Statement in accordance with the Transparency Act
Reporting on due diligence
Kymar Group's anchoring of responsibility
Kymar Group, with its subsidiaries (hereinafter referred to as Kymar Group), complies with the Act on Business Transparency and Work with Fundamental Human Rights and Decent Working Conditions (the Transparency Act). All companies commit to respecting fundamental human rights and decent working conditions in our guidelines.
Kymar AS and Kymar Group AS were categorized as major enterprises for the first time (cf. the Accounting Act §1-5) on the balance sheet date 31.12.2022. All companies comply with Norwegian legislation for health, environment and safety and for equality and absence of discrimination. All Kymar Group representatives are obliged to follow our ethical guidelines. We also expect all our suppliers and business partners to have ethical standards that comply with our ethical guidelines and applicable laws.
Kymar Group is a nationwide total supplier and service partner within electrical, automation and electromechanical rotating equipment. The group sells products and delivers services to customers within the land-based industry, oil and gas, shipping and marine sectors.
The responsibility of all companies to comply with the Act on Business Transparency and work with fundamental human rights and decent working conditions is anchored in the board, management and the daily managers of the subsidiaries. The owner and approver of the guidelines is the board of Kymar Group. The group's CFO is the functional owner, and is responsible for maintenance, communication and follow-up of the guidelines together with the QA&HMS manager.
Due diligence assessments
All Kymar Group companies operate in Norway, which is defined as a country with a generally low risk of adverse human rights impacts related to business activities. However, we are aware of and monitor the potential adverse impacts from our operations and in our supply chain.
Our process
The Group conducts due diligence in line with the UN Guiding Principles on Business and Human Rights (UNGPs) and the OECD Guidelines for Multinational Enterprises. This is an ongoing process that identifies, prevents and accounts for negative impacts on human rights and decent work conditions related to the production of goods and the provision of services in all departments of Kymar Group, associated suppliers and the rest of the supply chain.
Kymar Group conducts due diligence assessments individually for each of its three operating companies. A separate model is used, which takes a risk-based approach based on the suppliers' products and services, the country in which they operate and the volume of purchases made by our companies. The purpose of this model is to uncover possible negative consequences related to human rights and decent working conditions.
Measures
The Group has set a strategy of the following measures to stop, prevent and limit negative consequences. To date, no actual negative consequences have been identified.
Reporting a violation or suspicion
privacylaw@kymar.no
