ESG REPORT 2020

TORM  ESG REPORT 2020 
INTRODUCTION TO OUR ESG REPORT 
2 
   
INTRODUCTION TO OUR ESG REPORT 
LONG TRACK RECORD 
 SINCE 1889 
TORM has been sailing the world’s oceans 
since 1889 and has a long proud history. 
Today, TORM is one of the world’s largest 
owners and operators of tankers transporting 
refined oil products. 
In 2009, TORM signed the UN Global Compact as the 
first shipping company in Denmark to commit to the 
internationally recognized set of principles regarding 
health, safety, labor rights, environmental protection, 
and anti-corruption. 
Ever since, we have reported the progress and results 
of our work, which is an integral part of who we are 
and how we operate every day.  
To provide investors and stakeholders with easy 
access to data specifically within environment, social 
and governance aspects, we share our data and 
targets in this ESG report. 
Our ESG report is a supplement to the Company’s 
CSR report and Annual Report, where you can find 
more detailed information. 
OUR  
COMMITMENT 
This ESG report documents the results of our 
efforts within environmental, social and 
governance aspects, our commitment to the 
UN Sustainable Development Goals and our 
targets for 2030 and onwards. 
We stand committed to and support these areas as 
follows: 
Environmental 
• 
Our ambitious target to reduce our carbon 
footprint by 40% by 2030 
• 
Our commitment to the UN SDG 13: Climate 
Action 
Social 
• 
Our support to and active adoption of the UN 
SDG 4 Quality Education and our support of 
scholars in India and the Philippines 
Governance 
• 
Our commitment to be transparent and account 
for how we operate our business

TORM  ESG REPORT 2020 
TORM’S ESG TARGETS 
3 
  
* 
Unit of measure: CO2 g / dwt nm. 
** Accidents per one million exposure hours. 
*** % of women in leadership positions onshore compared to all leadership positions. 
 
TORM’S ESG TARGETS  
2030 CLIMATE TARGET (FLEET AER*) 
2050 CLIMATE AMBITION 
 
 
 
TORM is pursuing an ambitious climate agenda, whereby we will 
have zero CO2 emissions from operating our fleet by 2050. 
2030 SAFETY TARGET (LTAF**) 
2030 LEADERSHIP DIVERSITY TARGET  
(PERCENTAGE OF FEMALE LEADERS***) 
 
 
 
 
 
6.74
5.24
4.04
2008
2020
2030 target
-40%
-22%
0.65
0.30
2020
2030 target
-54%
21
35
2020
2030 target
+67%

TORM  ESG REPORT 2020 
ENVIRONMENTAL POLICY 
4 
 
The following policy on TORM’s environmental compliance 
supports and underlines “TORM’s Business Principles” which can 
be found on www.torm.com, and which all employees are required 
to accept and comply with as part of their employment terms:  
 
We protect the environment by exercising constant care in our operations, and we 
operate our vessels in accordance with all applicable laws and regulations.  
 
We are committed to continually improving our environmental performance beyond 
compliance with legislation.  
 
It is a fundamental part of TORM’s Business Principles that all Directors, other 
Officers and employees must comply with all applicable rules and regulations in 
relation to environmental protection.  
 
Any Director, other officer or employee who fails to take proper care to comply with 
applicable rules and regulations will be subject to disciplinary action.  
 
TORM's policy is to keep all Directors, other Officers and employees fully informed 
of the contents of applicable environmental law and to assist them in ensuring 
compliance. The compliance system is intended to enable TORM to act in all 
relevant markets without being exposed to business interruption or losses as a 
result of legal investigations or litigation which could affect TORM negatively.  
 
Violation of environmental law is punishable for individuals by imprisonment and 
fines. If TORM is found to have taken part in any such violations, we could face 
severe fines, be excluded from pursuing business opportunities and face damage to 
our reputation. 
Biodiversity 
TORM has pursued a “Zero oil spill to sea” policy for several years and takes 
responsibility for protecting the ecosystem. IMO plays an important role in global 
efforts to protect biodiversity in and around the world’s oceans. 
As a company, we have our ships registered in IMO member states and, accordingly, 
are part of the efforts to protect biodiversity. 
 
ENVIRONMENTAL MANAGEMENT SYSTEM (ISO 14001:2015) 
TORM is committed to ensuring the highest possible environmental performance, 
which includes maximizing our energy efficiency performance, and applying a full-
life cycle perspective in our operations. This is a fundamental part of living up to our 
ISO 14001:2015 accreditation. 
 
