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Transparency Act

The Transparency Act, a Norwegian law that requires larger companies to report on the work they conduct to ensure compliance with fundamental human rights and decent working conditions, entered into force on July 1, 2022. During the first half of 2022, Scatec engaged a third party to conduct a gap analysis against the requirements of the Transparency Act and the OECD Guidelines for Multinational Enterprises.

Requirements in the Act:

  • Undertake human rights due diligence aligned to the OECD guidelines
  • Report externally on human rights
  • Respond to requests for information from the public

Best practice implemented by Scatec:

  • Human rights policy is aligned to international standards
  • Impact and risk assessments are continuously implemented and managed in project development and supplier management processes
  • Grievance mechanism in all projects in line with the IFC Performance Standards

Actions taken by Scatec to ensure alignment:

  • Established an internal working group between various business units including Sustainability, Compliance and Supply Chain
  • Further development of human rights risk assessments to ensure this is more specific and the management of risks are systematic across business units
  • Revised and strengthened the Integrity Due Diligence (IDD) questionnaire for third parties to improve inclusion of human rights considerations

Scatec will publish our Transparency Act Statement 2022 in June 2023 as per the Transparency Act requirements.

Refer to the Human rights chapter in our ESG Performance Report 2022 available on our corporate website.