Governance

Sustainability is integrated into Odfjell’s governance, decision-making, and risk management processes. The Board of Directors has overall responsibility for overseeing sustainability performance and ensuring that business conduct and strategy align with our ethical standards, regulatory requirements, and long-term sustainability goals. The Audit Committee supports the Board by overseeing ESG-related matters, reporting, and business conduct.

Responsibility for sustainability is shared across Odfjell’s leadership. The CEO ensures sustainability is integrated into the company’s strategy and operations, while the Chief Sustainability Officer (CSO) leads sustainability initiatives, reporting, training, and the management of sustainability-related risks and opportunities. The CSO regularly reports to both the Board of Directors and the Audit Committee.

Odfjell is committed to ethical business conduct, compliance with applicable laws, and internationally recognized principles, including the UN Global Compact and the UN Guiding Principles on Business and Human Rights. We conduct due diligence on suppliers, provide compliance training, and maintain a whistleblowing system that allows employees and third parties to report concerns confidentially.

Odfjell manages supplier relationships through its Corporate Supplier Conduct Principles, which set expectations for ethical business practices, human rights, labor standards, environmental responsibility, and anti-corruption. Suppliers are required to comply with these principles through contractual commitments, due diligence processes, and ongoing monitoring.

Our supplier management framework also includes sanctions screening, know-your-customer (KYC) procedures, and compliance measures related to anti-money laundering, competition law, and anti-corruption. Through regular communication, training, and performance reviews, we work to build responsible, transparent, and long-term supplier partnerships.

Odfjell is committed to recycling vessels safely, responsibly, and in line with international standards. We only use certified recycling facilities that comply with the Hong Kong Convention, EU Ship Recycling Regulation, and ISO 30000 requirements.

To protect both people and the environment, we conduct due diligence on recycling partners, monitor the recycling process, and require strict standards for worker safety, hazardous material handling, and environmental protection. This approach supports circular economy principles while ensuring responsible end-of-life management of our vessels.