Monitoring and controls

The CEO of Concordia Maritime is responsible for coordinating and running the Company’s sustainability work on an  overall level and regularly reporting on developments to the Board. 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.

Concordia Maritime has a number of internal regulations, which with the external regulations and laws provide the framework for the Company’s operations. They include the Articles of Association, the Board’s rules of procedure, the CEO’s instructions, the Code of Conduct, the sustainability policy, the information policy, the financial policy and authorisation instructions.

Close cooperation with partners

A large proportion of Concordia Maritime’s daily operational work is purchased from cooperation partners, mainly Stena Bulk (chartering and commercial operation) and Northern Marine Management  (operation, manning and maintenance). Consequently, the Company’s sustainability work is largely reflected in the work carried out in the partners’ operations. The collaboration is based on openness, transparency and trust.

The Company works continuously with its partners to develop sustainable working practices and further improve the sustainability performance. 

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

Both Stena Bulk and NMM 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. 

Group-wide whistleblower function 

Within the Stena Sphere, there is a Groupwide whistleblower system. Employees who discover something that violates Concordia Maritime’s, Stena Bulk’s or NMM’s codes of conduct, values, policies or applicable law are able to report the malpractice anonymously. The service is provided by an external partner and all information is encrypted, which further strengthens security.