Denmark: Employers Face Diversity Reporting Requirements 

The annual reports of companies listed in Denmark must include a description of their diversity policy for management, under amendments to the Danish Financial Statements Act (Regnskabsloven) (Danish) that take effect 1 Jan 2020. The law transposes provisions of the EU directive 2013/34/EU. The changes aim to ensure that companies’ management bodies comprise sufficient diversity of views and expertise to avoid so-called group think.

All listed companies exceeding Accounting Class “C” must apply the policy when they meet at least two of the following criteria for two consecutive financial years:

• A total balance sheet of DKK 156 million
• Net revenue of DKK 313 million
• Average 250 full-time employees during the financial year

The policy must cover several diversity factors, including age, gender, educational and business background, geographical origin, international experience and socio-economic background.

The statement included in the annual report must contain information about:

• The policy’s objectives
• Implementation efforts
• Results achieved during the applicable reporting period 

Related Resources

• Danish Financial Statements Act (Danish) (Danish Parliament)
• Directive 2013/34/EU (Europa, 26 Jun 2013)