Gunvor Chief Executive Officer
Introduction to the
2023 HSEC report
Fredrik Törnqvist,
Energy Transition Director, Managing Director Nyera,
Member of Gunvor Group Ltd Board of Directors
For 10 years, Gunvor Group has been publishing an annual Ethics, Sustainability & Compliance report, which outlines the company’s many activities, achievements, and challenges across the world…
…In the beginning, the report focused solely on health and safety, specifically that which affected our oil refining operations. Each year, though, as the Group has expanded and evolved as an organization, new dimensions of analysis have been included. Environmental impact, emissions, transaction transparency, and human rights are just some of the most recent areas for inclusion and documentation.
2023
Fredrik Törnqvist,
Over the years different executives have introduced this report. It is a testament to the multiplicity of functions involved in our sustainability approach.
By the numbers
Environment
0
Spills of > 1 Barrel
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Social
100%
Operated Assets and Joint Ventures Assessed on Human Rights Impacts
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Governance
997
New Business Counterparties
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Our
Governance
Framework
The Code of Conduct and Ethics addresses what is expected from
employees and people working on behalf of Gunvor including
anti-bribery and corruption, sanctions, human rights, health and safety
The Code of Conduct and Ethics for Business Partners sets out expectations on topics similar to what is expected from the employees such as anti-bribery and corruption, sanctions, health, safety, human rights and environment. The Health, Safety, Environmental, Human Rights and Communities Policy (“HSEC Policy”): is the overarching reference document for health and safety, human rights and environmental topics (including climate change, biodiversity, waste management and resource efficiency).
Targets
Maintain our low level of exceedances and complaints
Maintain spill prevention performance
Systematize reporting of recyclable waste with a view improving recyclability
Continue to develop plans for biodiversity preservation measures on our operated assets
Gunvor’s Scope 1 and Scope 2 greenhouse gas emissions have decreased by
47.3%
compared with 2019.Environment
We are currently dedicated to decreasing our carbon footprint, with a specific target to reduce our Scope 1 and Scope 2 greenhouse gas emissions by 40% by 2025, while also strategizing to lower our Scope 3 emissions, encompassing indirect emissions across our value chain.
40%
Reduction of Scope 1 & 2in 2025 vs 2019
Social
Consistent with our long-term/forward-looking investment in other assets, we are focused on developing our employee base. Throughout the year, Gunvor has sought ways to inspire our experienced staff, while taking steps to
incorporate and nurture new ideas and talent.
The company recorded a 16%
increase in its workforce during
the year, translating to
(”white collar” positions)
increase in its workforce during
the year, translating to
247
new employees(”white collar” positions)
Policies & Governance
As a responsible corporate citizen, Gunvor has made Compliance the centrepiece of its business functions, and the company today upholds a leading function within the industry. Since 2020, the size of the Compliance Department has nearly doubled with 32 employees worldwide. These experts— in law, human rights, sanctions or other key areas—serve to assess risks and mitigation processes to ensure the most optimal risk mitigation while adapting quickly to changing business needs.
In 2023, Gunvor’s compliance
team vetted
team vetted
997
new business counterparties.The Future
Gunvor’s strength—which has enabled our company over the last 25 years to become one of the largest independent traders in the world—is in being agile and entrepreneurial in the face of new challenges, changing markets, and rapidly identifying and pursuing opportunities. Our advanced analytics ensure quick decision-making, sound governance and robust compliance limit risk.
Contact us with your feedback info@gunvorgroup.com