 
 
 
ENVIRONMENTAL POLICY

TORM  ESG REPORT 2020 
ENVIRONMENTAL POLICY 
5 
 
OUR ACTIONS TOWARDS 2030 AND BEYOND 
TORM strives to utilize its market position and strength to lead the product tanker 
industry into a more environmentally friendly future and to develop innovative 
solutions for a greener future, and TORM has reduced its CO2 impact by 22% since 
2008. 
 
It is a key priority for TORM to contribute to combating the accelerating global 
climate change and to minimizing pollution of the seas and the atmosphere. Thus, 
TORM has a strong focus on improving energy efficiency and reducing CO2 
emissions. This is achieved through a committed focus on optimal performance, and 
industry collaboration. 
 
Towards 2030, TORM will consequently pursue further initiatives to reduce CO2 
emissions and strive to offer solutions to its customers that make a positive 
contribution to the climate challenge. To reach the CO2 target set for 2030, 
optimization and improvement of the existing fleet are paramount, and TORM  
applies a broad set of actions to enhance the fuel efficiency of its fleet. This includes 
both operational and technical improvements. TORM is also engaged in developing 
the next generation ship design and new energy improving technologies with 
selected partners. 
 
On a longer-term outlook and to meet our ambition for 2050, TORM believes that 
new alternative fuels in shipping will be required on a global scale. TORM will seek to 
influence this development and pursue broad industry cooperation on this 
important journey. These new technologies are still in the development stage and 
what will be the technology of the future is so far associated with great uncertainty. 
 
Our ESG report is a supplement to TORM’s CSR report and Annual Report, where 
you can find more detailed information. 
 
 
ENVIRONMENTAL TARGETS 
TORM has two clearly defined targets for our environmental efforts. 
 
2030 CO2 emissions 
To further highlight TORM’s emphasis on emissions, TORM has set a CO2 emissions 
target of 4.04 using the AER methodology. This represent a 40% reduction in CO2 
emission levels since 2008. 
 
2050 CO2 emissions 
TORM is pursuing an ambitious climate agenda, whereby we will have zero CO2 
emissions from operating our fleet by 2050. 
 
SENIOR MANAGEMENT REMUNERATION LINKED TO CLIMATE AND SAFETY 
PERFORMANCE 
The members of TORM’s Senior Management Team have a significant portion of 
their total potential yearly bonus payment linked to the TORM’s year-on-year CO2 
emission reductions. The reduction target is determined based on a trajectory 
towards TORM’s 2030 CO2 reduction target. Further, the Senior Management Team 
is measured on the TORM’s safety performance to highlight the importance of 
TORM’s climate and safety efforts on an annual basis towards 2030. 
ENVIRONMENTAL TARGETS

TORM  ESG REPORT 2020 
ENVIRONMENTAL INDICATORS 
6 
 
Indicator 
Unit 
2020 
2019 
2018 
  
  
  
  
  
Greenhouse gas (GHG) emissions 
   
   
   
   
Direct GHG emissions (scope 1) 
 Ton CO2  
  1,335,896  
  1,302,390  
  1,374,835  
Indirect GHG emissions (scope 2) 
 Ton CO2  
 434  
 488  
 525  
Total GHG emissions 
 Ton CO2  
  1,336,330  
  1,302,878  
  1,375,360  
Sulfur emissions 
   
   
   
   
SOx emissions  
 Ton  
 1,760  
18,112  
 18,367  
Energy consumption 
   
   
   
   
Heavy fuel 
 Ton  
 170,907  
349,056  
 375,196  
Low-sulfur heavy fuel 
 Ton  
 174,836  
  12,174  
  152  
Marine Gas Oil 
 Ton  
80,865  
 55,371  
64,255  
Total energy consumption of vessels 
 TJ  
 17,665  
  16,921  
 17,747  
Office consumption 
   
   
   
   
Electricity consumption 
 kWh  
445,093  
702,850  
823,844  
Water consumption 
 M3  
3,268  
 -  
 -  
Uncontained spills 
   
   
   
   
Number of uncontained spills (>1 barrel) 
 Number  
 2  
0 
  1  
Total volume of uncontained spills  
 Liters  
2,400  
0 
 15,000  
Ballast water 
   
   
   
   
% of fleet with Ballast Water Treatment Systems  
 %  
65 
33 
16 
 
 
 
ENVIRONMENTAL INDICATORS

TORM  ESG REPORT 2020 
ENVIRONMENTAL INDICATORS 
7 
 
Indicator 
Unit 
2020 
2019 
2018 
  
  
  
