{"id":13562,"date":"2024-04-09T11:56:39","date_gmt":"2024-04-09T11:56:39","guid":{"rendered":"https:\/\/sharecontrol.io\/?p=13562"},"modified":"2024-09-19T11:21:23","modified_gmt":"2024-09-19T11:21:23","slug":"the-transparency-act-for-foreign-businesses","status":"publish","type":"post","link":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/","title":{"rendered":"The Transparency Act for foreign businesses"},"content":{"rendered":"\n<p><strong>The Norwegian Transparency Act requires over 9,000 Norwegian companies to monitor human rights in their own operations and supply chain. Foreign businesses may also be covered. In this article you can read more about the requirements required under the Transparency Act for non-Norwegian companies.<\/strong><\/p>\n<h1 class=\"wp-block-heading\" id=\"the-transparency-act-for-foreign-businesses\"><strong>The Transparency Act for foreign businesses<\/strong><\/h1>\n<p>The Transparency Act is one of several Norwegian measures to meet the <a href=\"https:\/\/fn.no\/om-fn\/fns-baerekraftsmaal\/anstendig-arbeid-og-oekonomisk-vekst\" target=\"_blank\" rel=\"noreferrer noopener\">UN&#8217;s sustainability goal no. 8 on decent work and economic growth<\/a>, and <a href=\"https:\/\/fn.no\/om-fn\/fns-baerekraftsmaal\/ansvarlig-forbruk-og-produksjon\" target=\"_blank\" rel=\"noreferrer noopener\">goal no. 12 on responsible consumption and production<\/a>. <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h2 class=\"wp-block-heading\" id=\"the-requirements-of-the-transparency-act\"><strong>The requirements of the Transparency Act<\/strong><\/h2>\n<p>The Transparency Act requires businesses to <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/due-diligence-assessments-according-to-the-transparency-act\/\">carry out due diligence assessments<\/a> in accordance with the OECD&#8217;s guidelines for multinational companies. Furthermore, the businesses must <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/due-diligence-report-according-to-the-transparency-act\/\">give an account of their findings<\/a> in connection with actual and potential negative consequences for basic human rights and decent working conditions. The legislation also refers to the <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/information-requirements-in-the-transparency-act\/\">information requirement<\/a>, which means that the business must answer any questions about the company&#8217;s handling of basic human rights in its supply chain. There are also <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/anchoring-accountability-the-transparency-act\/\">requirements for anchoring responsibility in the board<\/a> ahead of the above-mentioned requirements.<\/p>\n\n<p><strong><a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/human-rights-and-decent-working-conditions\/\">Read more about basic human rights and decent working conditions here<\/a>.<\/strong><\/p>\n\n<p><strong>The deadline for reporting is set for 30. June each year.<\/strong><\/p>\n\n<figure class=\"gb-block-image gb-block-image-bdf3fdf7\"><a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/templates-for-the-transparency-act-a-procedure-for-enforcing-the-acts-requirements\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" width=\"1848\" height=\"1042\" class=\"gb-image gb-image-bdf3fdf7\" src=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act.jpg\" alt=\"The steps in the Transparency Act\" title=\"Steps in the Transparency Act\" srcset=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act.jpg 1848w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act-300x169.jpg 300w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act-1024x577.jpg 1024w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act-768x433.jpg 768w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2023\/11\/Steps-in-the-Transparency-Act-1536x866.jpg 1536w\" sizes=\"(max-width: 1848px) 100vw, 1848px\" \/><\/a><\/figure>\n<h3 class=\"wp-block-heading\" id=\"implement-monitor-and-evaluate-measures\"><strong>Implement, monitor and evaluate measures<\/strong><\/h3>\n<p>In accordance with <a href=\"https:\/\/lovdata.no\/dokument\/NL\/lov\/2021-06-18-99\" target=\"_blank\" rel=\"noreferrer noopener\">the Transparency Act<\/a>, companies must implement routines and processes to identify risks and implement measures to prevent, reduce and rectify any <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/negative-consequences-in-the-transparency-act\/\">negative consequences<\/a>. A system for handling the data is therefore recommended for businesses with a larger group of suppliers. <\/p>\n\n<p>Companies themselves must monitor and evaluate the effectiveness of the measures implemented and make the necessary adjustments to ensure continuous improvement. <\/p>\n\n<p>Find out more about our solution <a href=\"https:\/\/sharecontrol.io\/en\/products\/sharecontrol-transparency-software-for-the-transparency-act\/\"><strong>ShareControl Transparency here<\/strong><\/a>!