Our Commitment: We believe the only way to do business is ethically and transparently. Our reputation is built on the strength of our relationships, which are founded on trust, respect, and openness. We simply do not tolerate discrimination, corruption, or unethical behaviour, in any form. Petredec Group’s Board of Directors is collectively responsible for the long-term success of the Company and for leading and controlling the Group. It has overall authority for the management and conduct of the Group’s business, strategy and development.
Risk Management
The nature of Petredec Group’s business requires a robust risk management strategy and framework across its financial, operational and compliance activities. The parameters within this framework measure the following:
- financial risks {trading restrictions and losses, cashflow and payment terms}
- operational risks {fleet management of its shipping cargoes, health and safety}
- environmental risks {GHG emission levels, wastage and spillage}
The company provides daily, standardised reporting to management and the Risk Department which is monitored live on its risk management analytics tool and provides extensive oversight.
Petredec Group is one of 850 organisations that have signed the Neptune Declaration on Seafarer Wellbeing and Crew Change. This gives seafarers priority access to Covid-19 vaccines, standard health protocols and improves collaboration between ship operators and charterers to facilitate crew changes.
Environmental Compliance
As part of its environmental obligations, Petredec Group is a Signatory to the Poseidon Principles, a global framework for assessing and disclosing the climate alignment of ship finance portfolios by reference to the International Maritime Organization (IMO)’s greenhouse gas emissions targets.
All Signatories are required to document the status and progress of its ships’ and fleets’ GHG emission performance towards meeting the IMO emissions targets.
The Poseidon Principles are consistent with the policies and ambitions of the IMO, including its ambition for greenhouse gas emissions to peak as soon as possible and to reduce shipping’s total annual GHG emissions by at least 50% by 2050.
Our Sustainability Policies centre around our environmental commitments to safeguarding the Planet, our commitment to our People to provide a safe, healthy and responsible workplace, all conducted under a corporate governance framework based on transparent and rigorous Processes.
