The European Directive of 22 October 2014 ot the European Parliament and of the Council as regard disclosure of non-financial and diversity information by certain large undertaking  and groupe  comes from afar.

Some present it as a step of an "irrestible rises  of Corporate Social Responsabilité.  This text would be a  a "step forward" and a "strong signal".

It is true the Directive of the European Parliament and the Council follows a consultation conducted for several years by the European Commission on the subject of Social Responsibility. Whatever might have said the "stakeholders", the Directive contains the same lines tham the European Commission Communication of 13 April 2011, adopted on 25 October 2011 on the topic.

It is difficult today to oppose "Hard Law" and "Soft Law": Law hardens gradually. Thus, from the "communication", we went to the "resolutions", whose status remains uncertain, both a communication firmer but less binding than a law, since resolution is only for its author ... Thus Parliament in its resolutions of 6 February 2013 'resolved' to design an "inclusive" vision of the corporate action, to dance together profitability and social justice. To get by,  it must suffice to say that the Social Responsibility Company is "multidimensional" ... Guidelines of the European Commission (non-binding) will explicit. Wait and see.

Following a series of obligations on information that companies must make available "to the public and authorities." Thus, companies must do the work instead of public authorities themselves. The provisions relating to non-financial information are mandatory and standardized. They are particularly demanding on the environment.

But when the text provides more substantial obligations, such as making the activity business less polluting, the Directive simply ask the member states to encourage companies to adopt "best practices" in the field. The market itself is incitative, in particular for making boards of large corporations more diverses. Because the principle is the belief that "investor access to non-financial information is a step towards achieving the goal of effective .... Europe in the use of resources," in a regulatory context of a "smart, sustainable and inclusive" growth".