<\/p>\n<h3 class=\"wp-block-heading\" id=\"why-is-the-transparency-act-important\"><strong>Why is the Transparency Act important?<\/strong><\/h3>\n<p>The purpose of the act is to eliminate and follow up actual and potential risks related to violations of general human rights and decent working conditions in the company&#8217;s own business and in the supply chain. Where it exists risk or discovery of a violation of human rights, <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/measures-against-violations-of-human-rights-and-decent-working-conditions\/\">measures<\/a> must be taken to prevent, reduce consequences or stop activity. It must also be assessed whether compensation claims or the like are necessary in cases where the damage has led to disadvantages for society or people.<\/p>\n\n<div class=\"wp-block-uagb-image uagb-block-ccdd3177 wp-block-uagb-image--layout-default wp-block-uagb-image--effect-zoomin wp-block-uagb-image--align-none\"><figure class=\"wp-block-uagb-image__figure\"><img decoding=\"async\" srcset=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Hvorfor_apenhetsloven_er_viktig-1024x582.jpg ,https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Hvorfor_apenhetsloven_er_viktig-1024x582.jpg 780w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Hvorfor_apenhetsloven_er_viktig.jpg 360w\" sizes=\"auto, (max-width: 480px) 150px\" src=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Hvorfor_apenhetsloven_er_viktig-1024x582.jpg\" alt=\"\" class=\"uag-image-13553\" width=\"1024\" height=\"582\" title=\"Hvorfor_\u00e5penhetsloven_er_viktig\" loading=\"lazy\" role=\"img\"><\/figure><\/div>\n\n<p>The Transparency Act is intended to help reduce the risk of human rights violations and poor working conditions in Norwegian and foreign businesses and supply chains. At the same time, the Act must ensure the general public access to information about how businesses handle actual and potential negative consequences linked to their business. This can contribute to increased awareness and commitment from both customers, investors and other stakeholders.<\/p>\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h2 class=\"wp-block-heading\" id=\"which-foreign-companies-are-covered\"><strong>Which foreign companies are covered?<\/strong><\/h2>\n<p>The Transparency Act requires all businesses that exceed two of the following criteria:<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenue<\/strong>: NOK 70 million <\/li>\n\n\n\n<li><strong>Balance amount<\/strong>: NOK 35 million <\/li>\n\n\n\n<li><strong>Average number of employees in the financial year<\/strong>: 50 man-years<\/li>\n<\/ul>\n\n<p>For foreign businesses that are not domiciled in Norway or that have their head office in another country, they will have the same reporting obligation as Norwegian businesses if the above criteria are met. One of the prerequisites, however, is that the business is liable to tax in Norway according to internal Norwegian legislation and supplies goods or services in Norway. The business must also have income as a result of it being operated or managed from\/in Norway in accordance with Section 2-3 of the Tax Act. The Act thus makes no requirement that the business must have a geographical connection to Norway, in the form of a branch, office or other fixed place of business in order to be covered by the Transparency Act.<\/p>\n\n<p>Foreign enterprises that are defined as large enterprises, including. public limited companies, listed companies, banks, credit companies, financing companies, etc. and who sell goods or services in Norway are defined by the legislation. Furthermore, Sections 1-2 of the Accounting Act form the framework for duty subjects.<\/p>\n\n<p><strong>Read also<\/strong>: <a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/templates-for-the-transparency-act-a-procedure-for-enforcing-the-acts-requirements\/\">Templates for the Transparency Act &#8211; a procedure for enforcing the law&#8217;s requirements<\/a><\/p>\n<h3 class=\"wp-block-heading\" id=\"creation-of-subsidiaries\">Creation of subsidiaries<\/h3>\n<p>For businesses that establish subsidiaries in Norway, the provision given above does not apply. The business can thus often fail to report according to the Transparency Act if a subsidiary is established in Norway, which is defined as a separate tax subject, and which cannot tick off two of the criteria mentioned above. The accounting figures for the parent company may, however, be covered by the legislation, if the accounting figures for the subsidiary and parent company together exceed the criteria above. The parent company can also be covered by the legislation if it is defined as a large company (public limited company, listed company, bank, credit company, financing company, etc.) or meets the criteria above, but requires that the company supplies goods or services in Norway. <\/p>\n\n<p>Foreign companies are also free to report according to the Transparency Act, even if the business is not covered by the requirements of the Act. This may be based on the company&#8217;s own guidelines for social responsibility and human rights in its own operations and supply chain.