Transparency Act

 

The new Transparency Act came into effect on July 1st, 2022. The law requires businesses of a certain size, including Fritz Hansen Toys AS, to conduct due diligence on their suppliers, partners, and business associates, and to publish a statement about these due diligence processes.

 

The new Transparency Act "shall promote businesses' respect for fundamental human rights and decent working conditions in connection with the production of goods and delivery of services" and "ensure public access to information on how businesses handle negative consequences for fundamental human rights and decent working conditions", cf. § 1.

 

According to the Transparency Act, Fritz Hansen Toys AS is required to conduct due diligence regularly according to the OECD guidelines, cf. § 4. Furthermore, we have an obligation to provide information. This means that anyone, upon written request, has the right to information from us about how the business handles actual and potential negative consequences under § 4, cf. § 6. Fritz Hansen Toys AS shall also publish a statement about its due diligence within June 30th each year, and the statement shall be made easily accessible on the company's website, cf. § 5.

 

Fritz Hansen Toys AS 's due diligence is carried out in accordance with the OECD guidelines and consists of the following:
 

  1. Fritz Hansen Toys AS has anchored accountability internally, including in guidelines and management systems. This includes, among other things, revising all processes, documents, and templates related to procurement, sales, and other business partnerships. This ensures that Fritz Hansen Toys AS takes into account the needs related to due diligence and that our business partners commit to the same.
     

  2. Fritz Hansen Toys AS has mapped negative impact of violations of human rights and/or decent working conditions among our business contacts, in our own supply chain, etc.
     

  3. Risk of human rights and/or decent working conditions violations. The extent of the assessment to be made will be based on the level of risk. Severity will be defined by the type of service or product involved, our knowledge of the supplier, etc. As regards specific products, severity will also be defined by the following factors: Manufacturer, country of production, country of origin of the main components and raw materials, etc.
     

Consequences of the violation. The more serious the consequences the violation may have for individuals or groups, the more extensive the assessments must be. Fritz Hansen Toys AS's ability to influence the matter. The extent of the assessments and the ability to influence will depend, among other things, on the size of the customer relationship.
 

Fritz Hansen Toys AS will prevent, reduce or stop the damage(s) if violations or potential violations of human rights and/or decent working conditions are detected. This can involve various types of measures, ranging from simple measures such as extra follow-up and reporting by the supplier, to larger measures such as punitive measures, or terminating the partnership.

 

03.05.2023