We conducted a human rights assessment in June 2023 of our joint venture Petroterminal de Panama (PTP). Gunvor holds a 17% share in the pipeline and both terminals. Our assessment highlighted impact on local communities and indigenous people in the area, with landowners estimating that they have not been adequately compensated for the establishment of the pipeline’s right of way easement, which was constructed in the early 1980s. Indigenous people’s rights were not protected then, and despite legislative progress and recognition of their rights, inequalities persist. The impact on the indigenous population was well known by PTP, its board and local authorities who have been working on agreeing to further compensation. At the end of December 2023, the government has agreed on further compensation with financial participation of PTP. We keep monitoring the situation to understand whether the impact has been adequately mitigated and remedied.