NORWEGIAN TRANSPARENCY ACT STATEMENT 2024

Regus Business Centre Norge AS

Introduction

This statement is issued in accordance with the Norwegian Transparency Act, which requires Regus Business Centre Norge AS to disclose, on an annual basis, their efforts to protect fundamental human rights and ensure decent working conditions within their operations and supply chain.

Business Operations

Regus Business Centre Norge AS (referred to as "Regus" in this document) is a wholly owned subsidiary of International Workplace Group PLC (IWG). Regus employs over 70 individuals, predominately focused on centre operations.

IWG, a workplace solutions provider headquartered in Switzerland, partners with property owners and investors globally to offer the largest network of flexible workspaces for businesses of all types and sizes. Key offerings include a global network of high-quality workspaces, a unique approach to franchising and partnerships with building owners, and technology platform solutions. Through their unique global infrastructure, they deliver a comprehensive service that ensures their partners, franchisees, and end customers have a great day at work.

IWG has over 10,000 employees across more than 120 countries. Regionally, EMEA is the largest market by revenue, accounting for approximately 50% of IWG's total revenue, followed by the Americas at 40%, while APAC and other regions contribute the remaining 10%.

Governance

Regus complies with its parent company IWG’s core standards, policies, and procedures, including the management of human rights and decent working conditions. IWG’s Legal Team leads efforts in ethics and compliance, while the Board, supported by the IWG Audit Committee, oversees risk management, compliance, and ethical practices.

Regus has comprehensive policies that establish minimum compliance standards and effective risk management, ensuring the fair and consistent treatment of all individuals while fostering an open and transparent workplace.

Regus upholds zero tolerance toward modern slavery, ensuring ethical conduct in all business relationships. Regus drives awareness of its commitment to human rights and eradicating modern slavery through employee training, with the Executive Committee, which consists of functional heads and executive officers, including members from Sustainability, Procurement and Human Resources.

Regus’ extensive global supply chain encompasses a wide array of products and services, and each supplier and jurisdiction presents unique risks and management challenges. To manage and mitigate these risks, Regus applies a robust governance framework outlined in the Supplier Code of Conduct, which is integral to the supplier selection and onboarding process.

Policies

Please see below a summary of Regus’ policies relevant to human rights and decent working conditions. For comprehensive details, please refer to each individual policy.

Fair Treatment Policy Regus’s Fair Treatment Policy includes the protection of basic rights and freedoms to which all people are entitled, as stated in the United Nations Declaration of Human Rights. Regus also adheres to the following international standards to inform and guide its commitments: the UN Guiding Principles on Business and Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, the OECD Guidelines for Multinational Enterprises, and the UN Children’s Rights and Business Principles.
Statement of Commitment Regus is committed to conducting business ethically and honestly, with a zero-tolerance policy towards bribery and corruption, applicable to all employees and third-party partners. The company emphasises transparency in business dealings, prohibits both active and passive bribery, and implements measures such as a Gifts and Hospitality policy, due diligence processes, and conflict of interest rules to prevent corrupt practices. Breaches of these principles may result in disciplinary action for employees or the termination of contracts with third parties, and a whistleblowing protection policy is in place to address any reported misconduct.
Modern Slavery Act Statement In accordance with the UK’s Modern Slavery Act 2015, Regus has a zero-tolerance policy towards any form of human rights abuse, including modern slavery or human trafficking, across all parts of its business and supply chain. Regus’s practices for recruitment and retention are in line with local employment laws and deliver annual training for all team members on key policies.
Supplier Code of Conduct Regus is committed to protecting the environment, conducting business lawfully and with integrity, treating employees with dignity, ensuring workplace safety, and respecting local communities. Suppliers are expected to comply with environmental regulations, uphold human rights, maintain a respectful workplace, and contribute positively to the communities in which they operate. The company emphasises ethical practices, including a zero-tolerance policy for bribery and corruption, transparent business dealings, and the safeguarding of confidential information, while fostering diversity and inclusion in the workforce.
Right to Speak Policy Regus encourages all employees to bring any matters of concern to the Internal Committee. A whistleblowing channel can be used anonymously by any employee via email, the web, or the IWG Learning Academy.

Due diligence assessment & mitigation measures

Risk Management

Direct Operations

IWG’s global policies outline the principles and expectations governing Regus’s direct operations, including the management of risks related to human rights and working conditions. Risk management is an integral part of IWG and its subsidiaries’ operational practices and strategic planning. IWG conducts regular enterprise-wide risk reviews to identify and consider potential risks to the Group and its strategy. IWG calculates their possible impact and implements strategies to protect the interests of IWG and all its stakeholders.

Regus operates within general corporate functions and follows an established corporate governance framework that prioritises ethical practices and operations. To ensure compliance with local employment laws, Regus implements comprehensive policies, training programmes, and conducts regular audits. The company carries out regular enterprise-wide risk reviews to identify and assess potential risks, employing IWG’s top-down and bottom-up approach to risk management, which is applied across all levels of the business.

Regus operates the Three Lines model to manage risk, overseen by the audit committee with additional board-level oversight.

  • Frontline business operations: Responsible for day-to-day compliance with IWG group policies, procedures, internal controls, and management of risk in line with functional objectives.
  • Corporate functions: Accountable for the design and implementation of risk management processes and controls, as well as the review and appraisal of key risks.
  • Independent assurance: Tests the design and operation of implemented risk policies and procedures, provides recommendations for improvement and drives their implementation across the business.

IWG’s 2023 risk review highlighted a range of risks across various categories within its annual report. Supply chain transparency, ethics, and compliance were identified as key risks to protecting fundamental human rights and ensuring decent working conditions within operations and supply chains.

Supply Chain Transparency

Supply chain transparency emerged as a stand-alone principal risk to the business in 2023. Regus operates through an extensive supply chain and large third-party network, encompassing a wide range of products and services across multiple jurisdictions, which present varied levels of risk. To manage this, Regus implemented the following measures:

  • A centralised global supply chain, enabling enhanced transparency across the entire supply chain.
  • Consolidation of the supply chain to national and regional suppliers where possible.
  • IWG’s Code of Conduct and Terms and Conditions are sent to all suppliers to clarify expectations.
  • The rollout of a global ESG framework for suppliers, focusing on a detailed questionnaire that large suppliers (those with over £1 million in revenue) are required to complete.

The supplier questionnaire within the global ESG framework is a key stage of the screening process to detect any potential or existing risks. It assesses suppliers' business operations and practices in areas such as equality, labour, and health and safety.

There are different levels of escalation, and suppliers must comply with issued actions to continue operations. Low-level risks are escalated to the Category Manager, and mitigation actions are discussed with the supplier. High-level risks are escalated to the Group Audit function, which carries out a risk audit with the Category Manager and agrees on a plan to eliminate risks. A detailed review programme has been planned and scheduled for the end of 2024 to better understand the current level of risks in supply chain transparency.

Ethics and Compliance

Regus recognises that employee ethical misconduct or regulatory non-compliance, whether accidental or deliberate, could result in significant financial losses, reputational damage, business disruption, and a decline in staff morale.

A range of mitigation measures has been implemented to address these existing and potential risks. These include visible ethical leadership and a robust governance framework, incorporating a detailed Code of Conduct, mandatory training for all employees (e.g. on gifts and hospitality, anti-bribery, and corruption) and an independent and confidential ethics hotline available to employees, contractors, and third parties.

Continuous Improvement

Regus is committed to upholding the highest standards of ethical and responsible business conduct. To achieve this, Regus continually enhances its policies, governance frameworks, operational structures, and the methods and programmes used to implement them effectively.