<\/p>\n\n<p><a href=\"https:\/\/www.forbrukertilsynet.no\/vi-jobber-med\/apenhetsloven\/hvem-har-plikter-etter-apenhetsloven#utenlandske-virksomheter\">Read more about the Transparency Act for foreign businesses on the Norwegian Consumer Protection Authority&#8217;s (Forbrukertilsynet) website<\/a>.<\/p>\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h2 class=\"wp-block-heading\" id=\"corporate-sustainability-due-diligence-directive-csddd\"><strong>Corporate Sustainability Due Diligence Directive (CSDDD)<\/strong><\/h2>\n<p>More and more countries are now introducing legislation in the hope of improving human rights and helping to solve the environmental problems facing the world. <a href=\"https:\/\/commission.europa.eu\/business-economy-euro\/doing-business-eu\/corporate-sustainability-due-diligence_en\" target=\"_blank\" rel=\"noreferrer noopener\">The Corporate Sustainability Due Diligence Directive<\/a> (CSDDD) is a new EU directive which aims to promote sustainable and responsible business practices among large companies within and outside the EU. <\/p>\n\n<p>The directive requires companies to carry out thorough due diligence assessments to identify, prevent, reduce and account for negative impacts on human rights and the environment throughout their value chain. By harmonizing these requirements across the EU, CSDDD seeks to ensure a level playing field and to avoid legal fragmentation between member states. <\/p>\n<h3 class=\"wp-block-heading\" id=\"differences-between-the-norwegian-transparency-act-and-the-csddd\">Differences between the Norwegian Transparency Act and the CSDDD <\/h3>\n<p>The Transparency Act and the Corporate Sustainability Due Diligence Directive (CSDDD) share many similarities, but also have significant differences that are important to understand. Both laws aim to ensure responsible business practices by requiring companies to carry out due diligence assessments to identify and address negative impacts on human rights and the working environment. <\/p>\n\n<p>The Transparency Act is specific to Norwegian and foreign companies operating in Norway, with a particular focus on human rights and working conditions. It provides clear guidelines for how these assessments are to be carried out and reported, and gives the <a href=\"https:\/\/www.forbrukertilsynet.no\/\" target=\"_blank\" rel=\"noreferrer noopener\">Norwegian Consumer Protection Authorit<\/a>y the authority to supervise and impose sanctions in the event of a breach. <\/p>\n\n<p>On the other hand, CSDDD has a wider scope that includes large EU-based companies and non-EU companies with significant turnover in the EU. This directive also includes environmental impacts and requires companies to draw up climate action plans in line with the Paris Agreement. CSDDD seeks to harmonize regulations across the EU to avoid legal fragmentation and ensure a level playing field. The implementation of the CSDDD requires member states to establish national supervisory authorities to monitor compliance and deal with sanctions. Furthermore, the CSDDD allows for compensation claims from victims who suffer damage due to a lack of due diligence assessment. <\/p>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<figure class=\"gb-block-image gb-block-image-d8de7e82\"><img decoding=\"async\" width=\"2045\" height=\"1452\" class=\"gb-image gb-image-d8de7e82\" src=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller.jpg\" alt=\"Differences between the CSDDD and the Transparency Act\" title=\"CSDDD and the Transparency Act differences\" srcset=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller.jpg 2045w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller-300x213.jpg 300w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller-1024x727.jpg 1024w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller-768x545.jpg 768w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/CSDDD-og-apenhetsloven-forskjeller-1536x1091.jpg 1536w\" sizes=\"(max-width: 2045px) 100vw, 2045px\" \/><\/figure>\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h3 class=\"wp-block-heading\" id=\"who-is-covered-by-csddd\">Who is covered by CSDDD? <\/h3>\n<p>The