The Transparency Act in Norway

The Transparency Act – our responsibility

Åpenhetsloven, hereby referred to as The Transparency Act, enters into force on the 1st of July 2022 in Norway. The law is intended to accentuate and ensure companies’ respect for the UN’s fundamental human rights and decent working conditions. The law requires disclosure and annual due diligence assessments from all companies affected.

VENI Energy Group has anchored responsibility for the UN’s fundamental human rights and decent working conditions within the company’s guidelines, which are our foundation for all future activity. The commitment applies to everyone who is affected by our business in Norway. The group expects that our subsidiaries, employees, business partners and other parties associated with our activities, products and services respect the Working Environment Act (arbeidsmiljøloven) and internationally recognized human rights.

For many years, we have had sustainability on the agenda, and VENI Energy Group AS has been a certified Eco Lighthouse since 2007. We work in accordance with the UN Global Compact’s ten principles for responsible business practices, and MJ Hudson performs annual external audits of our ESG work (Environmental, Social & Governance). We make purchases of services and materials from companies registered within the EU. The group contributes yearly to UNICEF, Bellona, ​​Zero and ECOenergia’s work with sustainability.

The group’s internal guidelines cover requirements for decent working conditions, the protection of and compliance with human rights, HSE routines, anti-corruption, sustainability, internal reporting routines and data and personal privacy protection. All our employees are obligated to follow the group’s internal guidelines.

VENI Energy Group has initiated the work with The Transparency Act and is currently in the process of mapping out and prioritizing areas for the due diligence process. We aim to finalize a list of priority areas by the 1st of November 2022 and encourage you to check our website regularly for any updated information on the process. Due diligence assessments of our suppliers will be carried out based on the priority list. The group is now working actively to implement suitable systems for follow-up of our suppliers and to ensure a detailed Supplier Code of Conduct is implemented for further collaboration. This, in turn, will ensure that VENI Energy Group AS does not contribute to violations of human rights, poor working conditions or other negative impact on the environment and employment. In accordance with the Transparency Act, the results of the due diligence assessments will be published on our website by the 30th of June 2023.

Inquiries for information (innsynsbegjæringer) to VENI Energy Group with subsidiaries regarding our work with the Transparency Act, basic human rights and decent working conditions, or possible findings, can be directed to compliance@venienergy.com. Please specify in the email which of our companies the inquiry applies to.

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