V.Group attaches great importance to the pursuit of excellence as a corporate citizen in its operations throughout the world and to develop its approach to Corporate Social Responsibility (CSR). The Group believes that to achieve this, we must work in partnership with our employees, stakeholders, customers, suppliers and local communities.
The Board of Directors embraces wholeheartedly its commitment to best-practice corporate governance and social responsibility. We aim to ensure our businesses meet and where possible exceed ethical and legal expectations and aim for continuous improvement. Most important is to build trust among stakeholders and between the Group and the countries in which it operates.
Our approach to Corporate Social Responsibility (CSR) encompasses many initiatives and is based on a commitment to maintain high standards in everything we do. We are mindful of the ever increasing risks we face and the need to invest in improving the capabilities of our employees ashore and afloat as well as in the management systems they deploy. Our belief is that we must continue to work hard to embed a culture which believes in doing what is right for our clients and the wider communities we serve, the environment and for our team members. In other words, there is always room for improvement.
Our reputation to date has been built on a strong foundation of honesty and transparency – in our day to day business affairs and when we must deal with incidents involving serious threats to people, property and the environment. We are committed to protecting our reputation and that of our partners in the years to come.
Our policy is that gifts or hospitality are not to be accepted or offered, regardless of their value, in circumstances which could be construed as influencing decision making in any way because in many countries they might be viewed as bribes. Employees are prohibited from receiving, directly or indirectly, anything of a significant value in connection with any transaction entered into by the Company, other than salary, wages or ordinary compensation. Equally the offering of anything of significant value in connection with any transaction entered into by the Company is prohibited.
As an organisation our Shared Values and our five principles of Ethical Business Conduct accord fully with our approach to CSR. Our principles of ethical business conduct are:
- Accountability – we are personally answerable for our own conduct and actions.
- Honesty – we always tell the truth, whatever the circumstances
- Integrity – when we say that we will do something, we do it.
- Openness – when questions are asked we are frank and straightforward in our answers.
- Respect – we value each individual we meet and treat them with dignity and thoughtfulness.
The 2015 UK Modern Slavery Act is intended to tackle modern forms of slavery, ranging from abusive working and living conditions, to withholding of wages or passports, to use of human trafficking and child labour.
The Act applies to UK incorporated entities and foreign entities, conducting business in the UK, that have an annual turnover of £36m or more. These entities must produce an annual online Statement describing policies, and measures taken to mitigate slavery risks during the reporting year.
Within V.Group, we have identified relevant legal entities, either UK incorporated entities or foreign entities with relevant presence in the UK, subject to this reporting requirement. We produce one statement, approved and signed by the board, of all relevant legal entities, since V.Group policies and procedures relating to the management of the risk of modern slavery are applied across all businesses.
Please follow the link to view our Modern Slavery Statement.
UK Gender Pay Gap
All UK companies with 250 or more employees are now required to publish their gender pay gap under new legislation that came into force in April 2017. Employers have to publish the gap in pay between men and women on both a median basis (pay per hour based on the person ‘in the middle’ of the distribution of pay) and a mean basis (average hourly salary). In addition, employers are required to disclose the distribution of gender by pay quartile, i.e. splitting the workforce into four groups based on their pay, and showing the proportion of men and women in each group. Employers are also required to disclose percentages of employees receiving bonuses by gender and the gender gap on bonuses.
V.Ships UK Ltd meets the criteria set by legislation and our UK Gender Pay Gap Reporting Statement can be accessed here.