Corporate Sustainability Due Diligence Directive (CSDDD) applies to large companies within the EU and certain non-EU companies that have significant activity within the EU. More specifically, the directive covers EU-based companies with more than 1,000 employees and an annual turnover of more than 450 million euros globally. In addition, it includes non-EU companies that have an annual turnover of over \u20ac450 million within the EU. <a href=\"https:\/\/www.ey.com\/no_no\/climate-change-sustainability-services\/csddd-eus-aapenhetslov-setter-standarden-for-ansvarlig-naeringsliv\" target=\"_blank\" rel=\"noreferrer noopener\">As EY explains on its website<\/a>, small and medium-sized enterprises (SMEs) are not directly covered by the directive, but may be indirectly affected as suppliers in the value chains of the larger companies covered.  <\/p>\n\n<p>CSDDD may lead to changes in the Norwegian Transparency Act, and Norwegian businesses should be prepared to have to strengthen their processes for additional due diligence requirements. <\/p>\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h2 class=\"wp-block-heading\" id=\"solution-for-the-transparency-act\"><strong>Solution for the Transparency Act<\/strong><\/h2>\n<p><a href=\"https:\/\/sharecontrol.io\/en\/products\/sharecontrol-transparency-software-for-the-transparency-act\/\">ShareControl Transparency<\/a> makes it easier for companies to collect data from the company&#8217;s supply chain in one system, both with regard to the implementation and assessment of due diligence assessments and the generation of reports. By collecting all data related to the Transparency Act in one system, you avoid the risk of non-compliance and can have full confidence that you are complying with them. With ShareControl Transparency you can easily regain control over your suppliers.<\/p>\n\n<p>Collect information from your suppliers and enter data and documentation, so that you can more easily carry out risk analyses, due diligence assessments and take measures. Send out surveys with questions about the supplier&#8217;s handling of human rights and decent working conditions, either through <a href=\"https:\/\/forms.office.com\/\">Forms<\/a> or <a href=\"https:\/\/dynamics.microsoft.com\/en-us\/customer-voice\/overview\/\">Customer Voice<\/a>. In this way, you ensure compliance with the Transparency Act, while streamlining several of the processes.<\/p>\n\n<div class=\"wp-block-uagb-buttons uagb-buttons__outer-wrap uagb-btn__default-btn uagb-btn-tablet__default-btn uagb-btn-mobile__default-btn uagb-block-d840ba98\"><div class=\"uagb-buttons__wrap uagb-buttons-layout-wrap \">\n<div class=\"wp-block-uagb-buttons-child uagb-buttons__outer-wrap uagb-block-f09b4426 wp-block-button\"><div class=\"uagb-button__wrapper\"><a class=\"uagb-buttons-repeater wp-block-button__link\" aria-label=\"\" href=\"https:\/\/sharecontrol.io\/en\/products\/sharecontrol-transparency-software-for-the-transparency-act\/\" rel=\"follow noopener\" target=\"_self\" role=\"button\"><div class=\"uagb-button__link\">Find out more<\/div><\/a><\/div><\/div>\n<\/div><\/div>\n\n<div style=\"height:50px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<h3 class=\"wp-block-heading\" style=\"font-size:22px\" id=\"see-more-articles-about-the-transparency-act\"><strong>See more articles about the Transparency Act:<\/strong><\/h3>\n<style>.wp-show-posts-columns#wpsp-10598 {margin-left: -80px; }.wp-show-posts-columns#wpsp-10598 .wp-show-posts-inner {margin: 0 0 80px 80px; }<\/style><section id=\"wpsp-10598\" class=\" wp-show-posts-columns wp-show-posts\" style=\"\"><article class=\" wp-show-posts-single post-15410 post type-post status-publish format-standard has-post-thumbnail hentry category-transparency-act tag-transparency-act wpsp-col-6\" itemtype=\"http:\/\/schema.org\/CreativeWork\" itemscope><div class=\"wp-show-posts-inner\" style=\"\">\t\t<div class=\"wp-show-posts-image  wpsp-image-center \">\n\t\t\t<a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/negative-consequences-in-the-transparency-act\/\"  title=\"Negative consequences in the Transparency Act\"><img decoding=\"async\" width=\"800\" height=\"500\" src=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/09\/Negative-konsekvenser-i-apenhetsloven.jpg\" class=\"attachment-full size-full wp-post-image\" alt=\"Negative konsekvenser i \u00e5penhetsloven\" itemprop=\"image\" srcset=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/09\/Negative-konsekvenser-i-apenhetsloven.jpg 800w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/09\/Negative-konsekvenser-i-apenhetsloven-300x188.jpg 300w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/09\/Negative-konsekvenser-i-apenhetsloven-768x480.