{"id":20090,"date":"2022-10-21T10:21:00","date_gmt":"2022-10-21T10:21:00","guid":{"rendered":"https:\/\/crigroup.com\/?p=20090"},"modified":"2024-01-15T08:20:02","modified_gmt":"2024-01-15T08:20:02","slug":"the-new-norwegian-transparency-act-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/crigroup.com\/ar\/the-new-norwegian-transparency-act-heres-what-you-need-to-know\/","title":{"rendered":"The new Norwegian Transparency Act: Here’s what you need to know"},"content":{"rendered":"

T<\/span>he Norwegian Transparency Act entered into force on 1 July 2022, obliging large and mid-size companies to conduct fundamental human rights and decent working conditions due diligence throughout their supply chain and with their business partners.\u00a0<\/span><\/p>\r\n

The Transparency Act covers services and products in a broad sense. Under this Act, consumers, organisations, trade unions, journalists, and the general public will be entitled to request information from companies, and the Norwegian consumer authority may issue injunctions and fines for non-compliance.\u00a0<\/span><\/p>\r\n

Though it is a Norwegian initiative, we see similar initiatives such as Germany\u2019s Supply Chain Due Diligence Act<\/a>\u00a0or the\u00a0UK\u2019s Modern Slavery Act<\/a> in other European countries.<\/p>\r\n

Who does the Act apply?<\/h2>\r\n

The Act applies to companies registered in Norway, and foreign companies that must pay taxes in Norway. These must meet at least two of the three criteria below:<\/p>\r\n