Norwayʼs New Transparency Act: An Overview in Light of International Trends

Abstract

There is a need for more information about human rights violations and poor working conditions in global supply chains. Various international guidelines already require companies to take responsibility for their value chains, yet compliance with these guidelines is for the most part voluntary. The new Norwegian Transparency Act reflects an international trend of implementing statutory requirements based on international principles with the purpose of increasing companiesʼ efforts to respect human rights and ensure decent working conditions in their global supply chain. This article presents selected international principles and frameworks aimed at promoting corporate social responsibility and provides an introduction to the main duties imposed on companies that are subject to the new Transparency Act.

Keywords

• Norwegian Transparency Act
• OECD Guidelines for Multinational Enterprises
• corporate social responsibility
• human rights and decent working conditions
• supply chain management