Denmark: the law on CSR reporting catalyzed the development of socially responsible practices in large businesses

“The law shows the right way, encouraging businesses to work and render accounts on their social responsibility.”  This is how Minister for Economic Affairs Brian Mikkelsen presented, on September 1^st, the outcome of the report on the application of the årsregnskabslov, the law of December 16, 2008 which forces the country’s 1,100 large businesses to tell about their CSR practices in their annual report.  Enforced on January 1, 2009, the law imposes that they expose their CSR policies following three axes: their existence and the guidelines, the modalities and procedures of their implementation, and their results and possible future prospects.  When there are no such policies, the companies have to explain why.