Danish companies in reporting classes D and C-large are covered by the new sustainability reporting requirements.
In February 2024, the Minister of Business has proposed a bill to increase the size limits in the accounting classes. The law is expected to enter into force on June 1, 2024 with effect for the financial year 2024 and onwards.
The question of whether your company will be subject to sustainability reporting requirements depends on which category it falls into under the new size thresholds.
Companies that for two consecutive years exceed the size thresholds for accounting class C-middle will be included.
Applicable size limits | Proposal for new size limits | |
---|---|---|
ACCOUNTING CLASS B | ||
Balance | 44,000 t.kr. | 55,000 t.kr. |
Net revenue | 89,000 t.kr. | 111,000 t.kr. |
Number of employees | 50 employees | 50 employees |
ACCOUNTING CLASS C-MIDDLE | ||
Balance | 156,000 t.kr. | 195,000 t.kr. |
Net revenue | 313,000 t.kr. | 391,000 t.kr. |
Number of employees | 250 employees | 250 employees |
Note: The company must not exceed two of the three limits for two consecutive years.
Subsidiaries will be able to refer to a parent company's reporting for the group, but regardless of size, all subsidiaries should expect to be involved in collecting ESG data for the parent company in the coming years.
It is expected that many more companies than those covered by legislation will be required to provide ESG data to their customers, suppliers and/or credit institutions.
That's why inforevision recommends that companies start clarifying whether they need to provide ESG data to their business partners and what it will require. This will enable you to provide customers and business partners with the right data at the right time and in the right quality.
> What is ESG and why are the rules being introduced?
> What are the requirements for sustainability reporting (CSRD)?
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