Framework, principles and guidelines

Concordia Maritime's board and management have jointly formulated and adopted a framework that sets guidelines for how Concordia Maritime will act as a responsible company and employer. The framework consists of  internal policys and guidelines as well as external principles and recommendations. 

Sustainability policy

The sustainability policy describes ­Concordia Maritime’s overall approach to sustainability and the overall principles for control and monitoring of sustainability work.

Code of conduct

The business ethics policy includes ­Concordia Maritime’s guidelines for suppliers and partners. It also describes the relationship with employees, business partners and other stakeholders, and the attitude to gifts and bribes. This applies to all members of boards and all employees of Concordia Maritime.

Global Compact

Concordia Maritime follows the UN Global Compact initiative and the Universal Declaration of Human Rights. The Global Compact was introduced in 1999 by the UN former Secretary General Kofi Annan and is today, with over 6,000 corporate members from 135 countries, the largest global initiative for corporate responsibility and sustainability issues. Corporate Members commit themselves to live up to ten principles concerning human rights, environment, labor standards and anti-corruption, and to respect those throughout the value chain.

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OECD Guidelines for Multinational Enterprises

The OECD Guidelines for Multinational Enterprises are recommendations to multinational enterprises operating in or resident of any of the OECD countries. They deal with the companies' relationship to human rights, susstainability and working conditions.

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ILO Core Conventions

The International Labour Organizations (ILO) eight core conventions constitute a minimum standard for working conditions worldwide. This is about basic human rights at work.

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There is zero tolerance for bribery and corruption at Concordia Maritime. We are also striving to completely eliminate facilitation payments, which have traditionally been common practice in the maritime and shipping industry.

In 2016, Concordia Maritime became a member of the Maritime Anti-Corruption Network (MACN), an international initiative created by maritime industry players to share experiences and promote best practice in combating all forms of corruption and bribery. MACN is run by representatives from the maritime industry, but also collaborates with external stakeholders, including governments and international organisations (such as the United Nations Development Programme), to identify and gain in-depth understanding of the root causes of corruption in the maritime industry.

As a member of MACN, the Company undertakes to follow and implement the organisation's seven principles, which includes creating and maintaining an anti-corruption compliance programme, internal controls, reporting systems and regular internal and external reviews.