Audit & Accounting
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ESG: Who do the rules apply to?
Danish companies in reporting classes D and C-large are covered by the new sustainability reporting requirements.
- From the financial year 2024, PIE companies with more than 500 full-time employees will be included. PIEs are public interest entities, i.e. listed companies, financial or mortgage institutions and insurance companies.
- From the financial year 2025, companies in accounting class C-large will be included.
- From the 2026 financial year, listed SMEs will follow.
The question of whether your company will be subject to sustainability reporting requirements depends on which category you belong to in relation to the size thresholds below.
Companies that for two consecutive years exceed the size thresholds for accounting class C-middle will be included.
| Applicable size limits | |
|---|---|
| ACCOUNTING CLASS B | |
| Balance | 55,000 t.kr. |
| Net revenue | 111,000 t.kr. |
| Number of employees | 50 employees |
| ACCOUNTING CLASS C-MIDDLE | |
| Balance | 195,000 t.kr. |
| Net revenue | 391,000 t.kr. |
| Number of 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.
Many more companies are getting involved in reporting requirements
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.
Read more:
> What is ESG and why are the rules being introduced?
> What are the requirements for sustainability reporting (CSRD)?
How is your business affected by ESG?
At inforevision, we have the knowledge and skills to assist, spar and advise on what is relevant to focus on in the individual company.
For example, we can help with:
- Getting an overview of your carbon footprint
- To verify your ESG metrics
- Advise on the new reporting requirements
- Discuss how you can implement policies and processes to meet the requirements.
Let's talk about what you need in your business and how we can help you navigate ESG.
Contact us
Martin Hansen has completed the Sustainability Academy from the Association of Authorized Public Accountants (FSR). He leads the development of inforevision's ESG consulting and services, which also includes collaboration with specialists in our international network, Moore Global.
Martin Hansen
Partner, state authorized public accountant
Mobile: +45 21 71 90 11
Direct: +45 39 53 5034
MT@inforevision.dk