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Act relating to enterprises' transparency and work on fundamental human rights and decent working conditions (Transparency Act)

Act relating to enterprises' transparency and work on fundamental human rights and decent working conditions

Norway Forthcoming 2021

Entry into force in 2022, it applies to larger enterprises that are resident in Norway and that offer goods and services in or outside Norway. The Act also applies to larger foreign enterprises that offer goods and services in Norway, and that are liable to tax to Norway. These companies will need to take steps to identify, address, prevent and limit violations of human rights or decent working conditions – whether potential or actual impacts. They must provide or cooperate with efforts to provide remedy for any violations. The Act also requires companies to report on all of these activities and make this information available on their corporate websites, promoting transparency.

Issuer name

Norwegian Ministry of Children and Families

Government ministry

Other

Organizations covered by the instrument

Large private and listed companies

Target organization notes

The Act applies to larger enterprises that are resident in Norway and that offer goods and services in or outside Norway. The Act also applies to larger foreign enterprises that offer goods and services in Norway, and that are liable to tax to Norway pursuant to internal Norwegian legislation

Industry scope

All/none specified

Status

Forthcoming

Country

Norway

Region

Europe

Date of publication

2021

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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