Dear all,

This is the last year of our CSR strategy “On the Right Course”, which has shaped and guided our CSR work during the last 3 years.

In that period, NORDEN has made a great leap forward in terms of what we have achieved within CSR. Key initiatives and efforts in 2015 have been development of an Anti-Corruption Compliance Programme; participation in the development of the Maritime Anti-Corruption Network and active member of its steering committee; the development with J. Lauritzen of an industry standard within Responsible Supply Chain Management called IMPA ACT, and the fact that NORDEN was awarded a place in the CDP Leadership Index for our reporting on environmental and climate change issues to CDP all 3 years.

In addition, specifically in 2015, NORDEN developed an automated system for registration of facilitation payments and launched 12 anti-corruption e-learning courses. Moreover, we completed 2 human rights impact assessments, 1 for seafarers and 1 for land-based employees, based on the requirements of the UN Guiding Principles on Business and Human Rights.

With all NORDEN has achived the past year, we look forward to see what lies ahead within CSR in the coming years. At NORDEN, we have developed a new CSR direction that will guide us in our future CSR work, and most importantly, it will help NORDEN reap the benefits of all our previous CSR efforts. The new direction is a new mindset, where NORDEN assessing and evaluating all our current CSR efforts and use them more proactively in everyday business and business dealings.

NORDEN's CSR efforts should add value for our customers, society and NORDEN’s business because only then will the true value of CSR be unlocked.

We hope you will follow our new CSR direction and all that it entails in the next 3 years.

Martin Badsted
CFO and Chairman of the CSR Executive body

This CSR report serves as NORDEN's Communication on Progress
(COP) report to the UN Global Compact as well as NORDEN's reporting
in relation to the requirements of section 99a and 99b of the Danish Financial Statements Act.