Reporting and Disclosure Obligations for Companies
Legislation in the European Union and many other jurisdictions is increasingly targeting corporate entities and creating new reporting and disclosure obligations in relation to the environmental, social and human rights impacts of companies' activities.
In partnership with MadeBy, BIICL is undertaking a project to map the reporting and disclosure obligations for companies arising from sixteen instruments identified as key developments in the environmental and social sustainability space.
BIICL is currently working with MadeBy, a digital ID company and Innovate UK EDGE awardee with a vision to assist brands with creating digital product passports (DPPs) for products which contain the information required to satisfy reporting and disclosure obligations under legislation in the environmental, social and human rights spheres.
BIICL's role in the project is to provide legal expertise in supporting the creation of data architecture that will capture the required data points so that companies are able to comply with the various regulations, directives and acts in this space. This will involve analysing laws recently proposed or introduced in the EU United Kingdom, the United States, Australia, France and Germany, which create reporting or disclosure obligations for companies in relation to the environmental, social, human rights and labour impacts of their business activities. BIICL is producing a data matrix which shows the datapoints that need to be collected and shared with different regulators for compliance with each instrument, as well as any points of overlap between the data. The data will also be mapped against other criteria such as company size.
The matrix to be produced by BIICL will then be used by information architects and software developers at Madeby to build a user-friendly platform which enables brands to understand their position against the various environmental and social sustainability laws in the jurisdictions they operate in and share or disclosure required data with the relevant regulators or consumers.
In addition to the data matrix, the project team will produce a short report summarising key findings made in the mapping exercise and areas of potential future development in the space.
The project will run from 17 July 2023 to 17 October 2023.
