Governance

Conducting business with integrity

Acting with honesty and adhering to high ethical standards, while fostering a respectful environment for all employees, is vital to our ongoing success.

We value innovation and have established a culture that promotes compliance, collaboration, and integration. The management team at NJORD traders is committed to nurturing and upholding this culture throughout the company, working together as a governing body to ensure its success.

Each team member's obligations

At NJORD traders, every employee plays a crucial role in ensuring compliance. Our management team holds all staff to high standards, expecting them to act with integrity and adhere to all applicable laws and regulations.

Moreover, we aim to not only meet but exceed industry standards and best practices whenever feasible.

Partnership expectations

Throughout our operations, we expect our partners to comply with international standards in every aspect and to publicly affirm their commitment to our Code of Conduct.

Our Code of Conduct exemplifies NJORD traders' pledge to guarantee that all employees exhibit the highest degree of integrity and transparency in their roles and responsibilities.

Global Guidelines & Standards

Besides following local and international laws, NJORD traders is required to adhere to physical, financial, and environmental regulations in every country where we engage in trade. We are dedicated to fostering a proactive, transparent, and cooperative relationship with regulators worldwide.

To guarantee our compliance with the various laws and regulations that pertain to our operations, we have instituted a thorough compliance program, which is supported and mandated by the NJORD traders management team. This program is executed and overseen by our specialized corporate responsibility and compliance team.

Corporate ethics and regulations

To enhance compliance oversight for the NJORD traders Board of Directors, NJORD traders established the Global Compliance and Law Division (GCLD).

This division consists of a global team of senior professionals who meet quarterly to review the company's business practices related to compliance and ethics. They also assess the effectiveness of NJORD traders' compliance frameworks and policies.

These evaluations support senior management in ensuring that operations adhere to international laws and maintain high ethical standards.

Know-Your-Counterparty

As a leading trader in physical commodities, NJORD traders is known for its reliable logistics and collaborative approach with customers and partners. We prioritize a thorough “Know-Your-Counterparty” (KYC) evaluation before any contract execution, allowing us to manage risk effectively. Our KYC process assesses the commercial strength and compliance of our counterparties, ensuring they are not subject to legal sanctions, while also reflecting our ethical standards.

Before engaging in investments, acquisitions, or joint ventures, we conduct due diligence, especially in regions affected by conflict or corruption. We have established enhanced procedures to investigate our commodities supply chain, ensuring we do not contribute to human rights abuses or exploitation in these areas.

Code of Conduct

The NJORD traders Code of Conduct reaffirms our commitment to high ethical standards. It outlines expected behaviours and provides guidance for reporting issues to the corporate responsibility & compliance department or management. Our whistleblowing policy allows anyone to report concerns about potential breaches of our Code or policies through various channels, including supervisors, managers, local Compliance Officers, or the ethics hotline. We enforce a strict no-retaliation policy for good faith reports, ensuring that all concerns are taken seriously and addressed promptly.

We expect our business partners to support our Code of Conduct and uphold our values and principles in their operations, ensuring ethical conduct and compliance with applicable laws.

Opportunity and Risk assessment

The management team underscores the necessity of a solid risk management approach and a strong ethical culture among all NJORD traders team. By managing risks and identifying opportunities, we seek to minimise losses and create lasting value.

Our risk management function provides independent oversight, collaborating with the management team, trading desks, investment teams, and technology departments to enhance risk processes and manage exposures effectively.

The risk management teams focus on developing strategies, implementing policies, and monitoring risk exposures consistently.

Health, safety, security & environment

NJORD traders priorities the health and safety of individuals, communities, and the environment in all its operations. We perform thorough HSSE due diligence on our owned properties and any potential acquisitions or investments. Our company is equipped with specialised HSSE personnel dedicated to ensuring adherence to our established HSSE standards.

To further solidify this dedication, NJORD traders management has formed an HSSE committee tasked with overseeing all pertinent programs, policies, and procedures, while also providing guidance to management on HSSE issues across NJORD traders' diverse holdings and assets.

Sustainability

We are dedicated to promoting sustainability and protecting the environment, while also facilitating the transition to a net zero future. As various markets have evolved, we have integrated environmental products into our offerings, engaging in carbon trading, certified biodiesel, and other low-carbon solutions, alongside our investments in the production of low carbon fuels.

In the regions where we operate, we prioritize hiring local talent to oversee and manage our facilities. We believe this approach fosters sustainable business practices that not only support the local community but also drive commercial success.