Doing the Right Thing

At BW LPG, we believe that our interests and that of our shareholders are best served by the adoption of business policies and practices which are legal, compliant, ethical, and open in relation to all dealings with customers, potential customers and other third parties. These policies are designed to be fair and in accordance with leading market practices on stakeholder relationships and are also sensitive to reasonable expectations of public interest. 

Our Corporate Governance Report  provides an overall overview of our Corporate Governance practices. We provide a quarterly update on compliance and litigation to our Board to ensure prompt and transparent communication, and fair resolution of any concern. 

Our BW LPG Insider Trading Policy has clear rules and guidelines regarding insider dealings to comply with applicable legislation and to prevent acts or omissions which may undermine the general trust in the Company. BW LPG respects international anti-trust laws and engages in business practices that are fair and transparent. 

We maintain high standards of governance practices to protect the trust placed on us by our stakeholders. This includes annual reviews of relevant legislation, guidelines and best practices to ensure compliance and to update our approach to managing risks. Our governance framework is based on both internal and external frameworks. Our BW LPG Governance policiesapplies to all employees. These policies are supported by our Supplier Code of Conduct, and our Code of Conduct Guide to Procurement Ethics, which are applicable to those who conduct business with us. 

Encouraging Colleagues to Speak Up

At BW LPG, we have a supportive and open culture. Crew and colleagues do not have to worry about reprisals if they report misconduct, challenge current processes or raise critical concerns. We are safe not because we have no incidents. We are safe because we dare to speak up when we are concerned about current work processes.

By flagging concerns for attention, we can positively manage incidents before they become bigger issues. Employees can either approach their Line manager, an HR representative, or their Head of Department. Employees are assured of a fair review and assessment for required corrective action. Depending on the matter, this can be escalated to the highest level of authority for attention.

Leadership

BW LPG is helmed by a group of experienced and diverse Board with complementing expertise who enforce our governance procedures. The ExecutiveLeadership Team is independent of the Board of Directors and commits to beethical and open in all that we do. The Executive Leadership Team implementsthe strategic direction for the Company and supervises the daily running andmanagement. 

Executive Remuneration

Remuneration of the Executive Management is reviewed annually and approved by the Board based on recommendations by the Remuneration Committee and the Guidelines for Executive Remuneration. The Remuneration Committee considers the performance of the Executive Management and gathers information from comparable companies before making its recommendation to the Board. Such recommendation aims to ensure convergence of the financial interests of the Executive Management and our shareholders. Sustainability performance objectives are integrated into the variable remuneration of the Executive Management.