Business Code of Conduct and Ethics
Veson Nautical Business Code of Conduct and Ethics
June 2025
Our Values
Our values are core to who we are and how we do business every day. They guide and motivate each of us as we work with leading organizations across the globe, including our clients, partners, vendors, and colleagues. These principles reflect a way of life here at Veson and are a critical cornerstone of our success.
Do the right thing.
Take pride in your work.
Move forward.
Introduction
Veson is committed to fostering a respectful, inclusive, and professional environment. Our community is built on the principles of mutual respect, collaboration, and shared commitment to excellence. Our behaviors and actions, whether we interact in person, online, or through other mediums, significantly impact the well-being and success of our community members. We are driven by our core values and take ethics, sustainability, compliance, and legal matters seriously.
This Code of Conduct and Ethics applies to all Veson employees and directors, including all subsidiary companies. It serves as a guide to navigate our interactions and activities, promoting integrity, accountability, and ethical behavior. By embracing these standards, we contribute to a culture of respect, trust, and collaboration.
This Code of Conduct and Ethics outlines critical obligations for all of our community members. Together, we can build and maintain a community that supports growth, innovation, and the well-being of all its community members. This Code of Conduct is not just a set of rules but a shared vision of how we aspire to treat one another and the standards to which we hold ourselves. As Veson community members, we collectively commit to these principles to create a positive, ethical, and inclusive environment for all.
Whistleblower Policy
At Veson we are dedicated to maintaining the highest standards of integrity, transparency, and accountability in all our operations. Our commitment to ethical conduct and compliance with applicable laws and regulations is fundamental to our mission and values. To support this commitment, Veson has instituted a Whistleblower Policy. This policy is designed to encourage and protect individuals who report misconduct, illegal activities, disrespectful behavior, or policy violations, including policy violations under this Code of Conduct and Ethics. It provides a safe, confidential channel for employees, contractors, volunteers, and other stakeholders to raise concerns in good faith without fear of retaliation.
Anti Bribery and Corruption Policy
At Veson, we are committed to upholding the highest standards of integrity, transparency, and ethical conduct in all our dealings. Corruption, bribery, and any form of unethical behavior undermine the trust placed in us by our stakeholders, distort markets, and impede sustainable development. Therefore, we have established our Bribery and Anti-Corruption Policy, which outlines our firm stance against these practices and provides a framework for their prevention and detection. In summary, this policy specifically states that members of the Veson community may not directly or indirectly:
- Make, promise, approve, authorize, or offer to give anything of value to anyone (including but not limited to cash payments) for the purpose of improperly inducing the recipient to take (or to refrain from taking) action that would bestow a benefit on Veson or any other party; or
- Receive or accept anything of value (including but not limited to cash payments) if such item is intended to induce or reward improper performance of one’s responsibilities or duties or to gain an improper advantage.
The Veson community is not permitted to offer or accept any gifts or hospitality of value. Small value, customary gifts and hospitality are acceptable. If in doubt, employees are expected to consult with their supervisor or People & Culture Team regarding the appropriateness of a gift or hospitality.
Conflicts of Interest
Employees and directors are required to disclose any actual or potential conflict of interest they may have when dealing in any professional capacity as part of their employment or work with Veson. This includes but is not limited to personal relationships with clients, suppliers and contractors, or service providers. In cases of a conflict of interest, the relevant person must disclose the conflict to People & Culture Team and their manager and remove themselves from any position where that conflict arises.
Fraud and Fair Dealing
Veson strives to be an ethical company and employer. This extends to how we compete with others. We do not condone any fraudulent or otherwise illegal behavior in the pursuit of our goals and clients. We comply with anti-trust and competition law in all jurisdictions in which we operate. Employees who engage in fraudulent or illegal behavior will face disciplinary action, up to and including termination.
Each employee is governed in their work by our procedures and policies. Employees are responsible for ensuring that they follow the instructions given to them by management, particularly in relation to the safekeeping of the assets of Veson. Employees are expected to be aware of the possibility that fraud, corruption, or theft may exist in the workplace.
Employees are encouraged to report any suspected fraudulent or otherwise illegal activity in good faith under the Whistleblower Policy.
Legal Compliance
Compliance Statement and Monitoring
Veson is firmly committed to compliance with all necessary laws and regulations for all its operations. We periodically perform compliance checks to ensure we remain up to date with our obligations. If any rules within this Code of Conduct and Ethics conflict with applicable laws and regulations, employees, and directors are expected to prioritize legal compliance.
Modern Slavery and Human Trafficking (MS/HT) and Supply Chains
Veson complies with its obligations under the UK Modern Slavery Act 2015. To access our Modern Slavery and Human Trafficking Statement visit: https://veson.com/modern-slavery-statement/.
We are dedicated to the monitoring and prevention of modern slavery and human trafficking within our operations and supply chains.
Respectful Workplace Policy
Harassment and Discrimination
Veson is dedicated to fostering a workplace environment where every individual is treated with respect and dignity. Our success as an organization is built on the foundation of mutual respect and collaboration, and we believe that a respectful workplace is essential for the well-being and productivity of all our employees.