  
  
Greenhouse gas (GHG) emissions  
   
   
   
   
  
  
  
  
  
CO2 emissions, AER – Total fleet 
 g/dwtxnm  
5.24 
5.13 
5.42 
CO2 emissions, AER – LR2 
 g/dwtxnm  
4.06  
3.73  
4.03  
CO2 emissions, AER – LR1 
 g/dwtxnm  
4.65  
4.69  
4.88  
CO2 emissions, AER – MR 
 g/dwtxnm  
5.87  
5.96  
 6.16  
CO2 emissions, AER – Handy 
 g/dwtxnm  
5.72  
6.24  
6.66  
  
  
  
  
  
CO2 emissions, EEOI – Total fleet 
 g/cargoxnm  
11.18 
11.31 
12.28 
CO2 emissions, EEOI – LR2 
 g/cargoxnm  
8.07  
8.58  
 9.41  
CO2 emissions, EEOI – LR1 
 g/cargoxnm  
9.45  
9.03  
9.58  
CO2 emissions, EEOI – MR 
 g/cargoxnm  
 13.07  
  13.17  
  14.10  
CO2 emissions, EEOI – Handy 
 g/cargoxnm  
 15.72  
 15.60  
  16.81  
 
 
 
The emission figures in this report represent TORM’s findings to the best of our knowledge given today’s methodology used by TORM, while we await a shared methodology 
developed by IMO. TORM is continuously committed to improving the methodology and advancing transparency in reporting as well as to following industry best practices 
on emissions reporting. 
ENVIRONMENTAL INDICATORS

TORM  ESG REPORT 2020 
ENVIRONMENTAL DEFINITIONS 
8 
CO2 emissions (ton) 
The 2020 greenhouse gas emissions (GHG) reporting covers scope 1 (direct 
emissions from own production), and scope 2 (emissions from own production but 
others’ emissions) of the Greenhouse Gas Protocol except for the activities listed 
below. 
 
Environmental data applies to owned vessels with their respective shares of 
ownership. Bareboat-in vessels are included while T/C-in vessels are excluded. 
Similarly, vessels on bareboat out contracts are excluded while vessels on all other 
employments are included.  
 
Scope 1 
Co2 emissions have been calculated based on the consumption of heavy fuel oil and 
marine gas oil according on IMO’s conversion factor for emission per ton. Emissions 
are calculated for each single vessel and then consolidated. The numbers under the 
scope 1 data sheet have been collected on board the vessels or at the offices. The 
collection is based on actual usage or disposals. 
 
Scope 2 
CO2 emissions generated indirectly from operational activities at the TORM offices 
are calculated using Danish and World Resources Institute’s emission factors. Only 
offices where data is available are included. 
 
 
AER (g/dwtxnm) 
AER is a measure of efficiency using the total fuel consumption, distance travelled 
and design deadweight. The measure is defined as grams CO2 emissions per 
deadweight-ton-nautical mile. AER is affected by vessel size, speed, duration of 
waiting time and port stays. 
 
Ballast Water Treatment Systems 
Percentage of the TORM fleet with installed Ballast Water Treatment Systems. 
EEOI (g/cargoxnm) 
EEOI is a measure of efficiency using the total fuel consumption, distance travelled 
and cargo intake. The measure is defined as grams CO2 emissions per cargo-ton-
nautical mile. EEOI is affected by vessel size, speed, cargo availability, duration of 
ballast voyages, waiting time and port stays. 
 
SOX emissions (ton) 
SOx emissions are calculated based on average sulfur content for the different fuel 
types.  
 
A comprehensive study for TORM by an independent specialist which compared the 
emissions from vessels fitted with exhaust gas cleaning systems (scrubbers) to 
emissions from vessels using low-sulfur fuel found that the sulfur emissions are 
reduced to an average of just 0.025% when using the exhaust gas cleaning system 
compared to 0.45% when using low sulfur fuel. 
 
Energy consumption (TJ) 
All fuel burned on board the vessels has been converted into energy based on fuel 
oil analysis results. 
 
Office electricity consumption (kWh) 
Electricity consumed indirectly in operational activities at the TORM offices 
excluding the London and Houston offices. 
 
Office water consumption (m3) 
Water consumed indirectly in operating activities at the TORM offices excluding the 
London, Houston, Mumbai and New Delhi offices. Data is not available for 2019 and 
2018.  
 
