In modern business environment, companies, especially those with a global presence, view non – financial reporting as an instrument of integrating the concept of sustainable development into their existing business practices and business strategies, or as an instrument of directing business towards sustainability, by combining long – term business profitability with social responsibility and protection of the environment. Hence, large companies understand that the obligation to present non – financial information is not a necessary and indispensable regulatory burden. Directive 2014/95/EU represents an important step forward in standardizing non – financial reporting and formalizing transparency requirements, as it lays down rules for the publication of non – financial and diversity information relating to large companies. However, large companies are already familiar with non – financial reporting, and some of them had a pre – existing history of non – financial reporting at the time of the adoption of the Directive, but in the case of imposing a non-financial reporting obligation, it is necessary to present the advantages of this approach to reporting to those encountering it for the first time. The main goal of the analysis and comparison conducted in this paper is to establish and conclude the extent to which the regulatory authorities of the selected EU or EEA Member States influenced the publication of non – financial reports of the selected companies. Large companies have changed their approach to non – financial reporting slightly since the adoption of Directive 2014/95/EU, as they were previously aware of the needs and expectations of their stakeholders and the benefits of non – financial reporting. The adoption of Directive 2014/95/EU prompted Member States to implement the requirements of the Directive into their national legislation, consequently creating certain practical differences among the Member States of the European Union. The uttermost goal of non – financial reporting is to achieve smart, sustainable and inclusive growth of the world economy.