Latvia’s Ministry of Finance has launched a consultation on draft amendments that would align annual and consolidated reporting requirements with changes to the Sustainability Information Disclosure Law implementing European Union Directive 2026/470. The proposal would substantially reduce the number of companies and parent companies required to prepare sustainability reports, limiting the obligation to entities with net turnover exceeding EUR 450 million at the balance sheet date and an average of more than 1,000 employees during the reporting year. The same thresholds would determine which companies must disclose information on material intangible resources in their management reports. Companies outside the mandatory reporting scope that voluntarily prepare sustainability information under European Commission standards would be required to note this in their management reports, enabling data collection on voluntary reporting practices in Latvia.
2026-09-02Ministry of Finance (Latvia)
Latvia's Ministry of Finance consults on narrowing sustainability reporting to companies above EUR 450 million turnover and 1,000 employees
Latvia’s Ministry of Finance is consulting on amendments that would limit mandatory sustainability reporting to companies and parent companies with net turnover above EUR 450 million and more than 1,000 employees. The thresholds would also apply to disclosures on material intangible resources, while voluntary reporters using European Commission standards would have to identify that reporting in their management reports.