In an ever-changing global business environment, we are driven by making sustainable improvements for the good of the environment and society as well as for our ability to create long-term value. We act with integrity at all times, and we expect our partners to do the same - because our business is built on trust.
We manage risk and opportunities proactively
At Blue Water, we actively reflect and integrate responsibility in our governance structure and risk management systems. By systematically identifying our environmental, social and governance risks and goals, we can determine where we need to focus to continue running a responsible business and enhancing our positive impact.
This is part of our value of being a trustworthy and reliable company and partner.
Working strategically with ESG
We work proactively and strategically with risk management and Environmental, Social and Governance (ESG) issues by setting priorities to meet opportunities and mitigate risks as well as reallocating resources accordingly and most efficiently.
Governance | We ensure that our Board of Directors and our Management team are aligned in the process of evaluating and acting on risk and opportunities on a corporate and enterprise level.
Strategy | We assess and monitor the actual and potential impact of sustainability-related issues on our business, strategy and financial forecasting through scenario-analyses on a short, medium and long-range.
Risk management | We identify, evaluate and manage risks and opportunities as well as navigate and adjust accordingly. We make sure to deliver on the necessary changes and adjustments across all dimensions of our company.
KPIs and measurable values | We continuously evaluate and monitor the identified risks and implement corrective and joint action plans for mitigation/elimination as well as measure our success based on established KPIs.
Our Corporate Risk Management System
We have deployed a Corporate Risk Management System, identifying and mapping risks and opportunities.
The information in the system is based on inputs from all business units covering the entire organisation and all areas of business such as health, safety, environment, compliance and finance. If we experience new demands or concerns from employees, customers, partners, suppliers and/or other stakeholders, these are assessed and documented in the Corporate Risk Management System.
Risk Reviews on Board and Management level
Management evaluates risks and opportunities and decides on future actions and KPIs on enterprise level.
The Board of Directors evaluates strategies and initiatives aimed at meeting risks and opportunities defined in the Risk Management System on an annual basis e.g., on Executive Board Meeting.
Data Ethics and cyber security
Data ethics and cyber security are important elements of running a responsible business since cyber-attacks remain a high-risk area. In Blue Water, we take precautionary actions to mitigate and prevent the risk of cyber-attacks. Hence, we have a strategic focus on data and information security and accountability, we establish adequate policies and guidelines, and we initiate programmes and training to raise the level of knowledge and awareness among our employees and management.
We have launched several technological initiatives to further secure the IT infrastructure so that data are adequately protected. In addition, we have introduced supportive measures which are regularly reviewed to confirm criteria for processing input and output data.
High ethical and compliance standards
Blue Water is an organisation with strong values of responsibility. We act with integrity regarding ethical business conduct and compliance. Thus, we are committed to an environment where open and honest communications are the expectation, not the exception. We comply with all applicable laws and regulations in the countries in which we operate, and we ensure that our policies live up to our ethical standards – and vice versa.
We expect all employees and partners to act within the framework of the law and encourage them to act if they encounter any deviations.
Any employee, customer or business partner, who for ethical reasons decides to uncover or inform about unacceptable conditions or direct illegality at Blue Water, are encouraged to report directly to our Whistle Blower Programme the Ethics Line without fear of retaliation or similar. Our Ethics Line serves to:
- Uncover and control unethical and illegally conducted practices within the Blue Water global organisation
- Ensure that all employees observe the current legislation and operate within the company’s moral and ethical framework.
Company Code of Conduct
Our Code of Conduct supports us in being uniform in our business approach and thereby ensuring that we always live up to our own values of high integrity and responsibility and comply with all applicable laws and regulations.
It covers many aspects of our business, including integrity and business ethics, human rights, non-discrimination, working environment, fair competition, anti-corruption and bribery as well as conflict of interests.
The policy is an agile policy. We aim for updates continually addressing changes in the business environment and stakeholder expectations.
Supplier Code of Conduct
Since our suppliers are a crucial part of our value chain when carrying out services on behalf of Blue Water, we expect every supplier to share and live up to the same legal and ethical standards as we do.
The main areas of supplier responsibility implicate anti-corruption, health and safety, labor and human rights and environment.
We give preference to suppliers who commit to the principles of UN Global Compact, and we intend to work with suppliers who are ISO 9001, 14001 and 45001 certified or as a minimum are working according to similar principles.