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a>\t\t<\/div>\n\t\t\t\t\t\t\t\t<header class=\"wp-show-posts-entry-header\">\n\t\t\t\t\t\t\t<h3 class=\"wp-show-posts-entry-title\" itemprop=\"headline\"><a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/negative-consequences-in-the-transparency-act\/\" rel=\"bookmark\">Negative consequences in the Transparency Act<\/a><\/h3><div class=\"wp-show-posts-entry-meta wp-show-posts-entry-meta-below-title post-meta-inline\"><span class=\"wp-show-posts-posted-on wp-show-posts-meta\">\n\t\t\t\t\t<a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/negative-consequences-in-the-transparency-act\/\" title=\"9:12 am\" rel=\"bookmark\"><time class=\"wp-show-posts-entry-date published\" datetime=\"2024-09-18T09:12:54+01:00\" itemprop=\"datePublished\">September 18, 2024<\/time><time class=\"wp-show-posts-updated\" datetime=\"2024-09-20T05:59:30+01:00\" itemprop=\"dateModified\">September 20, 2024<\/time><\/a>\n\t\t\t\t<\/span><\/div>\t\t\t\t\t\t<\/header><!-- .entry-header -->\n\t\t\t\t\t<\/div><!-- wp-show-posts-inner --><\/article><article class=\" wp-show-posts-single post-13895 post type-post status-publish format-standard has-post-thumbnail hentry category-transparency-act tag-transparency-act wpsp-col-6\" itemtype=\"http:\/\/schema.org\/CreativeWork\" itemscope><div class=\"wp-show-posts-inner\" style=\"\">\t\t<div class=\"wp-show-posts-image  wpsp-image-center \">\n\t\t\t<a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/anchoring-accountability-the-transparency-act\/\"  title=\"Anchoring accountability &#8211; The Transparency Act\"><img decoding=\"async\" width=\"800\" height=\"500\" src=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Anchoring_of_Accountabillity_Transparency.jpg\" class=\"attachment-full size-full wp-post-image\" alt=\"\" itemprop=\"image\" srcset=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Anchoring_of_Accountabillity_Transparency.jpg 800w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Anchoring_of_Accountabillity_Transparency-300x188.jpg 300w, https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Anchoring_of_Accountabillity_Transparency-768x480.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a>\t\t<\/div>\n\t\t\t\t\t\t\t\t<header class=\"wp-show-posts-entry-header\">\n\t\t\t\t\t\t\t<h3 class=\"wp-show-posts-entry-title\" itemprop=\"headline\"><a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/anchoring-accountability-the-transparency-act\/\" rel=\"bookmark\">Anchoring accountability &#8211; The Transparency Act<\/a><\/h3><div class=\"wp-show-posts-entry-meta wp-show-posts-entry-meta-below-title post-meta-inline\"><span class=\"wp-show-posts-posted-on wp-show-posts-meta\">\n\t\t\t\t\t<a href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/anchoring-accountability-the-transparency-act\/\" title=\"10:04 am\" rel=\"bookmark\"><time class=\"wp-show-posts-entry-date published\" datetime=\"2024-04-22T10:04:37+01:00\" itemprop=\"datePublished\">April 22, 2024<\/time><time class=\"wp-show-posts-updated\" datetime=\"2024-09-19T10:57:11+01:00\" itemprop=\"dateModified\">September 19, 2024<\/time><\/a>\n\t\t\t\t<\/span><\/div>\t\t\t\t\t\t<\/header><!-- .entry-header -->\n\t\t\t\t\t<\/div><!-- wp-show-posts-inner --><\/article><div class=\"wpsp-clear\"><\/div><\/section><!-- .wp-show-posts -->\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Norwegian Transparency Act requires over 9,000 Norwegian companies to monitor human rights in their own operations and supply chain. Foreign businesses may also be covered. In this article you can read more about the requirements required under the Transparency Act for non-Norwegian companies. The Transparency Act for foreign businesses The Transparency Act is one &#8230; <a title=\"Anchoring accountability &#8211; The Transparency Act\" class=\"read-more\" href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/anchoring-accountability-the-transparency-act\/\" aria-label=\"Read more about Anchoring accountability &#8211; The Transparency Act\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":13566,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[41],"tags":[58],"class_list":["post-13562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transparency-act","tag-transparency-act","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Transparency Act for foreign businesses<\/title>\n<meta name=\"description\" content=\"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Transparency Act for foreign businesses\" \/>\n<meta property=\"og:description\" content=\"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\" \/>\n<meta property=\"og:site_name\" content=\"ShareControl\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-09T11:56:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-19T11:21:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ragnar