At V.Group, Governance and Leadership does not just apply to our senior teams: it is how all colleagues, contractors and suppliers conduct themselves and align with our ethos of honesty, ambition and care. Leadership & Governance
V.Group ESG Charter As V.Group we must be a strong voice in the industry, ensuring that our global network and business partners work as one to minimise the impact of our operations, whilst still providing a safe, dependable, and commercially viable service for the benefit of all. To this end, we believe this first step we are taking in creating our ESG Charter is both prudent and an encouragement to business partners to move in a similar direction. Environmental Climate Change Through our ship management activities, all managed vessels comply with MARPOL’s energy efficiency regulations and other regulations. From both a commercial and environmental sustainability point, we continually aim to maximise efficiency and minimise fuel use. Through our collaboration with industry partners, we wish to explore the development of a new generation of technologies and alternative fuel solutions. One such initiative is our strategic partnership with Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping to reinforce our commitment to decarbonisation of the shipping industry. Water We continue to support our customers in the phased implementation of measures under the International Convention for the Control and Management of Vessels’ Ballast Water and Sediments, to prevent the spread of harmful aquatic organisms from one region to another. Recycling and Waste V.Group supports customers in fully abiding by the Industry Code of Practice on Ship Recycling which includes minimising the amount of potentially hazardous materials onboard their vessels. Elimination of Single-Use-Plastics Single-use plastic is a significant threat to life in the ocean and the planet as a whole. The shipping industry has a proud history of facilitating the flow of trade and over the last few decades has been proactive in improving its environmental performance. Here at V.Group we have a goal of zero pollution from plastic waste to sea and are committed to continuously minimising the generation of shipboard waste. Social Health & Safety V.Group is committed as a priority to protect the health, safety, and wellbeing of everyone involved in or affected by our activities. V.Group is committed to the on-going and continual improvement of its Safety and Quality Management Systems and pursues the long-term goals of zero injuries to colleagues working ashore and afloat. Commercial considerations shall not take precedence over safety and environmental protection.
Human Rights We respect all human rights of all individuals. Human rights belong to all individuals regardless of race, colour, sex, language, religion, political opinions, or views. Equality and Diversity We strive for equal opportunity, regardless of age, sex, race, sexual orientation, marital status, age, disability, or religion. Furthermore, V.Group is committed to provide a culture free from harassment, bullying, victimisation or discrimination. All colleagues and clients should be treated with respect, dignity, and courtesy. Workers’ Rights Group fully complies with the Maritime labour Convention, 2006 across all its managed vessels. Governance is provided through robust auditing and certification of its vessels and Seafarer Recruitment and Placement Service providers. Governance An effective corporate governance framework is of crucial importance. Well-governed companies are likely to be more resilient, sustainable, and competitive. Leadership As a part of our broader strategy and our bold ambitions with regards to ESG, we have created a dedicated ‘Sustainability & Decarbonisation’ department which will position V.Group at the forefront of the transition to a more sustainable shipping industry. Overseeing this department, V.Group has appointed a dedicated role of Director, Sustainability & Decarbonisation. Bribery and Corruption Controls Any transactions in the nature of bribes are strictly forbidden. It is illegal to pay or receive a bribe whether paid or received directly or indirectly. These principles apply equally in any country in which the company operates or carries on business. In support of this policy, V.Group are members of the Maritime Anti-Corruption Network (MACN). Compliance & Ethics We implement the following Compliance & Ethics Policies: • Anti-Corruption, • Anti-Money Laundering • Competition Law Policy • Modern Slavery • Sanctions • Data Protection Policy • Speak Up Policy
Building a resilient and inspired team requires us to prioritise competency and diversity. The V.Group recruitment process continues to focus on the identification and development of talent, with particular attention paid to the value brought to our organisation by diversity of thought. This, to us, means creating an environment where people feel empowered to help shape our organisation, regardless of their gender, sexual-orientation, ethnicity, religion, or any other characteristic. This desire to have diversity of minds means we continue to not only have robust non-discriminatory hiring practices but pursue the active development of current colleagues who will continue to strengthen our organisation. We realise there are current pipeline issues, however, we are determined that we will be part of changing the way the industry approaches these fundamental issues. We regularly conduct structured talent reviews within each business unit and function across the group. Selected individuals identified through this process go on to participate in a career development planning discussion, which aims to define a tailored individual development plan. We are constantly monitoring and reviewing our talent pipeline and processes to identify any improvements that could be made to better align with our vision to foster an inclusive workplace. V.Group invest in cadet and graduate training programmes that will ultimately benefit both our business and the broader
industry. The nurturing of young talent and interest is one way we can help to ensure our expanding industry remains innovative through generations to come. Our commitment to operating with utmost integrity is one that spans all areas of our business, both on shore and at sea. We maintain high expectations of all colleagues, requiring them to undergo training relating to our Code of Conduct on a regular basis. This training reinforces our employees’ responsibility to act in accordance with our values. We expect the best from ourselves and those whom we work with. The Group’s Open Reporting Policy has been effective in giving our employees a mechanism to report any concerns relating to any issues from malpractice to health and safety. We can proudly state that, once again, no fines or charges associated with bribery and corruption were incurred in 2021, continuing our trend of “always zero” in all the years of collecting and reporting this data. Our ambition is to continue this success into 2022 and beyond. Actively working alongside peers and industry organisations through a range of initiatives remains central to our corporate strategy. We collaborate and participate in the UK Chamber of Shipping’s HSE, Safety Culture and Carbon working groups, ISWAN, HiLo Risk Management, Partners in Maritime Safety, The Sailors Society, Intertanko Human Element Committee and the Global Maritime Forum – Getting to Zero Coalition. These efforts play a key role in the review and subsequent updates to our governance practices. As part of the governance structure of the company, the Remuneration Committee of the Board meets regularly to review and discuss the company’s compensation and benefits strategy. The Committee ensures that decisions taken are reflective of the approach to remuneration within the wider Group. Linking ESG factors to executive pay is one of the ways we ensure these considerations remain at the core of our business decision making. The company operates a pay for performance system where performance against individual and business unit or function targets and objectives are assessed as part of decision making with respect to any base salary or bonus awards. Where ESG initiatives are contained within individual personal objectives, this would have a bearing on potential remuneration decisions. All members of the Group Executive Team have an objective related to leadership and support of HSSEQ initiatives and activities across the group. In 2022, V.Group will continue its efforts to optimise both transparency and accountability in our operations to promote fairness, equality and inclusion in our own operations and across the industry.
Key Metric
2021 Data
2020 Data YOY% (+/-)
Number of Employees
2,747
2,696
+1.89%
Board Makeup (M / F%)
100 / 0
100 / 0
0%
Senior Management Makeup (M / F%)
82 / 18
82 / 18
0%
Photo: Rahul Thundiyil, MT FIDA
14 | V.Group
Leadership & Governance | 15
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