 

Companies outside the EU with branches/subsidiaries 

ARE YOU ONE OF THE COMPANIES THAT HAVE TO DRAW UP THE NON-FINANCIAL INFORMATION?

KEYS TO DRAWING UP YOUR COMPANY'S EINF

Over the last few years, a large number of questions have been raised about the elaboration and development of the NFE: 

  • Should I make my EINF public?
  • Do I have to audit it?
  • How do I collect and calculate the data required by law?
  • Did you know that the law includes areas such as the fight against corruption and bribery, social criteria in your procurement policy, human rights or the impact the company has on local development, as well as people management, climate change, circular economy or biodiversity? 

In our experience it is important to get advice so that companies can optimise their resources and verify their reports without bumps in the road.  

Main steps for the correct elaboration of the NFS

  1. Knowing point by point the information requirements that the law 11/2018 requests. Diagnose which part of this documentation is already being compiled and which will have to be compiled with quantitative and qualitative KPIs. Additionally, assign those responsible for each area and conduct interviews.
  2. Once the information has been gathered, a materiality analysis is carried out based on the needs and expectations of internal and external stakeholders, as well as sector benchmarking and direct competition.
  3. Subsequently, we generate a detailed, dynamic and visual report, for both internal and external communication (to suppliers, customers and potential investors) of the corporate work in environmental, social and good governance matters and outstanding aspects of the organisation’s management in each area, to enhance its value.
  4. Finally, the report will be audited by an independent third party, so the dates necessary for the formulation and approval of the report by the Board of Directors will be coordinated in time with the selected entity. 

OTHER RELATED SERVICES

Sustainability Plan

Many companies today need to develop a sustainability plan if they want to effectively combat relevant issues such as climate change and greenhouse gas emissions. The elaboration and development of a corporate sustainability plan helps companies to have a better public image, greater efficiency and better brand representation. Ampliar información

Me interesa »

Sustainability Report

The sustainability report is the main tool available to companies to communicate, on a voluntary basis, their performance or impact in environmental, social and corporate governance matters. The information included in the sustainability report is relevant for both internal and external stakeholders (customers, suppliers and/or potential investors). Ampliar información Environmental

Me interesa »

Circular Economy Grants

From Euro-Funding we collaborate in obtaining these grants aimed at promoting the eco-design of new products, improving waste management, and promoting digitisation in our country.  These grants aim to promote major initiatives that favour the transformation of the Spanish economy towards a circular production model that is more sustainable, efficient

Me interesa »

Environmental Aids

Environmental aid is intended for the development of projects of general interest and is considered to be of social interest in the protection of the environment. For the purposes of the purposes of social interest in environmental protection, activities of social interest are understood to be all those activities derived

Me interesa »

Management systems

The integration of management systems allows companies to optimize their resources, reduce costs and improve productivity, generating a complete and integrated organization. Ampliar información Environmental Aids Carbon footprint Life cycle analysis Energy audit Circular Economy Grants Environmental risk Management systems Sustainability Report Sustainability Plan ESG advice and sustainable finance Environmental

Me interesa »

Environmental risk

Since October 2018 (Law 26/2007), companies must have a financial guarantee to enable them to meet the environmental liability inherent to the activity they carry out. This Law establishes that the amount of the financial guarantee will be determined on the basis of an Environmental Risk Analysis of the activity.

Me interesa »