Bryne\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ragnar Bryne\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\"},\"author\":{\"name\":\"Ragnar Bryne\",\"@id\":\"https:\/\/sharecontrol.io\/en\/#\/schema\/person\/99f5e6698beb16989a49823ce163432f\"},\"headline\":\"The Transparency Act for foreign businesses\",\"datePublished\":\"2024-04-09T11:56:39+00:00\",\"dateModified\":\"2024-09-19T11:21:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\"},\"wordCount\":1486,\"publisher\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg\",\"keywords\":[\"Transparency Act\"],\"articleSection\":[\"Transparency Act\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\",\"url\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\",\"name\":\"The Transparency Act for foreign businesses\",\"isPartOf\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg\",\"datePublished\":\"2024-04-09T11:56:39+00:00\",\"dateModified\":\"2024-09-19T11:21:23+00:00\",\"description\":\"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?\",\"breadcrumb\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage\",\"url\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg\",\"contentUrl\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg\",\"width\":800,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sharecontrol.io\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Transparency Act\",\"item\":\"https:\/\/sharecontrol.io\/en\/category\/transparency-act\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"The Transparency Act for foreign businesses\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sharecontrol.io\/en\/#website\",\"url\":\"https:\/\/sharecontrol.io\/en\/\",\"name\":\"ShareControl\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/sharecontrol.io\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/sharecontrol.io\/en\/#organization\",\"name\":\"ShareControl\",\"url\":\"https:\/\/sharecontrol.io\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sharecontrol.io\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2022\/05\/cropped-logo-sc-default-minified-small.png\",\"contentUrl\":\"https:\/\/sharecontrol.io\/wp-content\/uploads\/2022\/05\/cropped-logo-sc-default-minified-small.png\",\"width\":900,\"height\":200,\"caption\":\"ShareControl\"},\"image\":{\"@id\":\"https:\/\/sharecontrol.io\/en\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/sharecontrol.io\/en\/#\/schema\/person\/99f5e6698beb16989a49823ce163432f\",\"name\":\"Ragnar Bryne\",\"description\":\"Ragnar Bryne er partner og gr\u00fcnder i Share Control. Ragnar har mer enn 35 \u00e5rs allsidig erfaring fra ulike lederstillinger i en rekke st\u00f8rre nasjonale og internasjonale foretak, samt fra konsulentvirksomhet og gr\u00fcnder av IT-selskap. Erfaring ogs\u00e5 fra KPMG og EY. Siden 2014 har han v\u00e6rt gr\u00fcnder og eier av Share Control og har v\u00e6rt en sterk st\u00f8ttespiller til selskapets virksomhet, produkter og kunder.\",\"sameAs\":[\"https:\/\/sharecontrol.io\",\"https:\/\/www.linkedin.com\/in\/ragnar-bryne-5267023\/\"],\"url\":\"https:\/\/sharecontrol.io\/en\/author\/ragnar\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Transparency Act for foreign businesses","description":"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/","og_locale":"en_US","og_type":"article","og_title":"The Transparency Act for foreign businesses","og_description":"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?","og_url":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/","og_site_name":"ShareControl","article_published_time":"2024-04-09T11:56:39+00:00","article_modified_time":"2024-09-19T11:21:23+00:00","og_image":[{"width":800,"height":500,"url":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg","type":"image\/jpeg"}],"author":"Ragnar Bryne","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ragnar Bryne","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#article","isPartOf":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/"},"author":{"name":"Ragnar Bryne","@id":"https:\/\/sharecontrol.io\/en\/#\/schema\/person\/99f5e6698beb16989a49823ce163432f"},"headline":"The Transparency Act for foreign businesses","datePublished":"2024-04-09T11:56:39+00:00","dateModified":"2024-09-19T11:21:23+00:00","mainEntityOfPage":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/"},"wordCount":1486,"publisher":{"@id":"https:\/\/sharecontrol.io\/en\/#organization"},"image":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage"},"thumbnailUrl":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg","keywords":["Transparency Act"],"articleSection":["Transparency Act"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/","url":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/","name":"The