Spills (> 1 barrel) 
Includes incidents of oil spills larger than 1 barrel into the sea from vessels under 
TORM’s technical management.  
ENVIRONMENTAL DEFINITIONS

TORM  ESG REPORT 2020 
SOCIAL PRINCIPLES 
9 
  
The following principles on social compliance by TORM support 
and underline “TORM’s Business Principles”, which can be found 
on www.torm.com. 
 
 
We respect the values and cultures of our employees and business partners. We do 
not accept discrimination with respect to gender, ethnicity, religion, sexual 
orientation, handicap or age. We work towards a diverse workplace in which 
everyone is included and respected and we regard well-being at work as a shared 
responsibility. 
 
We are committed to providing equal employment and career opportunities for 
qualified applicants and employees. 
 
We respect employees’ right to privacy and protect the privacy of employees’ 
personal information. We must ensure that appropriate systems are in place to 
safeguard the access to this type of information. 
 
We respect the right to associate freely, to join – or not join – unions, and to bargain 
collectively, and we encourage a constructive dialogue about working conditions. 
 
TORM is a long-standing supporter of maritime education in Denmark, India, and the 
Philippines. This commitment reflects our ties to local communities, and has a 
positive effect on the needs of the societies in which TORM operates, and where 
many of our seafarers come from. In addition, TORM believes that supporting 
education has positive effects on our core business in terms of developing the 
pipeline of competences in the industry and in terms of higher employee retention 
and positive brand recognition. 
 
Approximately 90% of TORM’s employees work at sea, and providing healthy, safe 
and secure working conditions for them is an essential part of TORM’s business. In 
addition, it is TORM’s belief that a safe and secure working environment supports 
the overall performance level and employee retention. 
 
Respecting employees’ human rights is pivotal to TORM. TORM's policies that 
support this are outlined in TORM’s Business Principles. Our safety policy is rooted 
in the rules and regulations issued by the Danish Maritime Occupational Health 
Service. 
 
Our people constitute the true quality of TORM and are our most valuable assets. 
TORM continues to grow and thrive due to the efforts and dedication of our staff 
both at sea and ashore. TORM works towards a diverse workplace in which 
everyone is included and respected, and in which well-being at work is regarded as 
a shared responsibility. 
 
SAFETY MANAGEMENT SYSTEM (ISM CODE) 
The safety of the crew and the vessels as well as the quality of the products 
delivered by TORM is crucial. TORM is committed to continuously improving our 
people, systems and skills in a proactive approach, ensuring that all employees at 
TORM are committed to the safety and quality of every task. 
 
SOCIAL TARGETS 
TORM has two clearly defined targets for our social efforts. 
 
Leadership diversity 
To further highlight TORM’s emphasis on diversity, TORM has developed a 2030 
target for women in leadership positions. TORM aims at a gender-diverse workforce 
and an inclusive environment that respects and supports all our people and helps 
improve our business performance. The target is to have 35% female leaders 
onshore by 2030. 
 
Safety (LTAF) 
TORM has a continued focus on safety and to further emphasize this, we have set a 
long-term target of an LTAF of 0.3 by 2030.
SOCIAL PRINCIPLES

TORM  ESG REPORT 2020 
SOCIAL INDICATORS 
10 
 
Indicator 
Unit 
2020 
2019 
2018 
Further information 
  
  
  
  
  
  
Our employees 
  
  
  
  
  
Total number of seafarers 
 Headcount  
3,023  
3,050  
3,206  
   
Total number of employees (shore-based) 
 Headcount  
 345  
  341  
 309  
 AR20  
  
  
  
  
  
  
Diversity – shore-based employees 
  
  
  
  
   
Total women in leadership 
 % (headcount)  
21 
22 
19 
 AR20  
Gender with lowest representation (women) 
 % (headcount)  
36 
35 
32 
 AR20  
Total nationalities 
 Number  
21 
20 
20 
   
  
  
  
  
  
  
Diversity – seafarers 
     
  
  
   
Total women in leadership 
 % (headcount)  
1 
1 
1 
   
Gender with lowest representation (women) 
 % (headcount)  
1 
1 
1 
   
Total nationalities 
 Number  
4 
4 
4 
   
  
  
  
  
  
  
Health & Safety 
   
   
   
   
   
Fatalities 
 Headcount  
0 
0 
0 
   
Lost-time accident frequency (LTAF) 
 Per million exposure hours  
0.65  
0.42  
0.47  
 AR20  
  
  
  
  
  
  
  
  
  
  
  
  
Ethics * 
   
   
   
   
   
