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.