Modern Slavery Statement
Veson Nautical Modern Slavery and Human Trafficking Statement 2022
Published June 2023 reporting on fiscal year ending December 31st 2022
Modern slavery is one of the most complex and important human rights challenges of our time. It takes various forms, such as slavery, servitude, forced and compulsory labor and human trafficking, all of which deprive the victims of their individual liberties in order to exploit them for personal or commercial gain. Veson has zero-tolerance for modern slavery and human trafficking.
This statement applies to all persons working for us or on our behalf in any capacity, including employees at all levels: executives, directors, interns, agents, contractors, external consultants, third-party representatives and business partners. This statement covers Veson Nautical LLC and all our subsidiaries globally including Oceanbolt, Q88 and VesselsValue.
Our Business
Veson Nautical is the global market leader in developing, implementing, and supporting the solutions that propel maritime commerce. We strive to provide top-level products and customer service to our clients. We are a global company, headquartered in Boston, with 20,000+ global users, a presence in 60 countries, and office locations in London, Manila, Singapore, and Tokyo with over 400 technologists and professionals on our team.
Our core values are: “Do the right thing”, “Take Pride in your work”, and “Move forward.” These principles compel us to focus on what is best for our clients, our colleagues, and our community. To that end, Veson upholds the highest standards of conduct in the delivery of our services and adheres to well defined ethical values and practices, with all our employees signing and being bound by our business Code of Conduct and Ethics. Employees who are found in breach of our code of conduct and other policies face disciplinary action up to and including termination.
Our Supply Chains
At Veson we believe in doing business with people who share our commitment to human rights and the environment – strengthening our business community through shared values.
Risk Assessment
Following an assessment of our risk regarding modern slavery and human trafficking, we have found that our business model, sector and supply chain pose a low risk of modern slavery and human trafficking. Despite this, we aim to continue monitoring our company and suppliers to ensure that no such crimes are committed within our supply chain and to increase our transparency.
Due Diligence
Veson undertakes regular risk evaluations to facilitate good decision making in our business operations and throughout the delivery of our products and services. Before engaging contractors, vendors and new clients (and during the term of each agreement), team members are required to complete a risk assessment using our due diligence compliance procedures.
Our risk assessments and evaluations include using standard questionnaires and risk research. When necessary, we will establish regular monitoring intervals for business partners to ensure their continued compliance with Veson’s policies and procedures.
Whistle Blower Policy
Veson encourages employees to report any suspected illegal, unethical, or fraudulent activities. This includes any suspicion of modern slavery or human trafficking in any part of our business or supply chains. To support this, complaints can be submitted anonymously, via a free and confidential whistleblowing service provider. All complaints made through our whistleblower hotline or other reporting methods are reviewed and investigated. Veson does not tolerate acts of retaliation against anyone who makes a good faith report of a possible violation, or who participates in an investigation of possible wrongdoing even if they turn out to be mistaken.
Looking Ahead
As required by the Modern Slavery Act 2015, this statement and our procedures will be reviewed annually. Our plan is to remain steadfast in our commitment to preventing Modern Slavery and Human Trafficking in our business and throughout our supply chain. In the next financial year, we aim to update our Employee Handbook and Code of Conduct to help raise our workforce’s awareness about modern slavery.
Approved by the Board of Directors – June 26th 2023
Signed – John R. Riley, Jr., Director
