Fair Pay & Worker Respect

TORM plc reported a Lost Time Accident Frequency (LTAF) of 0.32 per million exposure hours in 2023, which converts to approximately 0.064 per 200,000 hours.

The worker engagement score for office-based employees was 8.6 out of 10 in November 2023. The senior officer retention rate was 95% in 2023. For the financial year 2024, no labor violation incidents were reported concerning value chain workers, and no claims or offenses related to human rights were reported in 2023 or 2024.

No War, No Weapons

TORM plc's core business is product tanker operations.

There is no evidence of revenue derived from arms or defense contracts, nor any R&D investment in dual-use technologies with military applications. The company's board oversees geopolitical and compliance risks. There is no indication of defense-related business activities requiring specific oversight. The company has had vessel calls in sanctioned countries such as Sudan, Iran, and Cuba, both prior to and after restructuring, indicating past and potentially ongoing operations in embargoed regimes. While the company states a commitment to responsible business practices and is a signatory to the UN Global Compact, there is no specific quantitative data on alignment with UN Guiding Principles on Business and Human Rights, and third-party audits note major gaps. There is no evidence of exposure to controversial weapons or the need for ethical red lines related to weapons.