Modern Slavery Statement

ABS Modern Slavery Act Statement

The American Bureau of Shipping (“ABS”) and its subsidiaries have prepared this statement in accordance with section 54 (1) of the United Kingdom’s Modern Slavery Act 2015 (the “Act”).

Whilst this statement applies to ABS and its subsidiaries it has been specifically prepared in satisfaction of ABS Europe Limited’s legal obligations under the Act.

• American Bureau of Shipping is a not for profit organization incorporated by statute in New York and headquartered in Houston, Texas.
• ABS Europe Limited is a subsidiary of ABS incorporated under the laws of England and Wales and subject to the laws thereof.

ABS Mission Statement

“The mission of ABS is to serve the public interest as well as the needs of our members and clients by promoting the security of life and property and preserving the natural environment.”

Introduction to ABS’ business

For more than 150 years, ABS has been at the forefront of marine and offshore energy safety and innovation. We provide traditional classification services as well as on-the-ground technical services in asset performance, energy efficiency, environmental performance and life cycle management.

With a network of surveyors, engineers, technical specialists and support staff around the World, ABS is committed to its Mission Statement and to maintaining its reputation as an ethical and independent arbiter of technical and safety standards in our industry.

ABS’ Code of Ethics and approach to Modern Slavery

All ABS employees are required to undertake mandatory annual training and certify they have read, understood and will comply with the terms of ABS’ Code of Ethics as part of their continuing commitment to the Company.

ABS is committed to a culture of mutual respect and to treating one another fairly.  In such a culture, slavery and human trafficking by any ABS staff or associated third party is intolerable.

ABS is committed to implementing and enforcing a Modern Slavery Policy. We work to continually improve our third party due diligence processes and are committed to further developing our Code of Ethics and annual training to incorporate the Company’s Modern Slavery Policy.

This policy, together with the existing systems we have put in place, will ensure that Modern Slavery does not take place anywhere in our business or supply chain and that no one with whom we do business benefits from, or in any way contributes to, Modern Slavery.

ABS is committed to ensuring all of its staff comply with the terms of its Modern Slavery Policy.

ABS works continually to improve staff training and awareness in relation to all elements of Modern Slavery and Human Trafficking to ensure that staff members can understand, recognize, highlight and report the risks and can identify any situations that may be in breach of our policies.

In regard to third party suppliers, ABS undertakes comprehensive due diligence on:

• Agents
• Subcontractors
• Consultants
• Partners
• Professional Services Companies
• Charities

This due diligence is reviewed every three years.  Each supplier is reviewed on a case by case basis in order to ensure a thorough approach and acknowledgement that one size does not fit all in relation to ethical compliance.

As a supplier of professional services ABS considers itself to be low risk in relation to the Act and employs all staff in accordance with both its own internal policies and local employment legislation.

ABS does acknowledge, however, that there are parts of the world in which we operate which have been recognized as having poor track records in relation to Modern Slavery and Human Trafficking.  To ensure ABS’s supply chain is held to the highest standard of ethical conduct in relation to Modern Slavery, ABS intends to undertake additional due diligence on third party suppliers operating where such high risk locations overlap ABS’s areas of operation.

Action Items

ABS remains committed to continued Employee training and implementation of its Code of Ethics and to an unwavering intolerance of any practice related to the exploitation or manipulation of either its own ethical code or that of the Modern Slavery Act.

We have therefore identified the following steps which we believe will further enhance ABS’ commitment to this cause:

• Integration of Modern Slavery Policy into the ABS Code of Ethics
• Incorporation of Modern Slavery Policy into the Employee annual certification
• Additional statements added to third party due diligence specifically relating to Modern Slavery
• Identification of geographical or industrial areas in which ABS operate that may be “high risk” and the preparation of contingency plans for the same.

ABS recognizes that the commitments and duties outlined in this statement are ongoing and shall continue to work to ensure all segments of our business are held to the highest ethical standards as enshrined within our own policies and by the Modern Slavery Act.