In this month's ESG alert, we highlight the first infringement penalty imposed under the Transparency Act, the implementation of the EU CSRD into Norwegian law, the Norwegian government's decision to implement CBAM into Norwegian law, EU restrictions on a sub-group of PFAS chemicals, and the latest decision from the Borgarting Court of Appeal regarding an injunction appeal from two environmental organisations.

The Norwegian Consumer Authority has on 25 September 2024 issued what appears to be the first infringement penalty for a failure to comply with the Norwegian Transparency Act. For not responding to two information requests on time, the Authority has imposed a penalty on a retail company of 450,000 NOK.

Since 1 November 2021, legal entities have been required to identify and maintain documented, up-to-date information about their ultimate beneficial owners (UBOs). As of 1 October 2024, Norwegian entities must also register their UBOs in the Brønnøysund Register pursuant to the Norwegian Act on the Beneficial Owners Registry. This means that entities must report who ultimately controls and/or owns the entity to the authorities. There is a phase-in period of 10 months, with the final registration deadline being 31 July 2025. After this date, companies that fail to register may be subject to coercive fines.

In this month's ESG alert, we describe Shell's appeal against a landmark climate ruling, the approval by EU members of a revised version of the Corporate Sustainability Due Diligence Directive as well as recent EU climate initiatives and proposals to align Norwegian climate regulations with EU standards

On 15 March 2024, the Committee of Permanent Representatives (COREPER) of the Council of the European Union (the "Council") surprisingly approved an amended draft of the Corporate Sustainability Due Diligence Directive (the "CS3D"). On 19 March, the amended draft of the CS3D was approved by the Legal Affairs Committee (JURI) of the European Parliament.

In this month's ESG alert, we highlight the EU Council's failure to endorse the Corporate Sustainability Due Diligence Directive and the European Parliament's efforts to combat gender-based violence, and provide an update on various environmental developments at the EU and Norwegian levels.

China has amended its criminal law for the 12th time with effect from 1 March 2024 by increasing penalties and adding employees of private companies to some bribery and corruption offences that currently only apply to employees of state-owned enterprises.

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Kristin provides advise within a range of compliance areas, in particular anti money laundering and business and human rights, as well as anti-corruption, sanctions and export control. Kristin has extensive experience in setting up compliance programs, performing risk assessments, advising on risk mitigating measures as well as third party management and integrity due diligence of business partners.  Kristin also assists with the legislation on registration of ultimate beneficial owners. In addition, Kristin focuses on crisis management and investigations following suspected money laundering, corruption, or other forms of misconduct, including related criminal and civil law consequences. Kristin is particularly experienced in international investigations and the managing of related legal processes in several jurisdictions.

Kristin has in-house experience from the largest Norwegian bank DNB, where she particularly focused on anti money laundering and international sanctions. Kristin's practice also includes litigation, arbitration and dispute resolution, and she has assisted in international arbitrations. Kristin has previously worked as an adviser in the Legal Department with the Norwegian Ministry of Foreign Affairs, and has wide experience from international trade law. She has participated in intergovernmental negotiations of EFTA free trade agreements, and has experience from a variety of cases within EU/EEA law. Kristin has conducted cases before the Court of Justice of the European Union and  the EFTA Court, and she also has experience from the WTO dispute settlement mechanism.

Kristin holds a Master of Laws (LL.M.) degree from University of Cambridge, England, as well as a master degree in law from University of Bergen, Norway.

Oslo

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Kristin provides advise within a range of compliance areas, in particular anti-corruption, anti money laundering, international sanctions and trade restrictions, as well as sustainability/ESG.

Kristin Nordland Brattli

Trainee; Office of the Attorney General (Civil Affairs) / Ministry of Justice

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