The Norwegian Code of Practice for Corporate Governance, 2014

Norway Current 2014

Developed by the Norwegian Corporate Governance Board, the Code seeks to ensure that companies listed on regulated markets in Norway will practice corporate governance more comprehensively than what is required by law. The Code requires the board of directors to issue a “comprehensive corporate governance report” (on a comply or explain basis). According to Section 1 of the Code, the board must provide a report on the company’s corporate governance in the Directors’ Report or in a document that is referred to in the Directors’ Report. The report on corporate governance must cover every section of the Code of Practice. If the company does not fully comply with this Code of Practice, the company must provide an explanation of the reason for the deviation and what solution it has selected. The board is expected to define the company’s basic corporate values and formulate ethical and corporate social responsibility guidelines in accordance with such values.

Scope

General sustainability/ESG/non-financial

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

All listed companies

Issuer type

Corporate Governance Board

Type of instrument

Code of conduct or guideline

Mandatory or voluntary

Mandatory

The geographical scope

National

Project Partners