Due diligence assessments are an internationally recognised tool designed to help businesses act responsibly by surveying the risk of negative impacts and harm from their own activities and those of suppliers and business partners.
Responsible business conduct
While many Norwegian businesses want to act responsibly, doing so can be challenging in practice. The contact point’s guidelines have been developed in collaboration with key Norwegian stakeholders, and include a helpful introduction to the OECD’s due diligence methodology.
“We encourage all companies and other business-sector stakeholders, particularly employee and employer organisations, to make active use of the new guidelines, and to maintain their efforts to promote responsible business conduct,” say Minister of Foreign Affairs Ine Eriksen Søreide, Minister of International Development Nikolai Astrup and Minister of Trade and Industry Torbjørn Røe Isaksen.
A helpful tool
Export Credit Norway expects its customers – whether exporters or borrowers – to carry out risk-based due diligence assessments for their projects. According to Fanny Fabricius Bye, sustainability manager at Export Credit Norway, while the number of companies implementing effective measures in this area has increased, many still have some way to og.
Norwegian businesses can undoubtedly intensify their focus on due diligence obligations and expectations related to people and the environment – in their own businesses, in their supply chains and, to some degree, in their dealings with customers. The OECD Due Diligence Guidance is a helpful, comprehensive resource in this regard, says Fabricius Bye.
She adds that the guidelines provide both a thorough introduction to the topic and practical examples of how companies can conduct due diligence assessments.
“The purpose of the guidelines is to promote a common understanding of what is expected of businesses in terms of responsible conduct, and of how businesses should survey their potential negative impacts. The guidelines introduce the methodology and explain how to conduct due diligence assessments in accordance with the OECD Guidelines for Multinational Enterprises.
Due diligence for responsible business conduct
Published 11. Jan 2019