Monitoring and controls

THE CORNERSTONES FOR INTERNAL SUSTAINABILITY are Concordia Maritime’s Code of Conduct and Sustainability Policy. The Code is based on internationally recognised conventions and guidelines, such as the UN’s Conventions on Human Rights, the ILO’s Conventions, OECD Guidelines and the UN Global Compact, which Concordia Maritime signed in 2015.

Concordia Maritime’s Code of Conduct sets out applicable guiding principles to ensure operations are conducted in an ethically, socially and environmentally correct way, and deals with areas such as the environment, social conditions, personnel, human rights and anticorruption. The Code applies to all employees without exception, and training in it is compulsory for all employees. 

The Code of Conduct also deals with relationships with business partners, with Concordia Maritime reserving the right to withdraw from a relationship if a partner does not meet the standards of business ethics that the Group expects. The CEO of Concordia Maritime is responsible for coordinating and driving the Company’s sustainability work on an overall level and reporting regularly to the Board about developments. The Board continuously monitors the Group’s work on sustainability issues. Developments are always dealt with as a separate agenda item at each ordinary Board meeting.

Close cooperation with partners

A large proportion of Concordia Maritime’s day-to-day operational work is purchased from partners, mainly Stena Bulk (chartering and commercial operation) and Northern Marine Management (manning, operation and maintenance). Ongoing sustainability efforts are therefore largely reflected in the work carried out in each partner’s operations. The cooperation is based on openness, transparency and trust. We continuously work together to develop sustainable working practices and improve our sustainability performance. 

Concordia Maritime conducts a quarterly follow-up of safety, environmental and social issues with representatives of Stena Bulkand Northern Marine Management. Vetting deviation reporting is conducted on a weekly basis. The results are recorded and used in ongoing improvement work.

Both Stena Bulk and Northern Marine Management have well-developed systems, procedures and processes to ensure that their operations are conducted in line with defined goals and Concordia Maritime’s Code of Conduct. Both companies are also covered by Stena AB’s Code of Conduct,
which is essentially similar to Concordia Maritime’s Code. The Code and other relevant policies are published on each partner’s intranet to ensure they are available to all employees.

The Codes of Conduct are also an integral part of the employment contract and part of the introductory programs for new employees and new business partners. Training in the Code and
its application is compulsory for all employees within the partner organisations. During the year, an e-learning course was provided to train employees in the Code.