According to the CSR Act 2013, certain group of listed firms in India are required to spend 2% of average net profit and to make extensive disclosures of CSR engagements.

In the institutionally driven context of Chinese listed firms, both Shanghai and Shenzhen Stock exchanges have issued different guidelines in 2007 and 2008 for the mandatory or voluntary disclosure of non-financial data (especially CSR reports). This step was taken in coherence with the institutional instructions from Chinese Securities and Regulatory Commission (CSRC). For more details you can read these two papers. Thanks.

1. Corporate social responsibility disclosure and corporate governance: empirical insights on neo-institutional framework from China

https://link.springer.com/article/10.1057%2Fs41310-018-0038-y

2. Corporate Social Responsibility Reporting in China: An Overview and Comparison with Major Trends

https://onlinelibrary.wiley.com/doi/10.1002/csr.1276/abstract;globalMessage=0

In South Africa, integrated reporting information has been mandated for firms listed on the Johannesburg Stock Exchange since 1 March 2010. Similar to South Africa, the Singapore Exchange will incorporate sustainability information on a “comply or explain” basis, complementing financial information with environmental, social and governance aspects of business strategy.

non-financial disclosures ideally should be voluntary.

To the best of my knowledge, the country that have a mandatory law regarding non-financial data disclosure (corporate social responsibility) is India. Indian Draft Companies Bill 2011 advocated that companies with net worth above Rs 500 crore or an annual turnover of over Rs. 1.000 Crore should earmark 2 percent (%) of average net profit of three years towards Social Accounting Practice. Thank you.

In Romania the European Directive 2014/95/EU is being implemented for large public-interest companies with more than 500 employees.

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095

The law is Order of Finance Ministry no. 1802/2014 for the approval of Accounting regulations regarding the individual financial statements and consolidated financial statements, with further amendments by Order of Finance Ministry no. 1938/2016.

in Indonesia, the rule is Kep-431/BL/2012 . It contents to make annual report for all public firms listed in Indonesia Stock exchange

UK companies Act (2006)

Action Plan for Corporate Social Responsibility / Danish Financial Statements Act (2008)

France Ley nº 2001-420.

Thank you everybody for your answers! They are very helpful for my research (and more are still needed for some countries).

From your answers, I have concluded that it would probably be interesting to also take into account the fact that some countries' major stock exchanges enforce the companies enlisted in them to disclose non-financial information, although the country doesn't have any law regarding non-financial disclosure.

I also have noticed from the data I am using that corporate governance information disclosure started earlier than environmental and social information disclosure and, therefore, I maybe should take this into account when analysing the legislation.

Am I right with my conclusions? Any comment on this is very welcome!

Yes you should

Hi Maite

There are a number of consultant reports being published on this topic.

Hi Benedict,

Thank you for your answer. Could you please give me the titles/ authors of some of them? I know about the IPCC report, but on it only a small number of countries are analysed.

Thank you in advance.

Thank you very much, Breeda! I will surely read it.

You may include Pakistan in your list. The relevant law is copied below.

THE GAZETTE OF PAKISTAN EXTRAORDINARY

PART II

Statutory Notifications (S.R.O)

Securities and Exchange Commission of Pakistan

NOTIFICATION

Islamabad, the November 16, 2009

S.R.O. 983(I)/2009.- In exercise of powers conferred by sub-section (1) of section 246 of the Companies Ordinance, 1984 (XLVII of 1984) delegated vide S.R.O 659(I)/2009 dated July 14, 2009, the Commissioner (Company Law Division) is pleased to issue the following General Order, namely:-

COMPANIES (CORPORATE SOCIAL RESPONSIBILITY) GENERAL ORDER, 2009

1. Short title, application and commencement.- (1) This General Order shall be called the Companies (Corporate Social Responsibility) General Order, 2009. (2) It shall be applicable on all the public companies from the financial year beginning on or after July 1, 2009.

(3) Words and expressions used but not defined in this General Order shall have the same meaning as are assigned to them in the Companies Ordinance, 1984 (the Ordinance).

2. Obligations under the law- (1) Every company shall provide descriptive as well as monetary disclosures of the Corporate Social Responsibility activities undertaken by it during each financial year.

2

(2) Such disclosures shall be made in the directors’ report to the shareholders annexed to the annual audited accounts. The disclosure of such activities will be in addition to the disclosure requirements already mentioned in the Ordinance.

(3) The disclosures, wherever required, shall include, but shall not be limited to the following:

(i) corporate philanthropy (ii) energy conservation (iii) environmental protection measures (iv) community investment and welfare schemes (v) consumer protection measures (vi) welfare spending for under-privileged classes (vii) industrial relations (viii) employment of special persons (ix) occupational safety and health (x) business ethics and anti-corruption measures (xi) national-cause donations (xii) contribution to national exchequer (xiii) rural development programmes.

(4) It shall be the duty of every person referred to in sub-section (2) of section 246 of the Ordinance to comply with the provisions of this General Order.

NFR (Non financial reporting directive) Directive 2014/95/EU of the European Parliament for firms with more than 500 employees are mandated by law to disclose non-financial information.

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014L0095

Please see the link below

A comprehensive overview of how Member States are implementing the EU Directive on Non-financial and Diversity Information

https://www.csreurope.org/sites/default/files/uploads/CSR%20Europe_GRI%20NFR%20publication_0.pdf

I just wanted to take the time to send a HUGE thank you to Breeda Comyns.

I have finally had the time to take a look at the document she suggested and have found that there is a publicly available database about Sustainability reporting instruments at https://www.carrotsandsticks.net

This is being very helpful for my research and hope that it is for others out there that are interested in the topic.

Thank you again!

Hello! In the Russian Federation, there is a Draft Federal Law "On Public Non-Financial Reporting". The project was prepared by the Ministry of Economic Development. Currently, it is at the stage of forming the final version of the text of the draft regulatory legal act. In the public domain there is a text as of 05/18/2018. http://regulation.gov.ru/projects#npa=71422

There is an Iraqi Accounting Rule No. 6 obliging the joint stock companies to disclose the accounting

India also mandated the disclosure of non-financial information for the select group of companies in BRR format

Since 01.01.2017, by the new Accountancy Act, some of the Bulgarian enterprises are obliged to prepare a non-financial statement which must be included in the annual financial statement.

Good day

Please take note that South Africa do not really have hard law with regards to disclosure of non-financial information in annual financial reports. The 2008 Companies Act, section 72(4) makes provision (and the company does not have an option with regards to this provision) for the establishment of a social and ethics committee, where the company meets the requirements as published by the Minister of Trade and Industries. The JSE however requires of all listed companies to report in their financial statements to what extend the company had complied with the principles laid down the King Committee in the so called King codes. It should be noted that the King codes are not law, and are advisory codes.

Take note: an article of mine with regards to mandatory CSR contributions / expenditure will (hopefully) soon be published. For an insightful article of a colleague of mine, refer to

Kloppers, HJ "Driving Corporate Social Responsibility (CSR) Through the Companies Act: An Overview of the Role of the Social and Ethics Committee." 2013 Potchefstroom Electronic Law Journal 165-199

Please take a note that the country Nepal has been CSR laws since 2017.

The article entitled "Non-financial reporting research and practice: Lessons from the last decade" contains a detailed response to your question. You can find the paper here:

- ResearchGate version:

Article Non-financial reporting research and practice: Lessons from ...

- journal version:

Article Non-financial reporting research and practice: Lessons from ...

- post-print version (free access): https://www.gmarzi.com/wp-content/uploads/JPC_Final_Repository.pdf