Nevion is compliant with the Norwegian Transparency Act

Nevion is compliant with the Norwegian Transparency Act

The Norwegian Transparency Act, which is based on OECD guidelines, aims to promote respect for fundamental human rights and decent working conditions within organizations, while also ensuring public access to information. The work related to the Transparency Act is anchored within the board of directors, and the company has initiated a process to develop internal guidelines and due diligence assessments of its own operations, business partners, and supply chains.

The Norwegian Transparency Act, came into effect on July 1, 2022.

Human rights due diligence process

Nevion is committed to respecting internationally recognized human and labor rights, both within our own operations and across our entire value chain.

In order to fulfill this commitment, we have reviewed our internal procedures to ensure that we adhere to the OECD’s guidelines for conducting diligent evaluations in responsible business practices. This process involves identifying, assessing, preventing, and mitigating human rights risks throughout the entire value chain of the business.

Risk assessment

We have conducted an initial evaluation of our vendors and countries of origin in order to assess the supply chain and identify areas of potential high risk.

We have carried out an overall screening of all suppliers based on certain categories such as geography and expenditure, and have arrived at a prioritized list of the suppliers we believe are most at risk.

We consider hardware and ICT products to be the most significant concern regarding potential breaches on human rights and fair labor conditions. Consequently, we have placed emphasis on monitoring and addressing the practices of our major suppliers and distributors in this sector.

We have identified vendors that pose the highest level of risk and have conducted screenings using World-Check. This platform provides information to assist businesses in meeting regulatory requirements and detecting potential financial crimes

We maintain regular communication and monitoring of our suppliers through supplier screening in connection with entering contracts. To uphold our commitments, Nevion relies on close collaboration with suppliers who commit to following our guidelines, and in turn, require the same from their own suppliers. This way, the guidelines will impact businesses further down the value chain. If the supplier is not willing to handle damage or risk, it may be necessary to terminate the relationship with the supplier. Ending a supplier relationship will always be a last resort, only after attempts at collaboration for improvements have been made.

To ensure the health and safety of workers involved in the supply chain of Nevion’s products, the company is following a RoHS (Restrictions of Hazardous Substances) and REACH (registration, evaluation, authorisation and restriction of chemicals) requirements as well as US TSCA (The Toxic Substance Control Act). The primary objective of this is to protect both workers and the environment from the potential risks associated with the use of hazardous chemicals. Nevion also follows Sony’s green partner program, which aims to ensure that the suppliers and business partners meet certain environmental standards and requirements.

Through our continuous risk assessment starting in 2022, we have not determined any significant level of risk. We conduct and review this process on an annual basis.

If you have any questions, please contact Nevion at sustainability@nevion.com