From 1. On July 2022, the new Law on the Transparency of Enterprises and Work with Fundamental Human Rights and Decent Working Conditions (the Transparency Act) comes into force. It “shall promote businesses' respect for fundamental human rights and decent working conditions in connection with the production of goods and the provision of services, and ensure public access to information on how businesses deal with adverse consequences for fundamental human rights and decent working conditions.”
VAQ is a business that will be covered by this Act, and in that regard we will be obliged to carry out due diligence assessments and define areas of our business that involve risks of violations of basic human rights and decent working conditions. These due diligence assessments are to be incorporated into an annual report that we will make public so that our customers and the general public generally have access to it. According to the legislation, the first report is to be published on 30.06.2023, but work on mapping and risk assessment is of course already underway.
At VAQ, we build RAS facilities for customers and we trade in input factors in the form of goods and services from many different countries. We estimate that this poses our absolute greatest areas of risk, and is where we place the main emphasis of our work. It is an ongoing process to follow up, and to ensure that we have good practices in place to detect and manage risks in our own supply chain and among the goods and services we purchase from others.
As a Norwegian company with a supply chain that can extend far, also from a global perspective, it is limited how much influence we as a business can have on the various links. By providing clear requirements and expectations for our suppliers and business partners in the form of Code-of-Conduct documents, as well as carefully selecting which suppliers we want to work with, we will have good control over risks in our own business.
People who want visibility into the work being done can send a written request to VAQ AS. Persons submitting a request are entitled to information about how the business deals with actual and potential adverse consequences under §4 of the Act. This includes both general information and information relating to a particular product or service offered by the business.
For more detailed information on the Act's purpose, scope, definitions, etc., please refer to:
https://lovdata.no/dokument/NL/lov/2021-06-18-99