Sexual Harassment and/or Non-discrimination Policy 
   
 •  
 •  
 •  
 Business Principles  
Equal and fair opportunity employer 
   
 •  
 •  
 •  
 Business Principles  
Child and/or Forced Labor Policy 
   
 •  
 •  
 •  
 Business Principles  
Child and/or Forced Labor Policy covers suppliers and vendors 
   
 •  
 •  
 •  
 Business Principles  
Human Rights Policy 
   
 •  
 •  
 •  
 Business Principles  
Human Rights Policy covers suppliers and vendors 
   
 •  
 •  
 •  
 Business Principles  
Modern Slavery Policy 
   
 •  
 •  
 •  
 UK Modern Slavery Act  
UN Global Compact Signatory 
   
 •  
 •  
 •  
 CSR  
Recycling and Scrapping Policy 
   
 •  
 •  
 •    
 
*Yes • | No • 
 
SOCIAL INDICATORS

TORM  ESG REPORT 2020 
SOCIAL DEFINITIONS 
11 
 
DEFINITIONS 
Health & Safety 
A fatality is a death resulting directly from a work-related injury regardless of the 
length of time between the injury and death. 
 
Lost Time Accident Frequency (LTAF) is an indicator of serious work-related 
personal injuries that result in more than one day off work per million hours of work. 
The definition of LTAF follows the standard practice among shipping companies. 
 
Recycling & Scrapping 
Safe and environmentally sustainable ship recycling is an integral part of TORM’s 
Business Principles: 
• 
We protect the environment by exercising constant care in our operations 
• 
We are committed to continually improving our environmental performance 
• 
We are committed to providing a safe and secure work environment 
• 
We are committed to promoting responsible business practices in our supply 
chain 
 
SOCIAL DEFINITIONS

TORM  ESG REPORT 2020 
GOVERNANCE POLICY 
12 
TORM PLC – CORPORATE GOVERNANCE PRACTICES RELATED TO THE UK 
CORPORATE GOVERNANCE CODE AS ISSUED BY THE FINANCIAL REPORTING 
COUNCIL IN AUGUST 2018 (THE “CODE”) 
 
TORM plc (the “Company”) has elected to adopt the Code, a copy of which is 
available on www.frc.org.uk.  
 
As a company incorporated in the UK and listed on Nasdaq both in Copenhagen 
and in New York, the Company is required to report on our compliance with the 
Code in accordance with the “comply or explain” principle. The Company’s position 
with respect to compliance (or non-compliance) with the individual 
recommendations of the Code is required to be included in the Directors’ report as 
part of the Company’s Annual Report and Accounts (the “Annual Report”), the 
content of which is summarized in more detail in this Corporate Governance 
Statement. Prior to publication of the 2020 Annual Report, any references to the 
Annual Report should be viewed as a reference to details which will appear in that 
Annual Report. 
 
TORM has a one-tier board governance structure in accordance with UK legislation 
and is governed, subject to our Articles of Association, by the Board of Directors, 
consisting of both Executive and Non-Executive Directors who undertake both the 
management and monitoring functions of the Company (the “Board”). 
 
General practices of the Board of the Company and any Executive Director(s):  
• 
The Directors are entrusted with the overall responsibility for the Company. The 
duties of the Directors include establishing policies for strategy, accounting, 
organization and finance and the appointment of executive officers. The 
primary responsibilities of the Directors are to manage the business and affairs 
of the Company within the limits prescribed by the Company’s Articles of 
Association or by special resolution of the shareholders. The Directors must act 
in what they consider to be the best interests of the Company and consistent 
with their fiduciary duties. 
• 
The Non-Executive Directors of the Board appoint the Executive Director(s) 
and determine the terms and conditions of employment and the duties of the 
Executive Director(s). Together with the other members of the Group’s Senior 
Management (together the “Senior Management”), The Executive Director(s) 
is/are responsible for the day-to-day management of the Company, including 
the Company’s operational development, results and internal development, and 
for implementing the strategies and overall decisions approved by the Board. 
• 
The Board has established an Audit Committee, a Remuneration Committee, a 
Nomination Committee, and a Risk Committee. The Terms of Reference for each 
of these committees are available on the Company’s website (www.torm.com). 
 
This Corporate Governance Statement provides a detailed account of how the 
Company has applied the principles of and how it complies with the provisions of 
the Code. It sets out the Company’s approach to governance and supplements the 
information given in the Company’s Annual Report, as approved by the Board. 
 
