Act amending the Norwegian Accounting Act

The Act introduces provisions requiring large companies to provide information about what they do to integrate considerations for human rights, labor rights and social issues, the environment and anti-corruption in their business strategies, in their daily operations, and in their relations with their stakeholders.

Issuer name

Norwegian Parliament

Government ministry

Finance/Treasury

More information

"As a minimum, the report must contain information about policies, principles, procedures and standards that are followed to integrate these considerations. Subsidiaries are exempt from having to report on social responsibility if the parent company does so for the entire group. The Ministry of Finance has been delegated authority to exempt companies that prepare a public report according to the Global Compact principles or GRI’s Framework. "

Organizations covered by the instrument

Large private and listed companies

Industry scope

All/none specified

Disclosure venue

Annual and sustainability reportNA

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

Human Rights, Employment Conditions, Policies and Practices, Social Impacts & Value Creation

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour, Stakeholder Engagement

Status

Current

Country

Norway

Region

Europe

Date of publication

2013

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Go to the instrument