Veson has instituted a Respectful Workplace Policy which outlines our commitment to creating and maintaining a positive, inclusive, and supportive work environment. We recognize that workplace conflict or poor working relationships have the potential to escalate into discriminatory behaviors and harassment which may affect workplace and individual well-being. Unlawful discrimination, harassment, retaliation, victimization, and bullying will not be tolerated. We are devoted to ensuring that all employees, regardless of their role, background, or personal characteristics, feel valued and empowered to contribute to their fullest potential. All complaints of negative or inappropriate workplace behaviors will be taken seriously, investigated in accordance with local legislation, and followed through to resolution.
Diversity, Equity, Belonging, and Inclusion (DEBI)
We are unwavering in our commitment to fostering a diverse, equitable, and inclusive environment where every individual feels like they belong and feels valued and empowered to bring their whole selves to work. We believe that our strength lies in the rich tapestry of perspectives, experiences, and backgrounds that our employees bring to the table. Embracing diversity and inclusion is not only a moral imperative but also a strategic advantage that drives innovation, creativity, and success.
We are dedicated to creating a workplace that reflects the diverse communities we serve and where everyone has an equal opportunity to thrive. We are committed to dismantling barriers, challenging biases, and fostering a culture where all voices are heard and respected.
Our approach to DEBI is grounded in the following principles:
- Diversity: We celebrate and value the unique attributes, experiences, and backgrounds of our employees. We are dedicated to building a workforce that reflects the diversity of our global community.
- Equity: We strive to ensure fair treatment, access, and opportunities for all individuals. We are committed to identifying and eliminating systemic inequalities that may exist within our policies, practices, and culture.
- Belonging: We aim to create an environment where everyone feels welcome and a sense of belonging. We believe that when individuals feel they truly belong, they are more engaged, productive, and motivated.
- Inclusion: We actively seek to create a culture where all individuals feel included and respected. We encourage diverse perspectives and foster an environment where everyone can contribute to their fullest potential.
We recognize that achieving these goals requires ongoing effort, reflection, and commitment from all members of our organization. We are dedicated to continuous learning and improvement, and we will hold ourselves accountable through regular assessment and transparent reporting of our progress.
By adhering to this DEBI Statement, we affirm our commitment to building a more inclusive and equitable workplace. Veson complies with applicable federal, state, and local laws governing discrimination in employment. We believe that fostering a culture of diversity, equity, belonging, and inclusion is not only the right thing to do but also essential to our long-term success and sustainability. Together, let us embrace these principles and work collaboratively to create a company where everyone feels valued, included, and empowered to succeed.
If you have feedback about diversity, equity, belonging, and inclusion, please contact People & Culture Team.
Accessibility and Disabilities
It is Veson’s policy to comply with local laws concerning the employment of persons with disabilities. Veson is committed to providing equal opportunities for employees or job applicants who have a physical or mental disability with respect to any terms, privileges, or conditions of employment, including, but not limited to hiring, advancement, discharge, compensation, and training. An employee who considers that they are affected by a disability or any medical condition which affects their ability to undertake their work should notify the People & Culture Team. The People & Culture Team will consider, in accordance with applicable local laws, whether there are accommodations or reasonable adjustments that could be made to the requirements of the employee’s job or to other aspects of the working arrangements that will provide support to the employee at work. Employees should contact People & Culture Team to discuss potential accommodations.
Environmental Goal Statement
Veson recognizes the critical importance of environmental stewardship and our role in promoting a sustainable future. As responsible corporate citizens, we are committed to minimizing our environmental impact and actively contributing to the preservation of our planet for future generations. This Environmental Goal Statement outlines our dedication to integrating sustainable practices into every aspect of our operations.
We acknowledge that our actions have significant implications for the environment, and we are determined to make positive changes that reflect our commitment to sustainability. Our environmental goals are designed to address pressing environmental challenges such as climate change, resource depletion, pollution, and biodiversity loss. By setting ambitious yet achievable targets, we aim to reduce our carbon footprint, conserve natural resources, and promote ecological balance.
This commitment extends to all areas of our business, from product design to community engagement. We strive to innovate and adopt best practices that enhance our environmental performance and support global sustainability efforts. Transparency and accountability are central to our approach, and we will regularly monitor and report on our progress toward these goals.
We understand that achieving our environmental objectives requires the collective efforts of our employees, partners, and stakeholders. Therefore, we foster a culture of environmental awareness and responsibility within our organization and collaborate with others who share our vision of a sustainable future.
By adhering to this Environmental Goal Statement, we reaffirm our dedication to environmental excellence and our belief that sustainable practices are essential to the long-term success and viability of our company. We are committed to leading by example and inspiring others to join us in our pursuit of a healthier and more sustainable world.
We are committed to taking a leadership role as responsible stewards of the physical environment.
This commitment includes:
- Purchasing environmentally preferable products (high energy efficiency ratings, use of post-consumer recycled products, used products, etc.)
- Minimizing the use of toxic substances and handling wastes responsibly
- Conserving natural resources through recycling and reuse
- Centrally locating our offices so that employees can use public transportation and reduce their carbon footprint
- Investing in non-profit organizations that support and safeguard the environment
By adhering to this Environmental Goal Statement, we reaffirm our dedication to environmental excellence and our belief that sustainable practices are essential to the long-term success and viability of Veson. We are committed to leading by example and inspiring others to join us in our pursuit of a healthier and more sustainable world. We encourage our community to share ideas on how we can advance these goals by contacting the People & Culture Team.
Together, we can make a meaningful difference and ensure that Veson remains at the forefront of environmental stewardship. Let us all work collaboratively to achieve our environmental goals and create a positive and lasting impact on our planet.