Corporate disclosure before and after the Non-Financial Reporting Directive (NFRD)

The practice of non-financial disclosure plays a crucial role in providing stakeholders a deep understanding of a company's environmental, social and governance (ESG) performance and impacts. It aims to offer stakehold-ers a comprehensive view of a company's sustainability practices, ethical be-haviour, and long-term value creation beyond financial metrics. While finan-cial accounting metrics capture certain aspects of a company's performance, many valuable resources, such as intellectual resources, are not adequately represented (Beattie et al., 2002; Beattie et al., 2004; Mouritsen et al., 2001b; Petty and Guthrie, 2000; Petty et al., 2006). Therefore, non-financial disclosure fills this gap by shedding light on these important factors. Moreover, various studies have demonstrated that the disclosure of non-financial information is an effective strategy for gaining, maintaining and repairing a company's reputation (Deegan 2002). By being transparent about their non-financial practices, companies can enhance stakeholders trust and demonstrate their commitment to sustainable and responsible business practices. The purpose of this contribution is to examine the impact of the Non-Financial Reporting Directive on corporate disclosure practices. It also aims to provide a deeper understanding of the characteristics of social reporting, environmental reporting, intellectual capital reporting, and reports aligned with the Non-Financial Reporting Directive (NFRD) through the proposi-tion of the literature review.