the environmentalist and IEMA members put non-financial reporting software to the test
Disclosure of non-financial information is mandatory for a growing number of businesses. The EU Non-Financial Reporting Directive (2014/95/EU) came into force in December 2014 and organisations covered by the legislation will need to start reporting from their 2017 financial year. About 6,000 companies across Europe will be subject 2014/95/EU and will have to produce a non-financial statement containing information on five matters and how the organisation’s performance, position and activities affect each one. The five are: environmental, social, employee, human rights, anti-corruption and bribery.
In the UK, the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 requires listed companies to report on their non-financial information, including greenhouse-gas emissions. Defra says the information should be accurate, complete, consistent and comparable.
Software can help to ensure the data is robust, and can simplify the process and reduce the cost of producing reports. Built-in version control tools can provide audit trails that show when data was modified, while documents such as energy invoices can be uploaded to the system, simplifying the verification process.
To see how some of the non-financial reporting software available in the UK compares, the environmentalist invited a group of IEMA members to test three leading applications from providers Ecometrica, Greenstone and ...