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Denmark

Appendix 1, GP 4

Status in Denmark (initiatives implemented before the UN ratification of the Guiding Principles) [page 28]

“In 2008 the state financing fund, Vækstfonden, has committed to adhere to the UN Principles for Responsible Investment (PRI). The Export Credit Agency (EKF), the Investment Fund for Developing Countries (IFU) and Investment Fund for Central and Eastern Europe) (IØ) has committed to join the UN Global Compact.

[The Export Credit Agency (EFK)]’s Environmental & Social Due Diligence Policy states that EKF is committed to implementing the UN Guiding Principles on Businesses and Human Rights. EKF has also committed to the Equator Principles. These are binding international standards and frameworks for project funding. This ensures that private institutions and banks assess the environmental and social responsibility through a common set of guidelines. EKF works to promote the Equator Principles internationally, especially to institutions in the BRIC countries (Brazil, Russia, India and China). EKF uses International Finance Corporations (IFC) Performances Standards when rating a project which EKF participates in. The IFC Performances Standards mainly covers labor rights but human rights are also covered. …

As part of the approval process, Danida Business Finance analyses potential human rights related risks including local legislation and policies and other CSR issues. Access to finance is based on buyer’s and exporter’s compliance with ILO principles on human and workers’ rights. When Danida signs contracts with companies, it is a requirement that companies live up to Danida’s anti-corruption policy and to the UN Global Compact. A description of the applicant’s approach to quality assurance and how it will comply with Danida’s anti-corruption code of conduct and the principles of the UN Global Compact during implementation are requested from pre-qualified tenderers and form part of the tender evaluation.”

Appendix 1, GP 7

Status in Denmark (initiatives implemented before the UN ratification of the Guiding Principles) [page 30]

“Danida Business Partnerships provides financial support for the implementation of CSR partnerships and CSR initiatives in a range of Denmark’s partner countries. As part of the approval process, Danida Business Finance analyses potential human rights related risks including local legislation and policies and other CSR issues. Access to finance is based on buyer’s and exporter’s compliance with ILO principles on human and workers’ rights.”

Appendix 1, GP 9

Status in Denmark (initiatives implemented before the UN ratification of the Guiding Principles) [page 31]

“The EU adheres to principles and standards on responsible business conduct such as the OECD Guidelines for Multinational Enterprises, which is also reflected in negotiations for free trade agreements that includes the area of investment. The guidelines are considered the reference document on Corporate Social Responsibility, including human rights, intended to balance the rights and obligations between investors and host states. Furthermore, it is common practice to reference in the mandate the right of the parties to adopt and enforce measures necessary to pursue legitimate public policy objectives such as social, environmental, human rights, security, public health and stability of the financial systems in a non-discriminatory manner”

Appendix 1, GP 10

Status in Denmark (initiatives implemented before the UN ratification of the Guiding Principles) [page 33]

“… Denmark has been instrumental in the establishment of the World Bank’s Nordic Trust Fund which aims to promote the application of the human rights framework in World Bank policies and operations. Denmark has also been active in promoting that The International Finance Cooperation (IFC) actively supports its clients in addressing human rights risks and impacts. Furthermore, human rights are reflected in trade agreements.”

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