Transparency Act

Prosafe complies with laws and rules and regulations applicable to its business. The company adheres to international recognised principles and guidelines such as the Universal Declaration of Human Rights, the key conventions of the International Labour Organisation, the OECD Guidelines for Multinational Enterprises and the principles of the United Nations Global Compact.

The Norwegian Transparency Act which came into force on 1 July 2022 introduces additional  requirements for the level of detail reported on basic human rights and decent working conditions for own business, supply chain and business partners.

Achievement of compliance with the Transparency Act’s requirements will be ensured as follows:

  1. Anchor accountability in the Board of Directors
  2. Launch a stand-alone Human Rights Policy
  3. Anchor in Prosafe’s Internal Management System
  4. Build employee awareness and competence by the roll out of an e-learning program with focus on human rights and labour standards
  5. Update requirements to suppliers and business associates
  6. Map suppliers and business associates
  7. Perform Supplier Risk assessment
  8. Perform Supplier Audits
  9. Initiate required actions to stop, prevent or reduce any negative impact or damage
  10. Monitor implementation and results
  11. Report in the annual ESG report

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