The Croatian Financial Services Supervisory Agency (Hanfa) has adopted Guidelines for the preparation and publication of ESG (environmental & social & governmental) information to be published by companies financed through the capital market. It is a document intended for issuers on the regulated market in the Republic of Croatia who are subject to non-financial reporting under the Accounting Act, but also those who voluntarily decide to publish a non-financial annual report for better future financing and investment and stronger environmental sustainability and positive environmental impact, community impact and human rights protection.
Hanfa’s Guidelines will help issuers in the development of non-financial ESG reporting in Croatia and serve as preparation for mandatory publication of company objectives under the Taxonomy Regulation in the period when for all financial institutions (banks, funds, investment companies) in Croatia and the EU. In March 2021 the mandatory application of the EU Regulation SFDR has started.
The Hanfa guidelines offer a brief overview and explanation of European regulations related to ESG non-financial reporting, and include an explanation of the preparation of environmental impact reports by activity, turnover, capital investment and operating costs. Hanfa will also hold a series of trainings on the Guidelines for publishers and business associations
Hanfa is not the first authority or stock exchange in the region which issued such a guideline. Recently we reported about similar initiatives from Poland, Hungary and from Latvia as well, and even more initiatives are expected in the future.
Source and more information: hanfa.hr
Cover picture: unsplash
