Governance

Spotlight: Creating a Responsible Supply Chain

We work together with our suppliers to improve sustainability practices, and offer clear and transparent procurement practices.


Doing good while doing well

We conduct our business with high ethical standards and in compliance with relevant laws, and we ask for the same standards from our business partners.

Beyond compliance, we ensure strict internal governance in our business practices. We follow established gatekeeping procedures when we debate strategic business decisions. We have clear and transparent procurement practices. And we enforce and audit operational policies at sea and on shore.

Why? Because it is the right thing to do. Because only with good governance, can we be a force for good.

Doing the right thing

G for Governance, G for Good

Our governance priorities

Our Sustainability PrioritiesWhat this meansUNSDGRead more
Governance and ComplianceConduct our business ethically and responsibly in full compliance with all laws and
regulations
UNSDG Goal 16 Peace Justice and Strong InstitutionsTransparency & Governance
Operational Excellence and Effective ManagementOptimise business processes through innovation and quality managementUNSDG Goal 16 Peace Justice and Strong InstitutionsOperational Excellence & Effective Management
Anti-Bribery and Anti-CorruptionUphold business integrity and stand against bribery
and corruption in the maritime industry
UNSDG Goal 16 Peace Justice and Strong InstitutionsAnti-Bribery & Anti-Corruption
Economic Performance and BenefitsGenerate sustainable economic value for our stakeholdersUNSDG Goal 8 Decent work and economic growthOperational Excellence & Effective Management

Read more

An effective and impartial Board

BW LPG has a well-developed corporate governance structure, and a highly experienced Board of Directors.

We have 80% Board independence and 100% Audit Committee independence.

The Executive Management team consists of four members who work together as a team to exercise proper supervision on the management of the Company. The Executive Management is independent of the Board of Directors, and remuneration of the Executive Management is based upon the Guidelines for Executive Management. Remuneration of the Executive Management is reviewed annually and approved by the Board based on recommendations by the Remuneration Committee.

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 our Executive Management and shareholders. Sustainability performance objectives are integrated into the variable remuneration of the Executive Management.

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. 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.

BW LPG provides a quarterly update on compliance and litigation to our Board to ensure prompt and transparent communication, and fair resolution of any concern.

Code of Ethics and Business Conduct at BW LPG
Code of Ethics and Business Conduct at BW LPG