The Transparency Act
The Transparency Act is a law passed by the Norwegian Parlament, which entered into force on 1 July 2022. The Act is intended to promote companies' respect for fundamental human rights and decent working conditions, and to ensure public access to information.
Annual report in accordance with the Transparency Act
Pursuant to Section 5 of the Transparency Act, Act 2021-06-18-99, Statkraft is obliged to publish a report on the due diligence assessments the company has carried out pursuant to Section 4 of the Act. Statkraft has chosen to integrate the report into its annual report, as permitted by law in section 5, third paragraph.
This includes those who are independently required to report under Section 3 of the Act, with the exception of Skagerak Energi, Fosen Vind DA and Mer Norway AS. They have chosen to fulfil their reporting obligations under the Act independently of Statkraft AS, through their own corporate reporting.
Find our Transparency Act Statement in the annual report for 2024 here
About the Enerfin transaction:
November 2024
In July 2024, Statkraft (see below) reported that we had identified several risks of a low and moderate nature related to human rights through our due diligence process in connection with the acquisition of Enerfin.
During Q3, Statkraft continued its efforts to integrate Enerfin into the company. No further risks related to human rights have been identified.
A review of existing information and dialogue with responsible business units has confirmed adequate and generally well-documented consultation processes in projects with indigenous communities in the surrounding area.
Statkraft will continue to work with former Enerfin employees and external advisors to further understand risks and align previous Enerfin procedures with Statkraft's governing documents.
July 2024
In May 2024, Statkraft completed a transaction for the acquisition of Enerfin, a Spanish company active in the development, operation and management of wind and solar projects worldwide. Due diligence of Enerfin has revealed several low and moderate risks related to human rights.
The identified risks are related to potential inconsistencies between Statkraft and Enerfin's policies and practices for whistleblowing channels, the use of security personnel and community engagement related to indigenous communities in the vicinity of a small number of early-stage projects.
As part of the measures to integrate Enerfin into the Statkraft Group, Statkraft is currently working with Enerfin and with third-party advisors to better understand the risks and to bring Enerfin's practices and policies into line with Statkraft's. More details will be disclosed as they become available in future quarterly and annual reports.
More information about the Enerfin transaction can be found in our annual report for 2023 and quarterly report for 2024.