GOVERNANCE POLICY

TORM  ESG REPORT 2020 
GOVERNANCE POLICY 
13 
 
The Board: Chaired by Christopher Boehringer 
The Board of Directors holds six prescheduled meetings on an annual basis, but usually holds several ad hoc meetings. 
The duties of the Directors include establishing policies for strategy, accounting, organization, finance and the appointment of executive officers. The Board of Directors governs the Company in 
accordance with the limits prescribed by the Articles of Association or by any special resolution of the shareholders. 
 
Chairman 
Leads the Board, sets the agenda 
and promotes a culture of open 
debate between Executive and 
Non-Executive Directors. 
Regularly meets with the Chief 
Executive Officer, the other 
Executive Directors and other 
senior management members to 
stay informed. 
 
Senior Independent Director 
Ensures that the views of each 
Non-Executive Director are given 
due consideration.  
Available to both Non-Executive 
Directors and shareholders if they 
have concerns.  
On an annual basis, meets with 
each Non-Executive Director to 
appraise the performance of the 
Chair. 
Non-Executive Directors 
Committed to contribute, 
constructively challenge and help 
develop proposals on strategy.  
 
 
Executive Directors 
Responsible for the day-to-day 
management of the Company,  
Responsible for the Company’s 
operational development, results 
and internal development. 
Implement the strategies and 
overall decisions approved by the 
Board. 
 
Board Observers 
Three types. Employee-elected, 
providing a communication 
platform between the employees 
and the Board. Minority Board 
Observer appointed by the B 
Shareholder and Board Member 
elected. All observers are entitled to 
attend and speak at Board 
meetings. 
 
Audit Committee  
Chaired by Göran Trapp 
Meets a minimum of four times a year. 
Assists the Board of Directors in fulfilling its 
responsibilities relating to the oversight of 
the quality and integrity of the accounting, 
auditing, financial reporting and risk 
management of the Company. 
 
 
Risk Committee  
Chaired by Göran Trapp 
Meets a minimum of three times a year. 
Responsible for supervisory oversight and 
monitors responsibilities with respect to 
internal controls and risk management. 
Nomination Committee  
Chaired by Christopher Boehringer 
Meets a minimum of two times a year. 
Reviews the structure, size and composition 
(including skills, knowledge, experience and 
diversity) of the Board of Directors and 
makes recommendations to the Board of 
Directors with regard to any changes. 
Considers succession planning for Directors 
and the Chief Executive Officer and others. 
Remuneration Committee  
Chaired by Christopher Boehringer 
Meets a minimum of two times a year. 
Assists the Board of Directors in reviewing 
Management’s performance and 
remuneration as well as the Company’s 
general remuneration policies. 
Senior Management Team 
Consists of the following employees of TORM A/S (in addition to the Executive Director, Mr. Jacob Meldgaard): Mr. Kim Balle (Chief Financial Officer - CFO), Mr. Lars Christensen (Senior Vice 
President and Head of Projects) and Mr. Jesper S. Jensen (Senior Vice President and Head of Technical Division). The Senior Management Team holds weekly meetings. Assists the Executive 
Director in the day-to-day management of the business. 
 
 
GOVERNANCE STRUCTURE

TORM  ESG REPORT 2020 
GOVERNANCE INDICATORS 
14 
 
Indicator 
Unit 
2020 
2019 
2018 
Further information 
  
  
  
  
  
  
Board of Directors 
   
   
   
   
   
Members 
 Number  
 5  
 5  
 5  
 AR 20  
Gender with lowest representation (women) 
 %  
20 
0 
0 
 AR 20  
Total nationalities 
 Number  
 5  
 4  
 4  
 AR 20  
Independence 
 %  
80 
80 
80 
 AR 20  
  
  
  
  
  
  
Senior Management 
   
   
   
   
   
Members 
 Number  
 4  
 4  
 4  
 AR 20  
Gender with lowest representation (women) 
 %  
0 
0 
0 
 AR 20  
Total nationalities 
 Number  
  1  
  1  
  1  
 AR 20  
  
  
  
  
  
  
Ethics * 
  
  
  
  
  
Anti-corruption Policy 
   
 •  
 •  
 •  
 Business Principles  
Anti-bribery Policy 
   
 •  
 •  
 •  
 Business Principles  
Whistleblower Policy 
   
 •  
 •  
 •  
 AR 20  
Articles of Association  
   
 •  
 •  
 •  
   
Code of Conduct Policy (Business Principles)  
   
 •  
 •  
 •  
 Business Principles  
  
*Yes • | No • 
 
GOVERNANCE INDICATORS