The purpose of the Transparency Act is to promote businesses’ respect for basic human rights and decent working conditions in business relationships and in supply chains. An essential part of the law is to ensure the public’s access to information regarding these conditions and how businesses handle them. Together with other measures, the legal requirement will contribute to Norway’s work to meet and comply with the UN’s sustainability goal no. 8 on decent work and economic growth, as well as goal no. 12 on responsible consumption and production. The core of the law involves the duty to carry out and account for due diligence assessments. Due diligence assessments mean that businesses must map possible negative consequences for basic human rights and decent working conditions related to production and supply chains, implement improvement measures, follow up and report.
North Sea Infrastructure AS (NSI) has established and implemented a separate Code of Conduct. The policy is based on the UN’s guiding principles for business and human rights and describes the main principles for how we will handle the human and employee rights that are most relevant to day-to-day operations. The Code states that NSI is committed to;
- Provide a safe and secure environment for all personnel on our plants and facilities.
- Prevent harm to the environment from our business activities.
- Conduct our business in an open, transparent and accurate manner.
- Among other things the Code states that NSI will;
- Respect the integrity of our people and only use personal data for appropriate purposes.
- Expect our suppliers and business partners to comply with applicable laws and adhere to ethical standards which are consistent with our own.
NSI’s business activities includes ownership in two gas infrastructure assets on the Norwegian Continental Shelf. Its ownership interests are minority stakes, and the day-to-day operations are carried out by the operator Gassco, supported by its Technical Service Providers (TSPs) Equinor and Norske Shell. Thus, NSI does not have a direct relationship to suppliers in our business activities, except for some limited office services. NSI relies on Gassco’s and the TSPs’ procedures for following up on the Transparency Act, and follow this up through the governance system established in the assets that NSI owns. This consists of;
- Agreements and procedures covering operations of assets and adherence to all relevant rules and regulations, hereunder the Transparency Act.
- Periodic management meetings (Operating Committee; Management Committees; Company Meeting).
- Audits of the operator and the TSP’s adherence to the agreements, rules and regulations.
Following the introduction of the Transparency Act at 1 July 2023 NSI have a strong focus on ascertaining that it is being adhered to by Gassco and the TSPs, as well as ourselves in regard to any direct supplier relationships that NSI has or enters into. Gassco is the operator of Vestprosess, and Equinor is the TSP. Gassco address their approach for meeting the requirements under the Transparency Act in the Vestprosess Annual Report for 2023 (enclosed), on p.3 onwards; Report on due diligence assessments in accordance with the Norwegian Transparency Act.
Gassco is the operator of Nyhamna, and Norske Shell is the TSP. Gassco address their approach for meeting the requirements under the Transparency Act on page 22 in Gassco’s annual report for 2023 (enclosed; this covers all Gassco’s operated assets including Vestprosess).