Norwegian Transparency Act
With this Act, Norway is one of the first countries in Europe moving from soft law to hard law in making responsible business a legal requirement for companies.
Operating ethically is becoming a “must-have”. Companies are required to adopt measures to identify, cease, prevent, mitigate and publicly account for negative actual and potential human rights impacts. Measures relate to a company’s complete value chain, including indirect suppliers.
The Norwegian Transparency Act
The Transparency Act - Forbrukertilsynet entered into force on 1 July 2022. The Act places three main duties on companies:
- Due diligence: The duty to carry out due diligence to identify and assess actual and potential adverse impacts on human rights and decent working conditions in companies and their supply chains.
- Report on due diligence: The duty to publish an annual account of the due diligence process by 30 June each year.
- Right to information: The duty to respond to requests from the public on how a company addresses actual and potential adverse impacts on human rights and decent working conditions.
DNV can guide your business on meeting the requirements of the Transparency Act
- Local knowledge combined with global reach; and
- Deep specialists on human rights and decent working conditions who can assist you with human rights due diligence.
We can provide:
- Gap analysis on your company’s compliance with the Act and preparations for upcoming EU directives.
- Human rights due diligence, including a review of policies and procedures.
- Advice on human rights due diligence and follow-up of your suppliers and sub-contractors.
- Advice on annual reporting on the Act.
- Systems to comply with the information duty.
- Digital systems to help you effectively comply with the Act.
- Training around the Transparency Act and similar laws in Europe, including on human rights and decent working conditions.
- In-country audits where negative risks or impacts have been identified.
DNV can help you comply with all three duties of the Act
|1. Due diligence||We assist companies with:|
|2. Report on due diligence||We assist companies with:|
|3. Right to information||We assist companies with:|
Similar laws in Europe
A similar act entered into force from January 2023 in Germany: The new Supply Chain Act (bundesregierung.de). The EU is following this with the Corporate Sustainable Due Diligence Directive (CS3D) which will expand requirements for transparency with reporting requirements starting from 2025. These laws share a common approach and requirements – based on the UN Guiding Principles on Business and Human Rights (UNGP) and the OECD guidelines for responsible business – to make meaningful attempts at creating transparency in the supply chain. Companies * reporting properly on the Transparency Act are thus better prepared for the EU directive reporting
Ask our specialists
Heidi Solheim Nordbeck (Heidi.Solheim.Nordbeck@dnv.com)
Transparency Act, human rights due diligence & risks
Heidi is a Senior Sustainability Consultant in DNV’s Sustainability team in Høvik, Norway.
She leads consulting projects related to ESG (Environmental, Social and Governance) compliance in the energy and maritime sectors, and supports clients across sectors on compliance with the Norwegian Transparency Act and upcoming EU directives in this area.
Heidi has 20 years of international experience from advisory and consultancy services within human rights, climate change and decent working conditions from civil society, the public sector, the UN International Labour Organization and the European Free Trade Association. She holds a M.Sc in European Integration from Vrije Universiteit Brussels and in Political Science from University of Oslo.
Heidi can help you with human rights due diligence, identifying and handling fundamental human rights risks in your value chain in the best way in line with the requirements of the Transparency Act, ILO core conventions, the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles for Business and Human Rights and ESG standards.
Catharina Torp (Catharina.Torp@dnv.com)
Transparency Act, supply chains & digital solutions
Catharina is a Senior Sustainability Consultant in DNV’s Sustainability team in Høvik, Norway.
She leads consulting projects related to digital systems for ESG (Environmental, Social and Governance) in value chains, helping businesses to build efficient solutions to comply with the Transparency Act and upcoming EU directives in this area.
Catharina has a background of five years in advisory and consultancy services within procurement and digital solutions from private companies in Norway and Sweden. She holds a M.Sc in Sustainable Development and Environmental Economics from the University of St Andrews.
Catharina can help you find the best digital solutions to meet your needs in order to manage your value chain in line with the requirements of the Transparency Act.