Sustainability

Hafnia believes in the importance of understanding the role we can play in sustainable practices in maritime energy transportation. By having a clear approach and strong management commitment to Sustainability, we are confident that Hafnia can become a better company in a better world.

Corporate governance

Hafnia is committed to upholding the highest corporate governance standards, professionalism and business integrity across all activities. To achieve that, the development, implementation and maintenance of well-functioning governance policies and practices are critical.

Hafnia’s governance policies and practices are created to comply with applicable laws and ethical standards while being mindful to the Company’s long-term performance and financial soundness.

The policies abide to the overall principles of uprightness and fairness in accordance with leading market practices, while aligning with the interests of the Board of Directors and management, and balancing the reasonable expectations of shareholders, employees, customers, suppliers, other contracting parties and the public.

Hafnia’s corporate governance policies are based on the Norwegian Code of Practice for Corporate Governance dated 14 October 2021 issued by the Norwegian Corporate Governance Board (the “Code”). The Code is available at www.nues.no.

Read more about our corporate governance here.

Business ethics

 

In Hafnia, we define contractors as individuals with a predetermined contract period, which is the case for our crew and temporary staff. All our employees and contractors are subject to our policies and standards.

We define suppliers as companies with whom we have a contract with. Our suppliers are subject to our Supplier Code of Conduct.

Anti-corruption and anti-bribery

Hafnia stands against corruption and bribery in the maritime industry and has a policy of zero tolerance to corruption and bribery. For the prevention hereof, Hafnia has implemented and enforces procedures and policies and all employees must undergo training for this purpose.

Read more about our anti-corruption and anti-bribery commitment here.

 

Whistleblowing

One of the many ways Hafnia seeks to uphold human rights and stop corruption and bribery is through our whistleblowing policy.

Whistleblowing protects us all. It is a vital tool in identifying and reducing illegal and other unethical practices and ensuring Hafnia and our staff maintain the highest standards. We are proud of our robust whistleblowing policy – just one of the procedures we have put in place to protect our reputation as a reliable, ethical company.

Reporting may be done through internal channels or through the independent party engaged by Hafnia for external whistleblowing services and will result in approved, structured investigation procedures. Anyone identifying legitimate concerns can keep their anonymity and will be protected from reprisals or victimisation. Personal data and any other information provided will be kept confidential and used solely for investigation of the matter.

Our whistle-blowing platform can be found here.


Code of Conduct

Hafnia’s employees must at all times adhere to high standards of behavior. The responsibilities and conduct standards are set out in our policies, which include, but are not limited to non-harassment, anti-corruption and anti-bribery and whistleblowing. Hafnia’s policies for conduct has been a particular focus in 2021 and we update our employee policies on a continuous basis.

 

Supplier Code of Conduct

Hafnia’s purpose is Putting people and relationships first and challenging the industry of today, to deliver the industry of tomorrow. As part of this purpose, we are committed to working with and supporting our suppliers, subcontractors, agents or other third parties (Suppliers) to maintain a resilient and sustainable supply chain in the maritime industry.

This Supplier Code of Conduct reflects our minimum standards for Suppliers with respects to (i) Human Rights & Employment Practices, (ii) Health, Safety, Environment & Quality, and (iii) Business Conduct & Ethics. It is based on the United Nations Global Compact’s Principles and we expect Suppliers to make efforts to operate by the United Nations Guiding Principles on Business and Human Rights.

Our Supplier Code of Conduct can be read here.


Anti-competitive behavior

Hafnia conducts regular assessments of its business to ensure compliance with applicable competition laws taking into account the market position and size of the fleet and the various jurisdictions in which the vessels operate, in particular in relation to the vessels operating in the pools and joint ventures. Further, Hafnia has a focus on preventing anti-competitive behaviour within all areas of the business and the focus for 2022 is to implement a competition compliance programme applicable to all employees


Remuneration Committee

The Board has adopted guidelines and principles for determining the remuneration of executive personnel, which have been presented to the shareholders and will be communicated to the annual general meeting. The guidelines are clear and understandable, and contribute to the Company’s business strategy, long term interests and financial sustainability. Such guidelines are not a requirement under Bermuda law and will therefore not be subject to the annual general meeting’s approval. The Remuneration Committee administers all the performance-related elements of remuneration of executive management. The remuneration annually prepares recommendations to the Board, considering inter alia responsibility, expertise, time commitment and the complexity of the Company’s activities. The remuneration paid to executive management will aim to ensure a convergence of the financial interests of the shareholders and executive management. The Company has inter alia adopted a long-term share incentive program for executive management and is made easily understandable designed to align the interests of executive management with those of shareholders and link rewards to corporate and individual performance. Performance-related remuneration is not subject to an absolute limit.

To read more about our remuneration, please click here.

 

ESG in our Performance Culture

Safety and sustainability have long been embedded into our performance culture. We measure individual performance in a holistic way across two dimensions: business delivery through KPIs and how we deliver through behaviour.

Our CEO and CFO have ESG related KPIs that are assessed on a bi-yearly basis and we also assess their ability to be role model and drive the ESG agenda.

Being a responsible market leader in Environmental, Social & Governance (ESG) performance is one of their key KPIs consisting of the below:

    • Targets for safety statistics developed for 2022 internal fleet
    • Fuel reduction for 2022 compared to 2021
    • CO2 emissions of our fleet compared to IMO targets
    • Strong ESG reporting structure and profile in place in our annual reports

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