The Norwegian Transparency Act relates to companies' transparency, promoting respect for and work on fundamental human rights and decent working conditions through requirements for obliged entities. One of the requirements is for obliged entities to report on the due diligence they have performed in assessing how their business operations impact human rights and decent working conditions, both internally and in their value chain. Since the 2024/25 year, Skuld has combined this reporting with its annual financial reports. As such, interested parties may find the relevant due diligence in the most recent annual report under Skuld's Financial reports webpage.
As an obliged entity, Skuld is working systematically to meet the Transparency Act. The work involves further enhancing existing procedures and the preparation of new policies and instruction intended to protect decent working conditions and fundamental human rights with our suppliers and business partners. The work continues to build on Skuld's efforts in the area as established by our Purpose and our Code of Conduct.
Skuld's purpose is protecting ocean industries, which includes conducting our business to the highest possible ethical standard and in a manner that has a positive impact on the community. As part of this commitment, we support all efforts to eradicate modern slavery and forced labor and are committed to ensure that we promote fundamental human rights and decent working conditions. This commitment is reinforced by the Code of Conduct that sets out that no form of human rights abuse, including modern slavery or human trafficking, in any part of our business will be tolerated. Skuld's Sustainability Report outline some relevant initiatives to that extent, carried out to date.
In addition to the above, we work to get an overview of and contribute positively to how all our suppliers work with environmental protection, human rights, working conditions and anti-corruption. An annual account of our due diligence in line with the requirements of the act can be found in Skuld's annual report.
If you have any questions related to Skuld's work with the Transparency Act, please send your question to:
- E-mail: compliance@skuld.com
- Mailing address: P.O. Box 1376 Vika, NO-0114 Oslo, Norway,
Att: Chief Compliance Officer
Please specify your request in as much detail as possible and include your name and contact details.
Your inquiry will be answered within three weeks or at least within two months.