What are the implications of the Danish government’s “Action plan for Corporate Social Responsibility” for Danish corporations?
In May 2008 the Danish Government presented its "National Action Plan for Corporate Social Responsibility" at a press conference led by the Danish Minister for Economic and Business Affairs.
The Action Plan has 4 objectives and key focus areas:
- To increase ‘business-driven social responsibility’ – also known as ‘strategic CSR’
- To promote social responsibility through state activities
- To strengthen corporate responsibility in relation to climate changes and
- To market Denmark for responsible growth.
In December 2008 the Danish Parliament adopted an amendment to the Act on Annual Accounts. All larger Danish corporations are now mandated to account for their CSR policies - if any - implementation efforts and results in the annual management report. Public procurement and an obligation to become member of the UN Global Compact or UN PRI for State Owned Enterprises also forms part of the Action Plan.
Focusing on internationally recognized principles for corporate responsibility, the Action Plan explicitly encourages Danish companies to join the UN Global Compact or, for investors, the UN PRI.
GLOBAL CSR finds that the national push for an international Principles-Based Approach to CSR promoted by the Action Plan is a much-appreciated step in the quest for establishing Denmark as a frontrunner on CSR. GLOBAL CSR has practiced this approach since 1996 and has a unique competence in reviewing and restructuring corporations’ CSR policies and strategies in the light of the Action Plan and the reporting requirements mandated by law.
Questions and Answers on CSR:
- What is CSR?
- What is an international Principles-Based Approach to CSR?
- What is the link between Human Rights and CSR?
- What is the Triple Bottom Line?
- What is CSR Compliance & Opportunities?
- Does CSR have the potential to create sustainable development?
- Is CSR also relevant for governments?
- Is CSR also relevant for SMEs?
- Is CSR only relevant in relation to corporations operating in or sourcing from emerging economies?
- Are Human Rights relevant for private corporations?
- Is there a business case for CSR?
- How can corporations perform Responsible Supply Chain Management?
- What are the implications of the Danish government’s “Action Plan for Corporate Social Responsibility” for Danish corporations?
- How can GLOBAL CSR assist in relation to CSR?