It is essential that the Company values and maintains the trust with coworkers, customers, and suppliers. The Company strives to ensure an open and transparent relationship between the Company’s management, Board of Directors, shareholders, and other stakeholders. 

“74% of the employees have undergone training and affirmed compliance with the Code of Conduct”

Eimskip is committed to combating corruption and bribery. The Company’s management and employees strive to always comply with applicable laws and regulations. The Company has rules and general standards of business ethics and corporate governance to avoid conflict of interest and maintain confidentiality. The Company’s internal control and risk management are intended to spot abnormalities, including the risk of corruption and bribery. Eimskip’s policy on Anti-corruption and bribery is integrated in the Company’s Code of Conduct, www.eimskip.com.

The Code of Conduct underwent a thorough review in 2023 and was reintroduced to all employees. 74% of the employees have undergone training and affirmed compliance with the Code of Conduct. The Company’s Code of Conduct is available in four languages: Icelandic, English, Danish, and Swedish.  

Eimskip has a speak-up program in place, e.g. through the Whistleblower Procedure. The speak-up program encourages transparency and accountability and aims to investigate all reports of alleged misconduct and protect the anonymity of the whistleblowers. Furthermore, Eimskip’s Anti-Money Laundering and Sanction Policy prohibits anyone employed by Eimskip from participating in money laundering, terrorist financing, and sanction breaches.  

The Company conducted the yearly training regarding competition law. All employees globally with direct contact with customers and suppliers must complete the training. The training is also available through the Eimskip digital learning platform.

Good partnerships with suppliers are beneficial, and risk management of the value chain is essential. The Company reviewed and updated the Supplier Code of Conduct and Procurement Policy in 2023. The Company has designed a self-assessment tool based on the Ten Principles of the UN Global Compact, with a focus on e.g. Health and Safety, Human Rights, Labor, Business Ethics, and the Environment.

Suppliers with 80% spend globally received the Company’s Supplier Code of Conduct and a self-assessment based on the Ten Principles of the UN Global Compact. Furthermore, the largest suppliers in Norway have gone through the same process due to confirmation of the Norwegian Transparency Act for Human Rights. 39% of the target group, with 80% of the Company’s spend, has complied with the Supplier Code of Conduct and confirmed supplier self-assessment.

Eimskip has taken significant steps to identify risks in the value chain by putting forward a policy, identifying a target group, and beginning the evaluation of suppliers. In 2024, the work will continue, and more focus will be put on identifying, assessing, monitoring, and mitigating potential risks.

Eimskip is committed to legally, fairly, and securely processing the personal data of customers, employees, business partners, and other stakeholders. Eimskip strives to comply with applicable data protection laws. All personal data used in business operations must be handled following global privacy and internal policies. The Company has identified suppliers that process data on behalf of Eimskip, and the first group of suppliers has been sent self-assessments. Eimskip has defined Data Security Classification to identify, categorize, and protect content according to its sensitivity or impact level to protect the data from unauthorized disclosure, alteration, or destruction. Eimskip is now working on informing employees of this classification and marking selected content with appropriate classification levels. The focus in ongoing for 2024. 

Eimskip’s ESG statement is published on www.eimskip.com. It is based on the Nasdaq ESG Reporting Guide, focusing on 30 environmental, social, and governance performance indicators. The statement is confirmed each year by Klappir Green Solution hf. Furthermore, the emission from the vessels is confirmed yearly by Verifavia. 

As a part of Eimskip ESG sustainability risk assessment, the Company has identified the SDG (UN Sustainability Goals) that align with the Company’s values and goals. The Company has prioritized the SDG goals where it can have environmental or social impact. The contribution in 2023 is displayed and evaluated each year, and targets are reset. 

Climate change
Eimskip target is to become Net Zero before 2040

Our contributions in 2023 to SDG 13 Climate
Changes in the Eimskip sailing system with the goal of reducing the environmental impact of vessel operation
The vessel hulls for Bruarfoss and Dettifoss were painted with a special paint that reduces the vessel’s resistance while sailing 
Three new electric trucks and one methane truck were delivered. 

Health and safety
Net zero accident policy 

Our contributions in 2023 to SDG 3 Good health and wellbeing and SDG 8 Decent work and economic growth
Ensuring our employee’s health and safety
Annual prevention meetings attended by all employees in the target group
Continue to promote employee’s well-being
The annual safety week was held

Business ethics
100% compliance with the Company’s Code of Conduct

Our contributions in 2023 to 16 Peace, Justice, and strong Institutions
The Code of Conduct underwent a thorough review
74% of employees have undergone training and affirmed their understanding and compliance with the Code of Conduct
Competition law yearly training with target group

Procurement program 
Compliance with the Supplier Code of Conduct and ESG Self-assessment from suppliers with about 80% or the Company’s total spend

Our contributions in 2023 to SDG 8 Decent work and economic growth and 12 Responsible Consumption and Production
39% of target group has confirmed 

Gender equality
Women in management at least 40%

Our contributions in 2023 to SDG 5 Gender Equality
The number of women in management has increased from 31% in 2022 to 33% in 2023
Equal Pay re-certification reevaluated.
Participants in the Leadership program were fully gender balanced