Responsible governance, sustainable growth

Sustainability is governed at the highest levels of Odfjell and embedded across the organization.

The Board of Directors holds ultimate oversight responsibility. It approves major sustainability and climate strategies, reviews performance and risks, and ensures transparent reporting. The Audit Committee supports the Board by advising on sustainability and ESG reporting.

The CEO is accountable for ensuring that Odfjell’s sustainability goals are effectively managed, monitored and integrated into the company’s strategy and culture.

The Chief Sustainability Officer (CSO), a member of the executive management team, leads the day-to-day sustainability agenda and regularly updates the Board and Audit Committee on performance, regulatory developments, reporting and training. Working closely with the Chief Financial Officer, the CSO shares responsibility for ESG reporting and leads Odfjell’s double materiality assessment and the management of sustainability-related impacts, risks and opportunities.

This governance structure ensures clear accountability while making sustainability a shared responsibility across Odfjell.

Odfjell is committed to conducting business ethically, complying with applicable laws and upholding internationally recognized principles, including the UN Global Compact and the UN Guiding Principles on Business and Human Rights.

Ethics and compliance are embedded throughout our corporate framework. Our Chief Compliance Officer, supported by a network of compliance officers across business units and regions, oversees compliance with applicable laws, our Code of Conduct and requirements in key areas such as competition law, environmental permits and anti-corruption.

The Designated Person Ashore (DPA) helps ensure that our ship operations comply with the International Safety Management (ISM) Code. Regular training and regulatory updates support consistently high standards across the organization.

We also conduct due diligence on suppliers, provide compliance training and maintain a whistleblowing system through which employees and third parties can report concerns confidentially.

We manage supplier relationships through our corporate supplier conduct principles, which set expectations for ethical business practices, human rights, labor standards, environmental responsibility, and anti-corruption.

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. Suppliers are required to comply with these principles through contractual commitments, due diligence processes, and monitoring.

Through regular communication, training, and performance reviews, we work to build responsible, transparent, and long-term supplier partnerships.

To promote an ethical culture across our supply chain, Odfjell requires all suppliers to adhere to our Corporate Supplier Conduct Principles (CSCP), which cover fair labor practices, human rights, environmental responsibility, and anti-corruption.

We have memberships to both the marine purchasing organization Incentra SA and the international Achilles Maritime Network.

Our ship recycling approach supports circular economy principles while ensuring responsible end-of-life management of our vessels.

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 our recycling partners, monitor the recycling process, and require strict standards for worker safety, hazardous-material handling, and environmental protection. By applying these measures, we ensure that the end-of-life phase of our vessels supports circular-economy principles, recovers valuable materials, and safeguards the welfare of the workers involved.