Åpenhetsloven is a significant development in Norway’s approach to supply chain regulation. This law requires companies to conduct due diligence throughout their supply chains to prevent human rights abuses. It applies to large companies, including those based outside of Norway, and can result in fines for non-compliance.
In this latest Achilles Ultimate Guide, we take a detailed look at the Norwegian Transparency Act (Åpenhetsloven), who it applies to, what it means to those organisations (and their suppliers) that need to comply and provide advice on how to get started based on our own experience of supporting organisations with supply chain risk assessment and compliance gained for more than 30 years.
This law marks an important step towards a more responsible and sustainable global economy. While the risk-based approach specified by Åpenhetsloven may present some challenges for businesses, it is a necessary measure to effectively address the negative impact that supply chains can have on people and the planet. As other countries consider similar legislation, it is likely that supply chain transparency and accountability will become increasingly important in the global marketplace.
