Norwegian Transparency Act
SpareBank 1 Sør-Norge respects human rights and decent working conditions across its activities.
The Act relating to enterprises' transparency and work on fundamental human rights and decent working conditions (Transparency Act) entered into force 1. July 2022.
Respecting human rights and decent working conditions is central to SpareBank 1 Sør-Norge's work on sustainability. The group's work is rooted in the overall strategy for sustainability and committs the group not to contribute to breaches of human rights, labour rights and international law.
SpareBank 1 Sør-Norge's Human Right due diligence statement
The statement for 2022 covers both the parent company SpareBank 1 Sør-Norge and the wholly-owned subsidiaries, including EiendomsMegler 1 and ForretningsPartner, which are also themselves covered by the Transparency Act.
Member of UN Global Compact
SpareBank 1 Sør-Norge has been a member of UN Global Compact since 2015.
The Ten Principles of the UN Global Compact are derived from: the Universal Declaration of Human Rights, the International Labour Organization's Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the UN Convention Against Corruption. The first six principles cover human rights and decent working conditions:
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human right abuses.
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Governing documents relating to the Transparency Act
Our governing documents for sustainability reflect these principles, and ensure that we exercise caution both in our own business and in the supply chain when it comes to human rights and decent working conditions.
These guidelines can be found in our sustainability library at the bottom of this page (Norwegian version only)
- Standard for diversity and equal opportunities
- Standard for sustainability in labour and human rights
- Standard for sustainability in distribution and recommendations regarding securities funds in SpareBank 1
- Standard for sustainability in purchasing in SpareBank 1