Promon and the Norwegian Transparcency Act (Åpenhetsloven)
Purpose and scope
The Transparency Act sets requirements for businesses that are domiciled in Norway and that offer goods and services in or outside Norway. The law provides that companies should:
- Carry out human rights’ due diligence in its own business and value chain
- Publicly account for its due diligence, including its procedures and identified risks
- Provide information upon request
The latter requires companies to respond to requests from the general public on how the company is managing actual or potential human rights impacts across its organization and supply chain. If you have questions about how Promon works to ensure human rights and employee rights in the supply chain and with our business partners, you can direct these to firstname.lastname@example.org.
Promon’s board has decided that Promon should carry out a risk assessment in the value chain, covering purchase of goods, services and other purchases.
The risk assessment is a process undertaken to identify, prevent, reduce and document how Promon handle potential negative impacts on basic human rights and decent working conditions. When Promon performs risk assessments with focus on human rights, it is important to emphasize that the risk involved in these assessments is not the risk for the company itself, but for the person or people affected further down the value chain.
In Promon we should act as a precaution and to all means possible work to prevent contributing to situations that directly or indirectly affects human rights. If such situations would occur, we should immediately help rectify the situation and provide compensatory measures.
Promon annually purchases goods and services from different kind of vendors. The most significant purchase categories are consulting services from both the IT, legal and financial industries as well as software purchases. Most suppliers are Norwegian or based in the Nordics and Europe.
Promon’s obligation to safeguard human rights and to carry out risk assessments in its work with suppliers is based on Promon’s internal guidelines for procurement. All vendors that supply goods and services to Promon are evaluated on an ongoing basis and reassessed annually as the global picture might change.