Implementing Global Principles on Responsible Business Conduct: transparency, human rights and anti-corruption obligations in practice
Transparency, responsible business conduct with regard to environmental, social and governance responsibilities have become an integral part of any business vocabulary in the last decades. Companies who can show to internal guidelines, best practices and transparent processes of due diligence will have a competitive benefit and gain the trust of the consumers. At the same time, companies have increased in size and areas of operation, making them necessary global actors in ensuring human rights, anticorruption and sustainable development.
Both Norway and Chile have adopted the UN Guiding Principles on Business and Human Rights, as well as the OECD Due Diligence Guidance for Responsible Business Conduct. More and more countries adopt national legislation to implement these principles and guidelines. Norway adopted a new Transparency Act that came into force 1st July 2022, which requires Norwegian companies, whether they operate in Norway or abroad, to conduct due diligence assessments. They must look at both their own business, their supply chain and their business partners to find out where the biggest risks are. Furthermore, it gives consumers the right to request information on how companies apply the need for due diligence in their value chains. The aim is to provide more transparency regarding the production of goods and the provision of services, especially relating to how businesses respect fundamental human rights and decent working conditions as part of these processes Main objectives are that the Act will lead to improvements in these areas and that the information available will allow consumers to make more informed choices.
On the occasion of the new Norwegian Transparency Act, the Norwegian Embassy, together with The Economic Commission for Latina America and the Caribbean (ECLAC) and the Pontificia Universidad Católica de Valparaíso, invite you to a seminar on implementing global principles on responsible business conduct, with a special emphasis on transparency, human rights and anti-corruption. Norwegian and Chilean as well as international actors will come together to discuss and share knowledge and experiences related to future company conduct, as well as the two countries’ commitment to address findings responsibly.