Transparency Act for foreign businesses","isPartOf":{"@id":"https:\/\/sharecontrol.io\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage"},"image":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage"},"thumbnailUrl":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg","datePublished":"2024-04-09T11:56:39+00:00","dateModified":"2024-09-19T11:21:23+00:00","description":"Norwegian and foreign businesses have several obligations under the Transparency Act, but what is required of foreign companies?","breadcrumb":{"@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#primaryimage","url":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg","contentUrl":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg","width":800,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/sharecontrol.io\/en\/transparency-act\/the-transparency-act-for-foreign-businesses\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sharecontrol.io\/en\/"},{"@type":"ListItem","position":2,"name":"Transparency Act","item":"https:\/\/sharecontrol.io\/en\/category\/transparency-act\/"},{"@type":"ListItem","position":3,"name":"The Transparency Act for foreign businesses"}]},{"@type":"WebSite","@id":"https:\/\/sharecontrol.io\/en\/#website","url":"https:\/\/sharecontrol.io\/en\/","name":"ShareControl","description":"","publisher":{"@id":"https:\/\/sharecontrol.io\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sharecontrol.io\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/sharecontrol.io\/en\/#organization","name":"ShareControl","url":"https:\/\/sharecontrol.io\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sharecontrol.io\/en\/#\/schema\/logo\/image\/","url":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2022\/05\/cropped-logo-sc-default-minified-small.png","contentUrl":"https:\/\/sharecontrol.io\/wp-content\/uploads\/2022\/05\/cropped-logo-sc-default-minified-small.png","width":900,"height":200,"caption":"ShareControl"},"image":{"@id":"https:\/\/sharecontrol.io\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/sharecontrol.io\/en\/#\/schema\/person\/99f5e6698beb16989a49823ce163432f","name":"Ragnar Bryne","description":"Ragnar Bryne er partner og gr\u00fcnder i Share Control. Ragnar har mer enn 35 \u00e5rs allsidig erfaring fra ulike lederstillinger i en rekke st\u00f8rre nasjonale og internasjonale foretak, samt fra konsulentvirksomhet og gr\u00fcnder av IT-selskap. Erfaring ogs\u00e5 fra KPMG og EY. Siden 2014 har han v\u00e6rt gr\u00fcnder og eier av Share Control og har v\u00e6rt en sterk st\u00f8ttespiller til selskapets virksomhet, produkter og kunder.","sameAs":["https:\/\/sharecontrol.io","https:\/\/www.linkedin.com\/in\/ragnar-bryne-5267023\/"],"url":"https:\/\/sharecontrol.io\/en\/author\/ragnar\/"}]}},"uagb_featured_image_src":{"full":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg",800,500,false],"thumbnail":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business-150x150.jpg",150,150,true],"medium":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business-300x188.jpg",300,188,true],"medium_large":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business-768x480.jpg",768,480,true],"large":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg",800,500,false],"1536x1536":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg",800,500,false],"2048x2048":["https:\/\/sharecontrol.io\/wp-content\/uploads\/2024\/04\/Norwegian_Transparency_Act_Foreign_Business.jpg",800,500,false]},"uagb_author_info":{"display_name":"Ragnar Bryne","author_link":"https:\/\/sharecontrol.io\/en\/author\/ragnar\/"},"uagb_comment_info":0,"uagb_excerpt":"The Norwegian Transparency Act requires over 9,000 Norwegian companies to monitor human rights in their own operations and supply chain. Foreign businesses may also be covered. In this article you can read more about the requirements required under the Transparency Act for non-Norwegian companies. The Transparency Act for foreign businesses The Transparency Act is one&hellip;","_links":{"self":[{"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/posts\/13562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/comments?post=13562"}],"version-history":[{"count":10,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/posts\/13562\/revisions"}],"predecessor-version":[{"id":15460,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/posts\/13562\/revisions\/15460"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/media\/13566"}],"wp:attachment":[{"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/media?parent=13562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/categories?post=13562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sharecontrol.io\/en\/wp-json\/wp\/v2\/tags?post=13562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}