Since 2009, large Danish companies have had a legal obligation report on CSR-reporting – also known as the comply-or-explain model. In 2015 the Danish Parliament revised the regulations due to the new EU-directive on non-financial reporting adopted in 2014.
The aim is to inspire current and future organisations to take on an active position on CSR and communicate globally.
From 1 January 2016 large companies in class C and D with more than 500 employees
must report on their CSR activities in accordance with the new requirements.
Class D companies are listed companies and state owned enterprises.
Class C companies that exceeds at least two of the three size limits in two consequent years:
Subsidiaries are exempt from having to report on CSR if the parent company does
so for the entire group.
The same reporting requirement has also been introduced for institutional investors, mutual funds and other listed financial businesses (financial institutions and insurance companies, etc.), not covered by the Danish Financial Statements Act. For these businesses, the requirement has been introduced in Executive Orders issued by the Danish Financial Supervisory Authority
The companies that are covered by the statutory requirement have to state:
From the financial year beginning on 1 January 2018 the same legislation applies to all other companies in class C and class D with less than 500 employees.