Biowater Technology AS – strategy in relation to the due diligence assessment (aktsomhetsvurderinger) in the supply chain.
Biowater Technology AS has a firm belief in being open and transparent about our business corporation, sales, and purchasing practices. We strive to ensure that equal and decent values and rights are being obtained in every aspect of our business operations and our value chain (including suppliers, customers, partners, and other business relationships).
As of July 2022, the Transparency Act (Åpenhetslovn) came into force in Norway. § 4 of the act covers a duty to perform due diligence assessments (aktsomhetsvurderinger) in line with the OECD’s guidelines for multinational companies. This process ensures, amongst other factors:
- Accountability is anchored in a company’s guidelines
- Actual and potential negative consequences for basic human rights and decent working conditions that the business has either caused or contributed to, or that are linked to the business, products or services through supply chains or business partners are surveyed and assessed.
- Suitable measures to stop, prevent or limit negative consequences based on the business’s priorities and assessments are implemented.
- The implementation and results of measures are monitored.
- Handling of negative consequences are communicated with affected stakeholders.
- Recovery and compensation is arranged for where this is required.
How does Biowater Technology AS handle the requirement for due diligence assessments?
- Biowater Technology AS has a separate Ethical code of conduct (comprising anti-corruption and bribery policy, prevention of sexual exploitation and abuse (SEA), and respect for basic human rights and decent working conditions).
- We are a member of the UN Global compact which requires to annually report our progress in meeting the UN’s guiding principles for business and human rights, and sustainable development goals.
- We issue an annual statement concerning our areas of operation and about the relevance of sustainable development to the company and our company’s impact on both people and the environment.
- We have a procedure concerning handling of issues relating to breaches of human rights and decent working conditions.
- We have organizational sustainability targets, in accordance with our company’s Mission of People, Partner, Process and Planet.
- We monitor risks related to our business model within a formal risk register and review process that cascades from an overall business level to individual project level.
- We require all our direct suppliers and partners (both nationally and internationally) to approve our Code of Conduct, which describes our requirements related to human rights and other topics within sustainability.
- We hold an action log that identifies adverse impacts and issues concerning compliance.
For more information please refer the following documents:
- Biowater Technology AS UN Global compact progress report – latest version
- Biowater Technology AS Suppliers Code of Conduct (KON02) – latest version
- Biowater Technology AS Annual Report – latest version
- Company Anti-corruption and Bribery policy 2023.pdf
- Company accounts NORWEGIAN
- Company Accounts ENGLISH