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Mandatory CSR Reporting for Denmark's Largest Companies
8 January 2009:
The Danish Parliament voted in mid-December to force the 1,100 largest enterprises to describe their corporate CSR or socially responsible investment policies, the ways in which they've been implemented and the results they've produced.
Auditors must verify the CSR/SRI information. To incentivize companies to join the U.N. Global Compact or U.N. Principles for Responsible Investment, the Danish government will allow members to refer in the annual reports to their Communication on Progress in lieu of reporting under the new rules.
"In the current financial crisis, it is more urgent than ever to promote greater transparency, especially in the field of environmental, social and governance performance," Donald MacDonald, chair of the U.N. Principles for Responsible Investments, said in a statement. "For investors, corporate responsibility and the proper management of extra financial risks is essential."
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Source: Greenbiz
