Governance overview

The Stakeholder Capitalism Metrics, drawn from established voluntary standards, offer a set of 21 core, universally comparable disclosures focused on four key areas: People, Planet, Prosperity and Principles of Governance. These metrics address issues deemed most critical for business, society and the planet, serving as an industry-agnostic, region-independent tool for companies to report on their sustainability efforts. By facilitating benchmarking and progress tracking, they enhance transparency and accountability, ultimately promoting effective decision-making and shared, sustainable value creation.

Mercuria’s commitment to this initiative manifests in the following ways: 

• Integration into reporting: We actively incorporate the core metrics into our reporting for investors and other stakeholders, utilizing platforms such as our reports, financial statements, and other relevant materials. This reporting focuses on the metrics most relevant to our specific business model, or transparently explains alternative approaches when relevant. 
• Advocacy and collaboration: We actively support collaboration and encourage our business partners to get involved. We recognize the importance of industry-wide collaboration in driving this initiative forward and promoting shared advancements. 
• Standardization and Convergence: We actively contribute to efforts aimed at converging existing Environmental, Social, and Governance (ESG) standards, frameworks and principles. The focus on aligning non-financial reporting practices on common ESG metrics ultimately leads to a more globally accepted and effective solution for sustainable development. 

“At Mercuria we are keen on industry collaboration and cooperation to bring more standardization to the transparency and operation of the commodity supply chain. We see progress in these areas as key to promoting and facilitating the energy transition through encouraging efficiencies and development. We welcome this initiative as an important step forward.”

Marco Dunand | CEO, Mercuria

Our Corporate Social Responsibility (CSR) reporting demonstrates a proactive approach to ESG reporting. Prior CSR reports already reflect the recording and disclosure of several metrics aligned with the WEF white paper. We are continuously refining our program to ensure comprehensive and relevant data collection and disclosure regarding our business’s impact on all stakeholders.

Mercuria empowers a number of key committees to support the Board of Directors in fulfilling oversight responsibilities, including but not limited to:

Executive Committee

• The Executive Committee meets on a daily basis to provide management oversight and governance over a range of current issues and is composed of senior management from across the firm’s commercial and Federation functions. Specifically, the committee will consider the current levels of trading risk, deal execution, finance matters, the firm’s current and future investments as well as compliance and corporate governance.

Compliance & Business Ethics Committee

• The Compliance and Business Ethics Committee was established to assist the Board of Directors of Mercuria in fulfilling its oversight responsibilities with respect to the company’s activities as they relate to Compliance and Ethics. The Committee has a general responsibility to oversee the Company’s Compliance and Ethics programs, policies and procedures.

Health, Safety, Security & Environmental Committee

• Dedicated to environmental, health, safety and security across Mercuria’s operations, the HSSE Committee oversees relevant programs, policies and procedures, ensuring the safeguarding of employees, communities, and the environment. Additionally, the committee actively advises management on implementing robust HSSE measures within the company’s diverse holdings and assets, promoting consistent practices throughout the group. 

Group Audit Committee

• The Group Audit Committee is responsible for the proper financial governance and oversight of the Group. This includes but is not limited to the production of accurate financial accounts for all applicable Group entities, ensuring that the Group is compliant with all regulatory financial standards. The committee is also required to ensure that the firm’s internal records and control systems are operating to the Group’s high standards.

Trading Risk Committee

• The Trading Risk Committee meets weekly to review ongoing and topical risks across the firm’s trading activities. The committee comprises senior risk managers from across the firm from both the commercial and Federation functions.

Investment Committee

• The Investment Committee comprises senior management and key personnel from the Investment and Federation teams. The committee reviews and opines on every new principle investment or material investing decisions on existing investments (e.g. participation in follow on rounds, launch of sales process). The committee is also focussed on risk management across existing and new investments. All investments must be consistent with the Group’s energy transition strategy or overarching investment goal to acquire assets that offer synergistic benefits to the firm’s trading platform.

The establishment and active engagement of these committees highlights Mercuria’s commitment to responsible and ethical business practices. They serve as powerful instruments in ensuring that the company’s activities consistently prioritise the well-being of people, places and the environment.

• People welfare: The welfare of our employees, contractors and the general public is our highest priority. We operate with zero tolerance for any situation that would willfully jeopardize well-being in association to our business activities.
• Environmental responsibility: Recognizing our social contract with communities, we commit to conducting business in an environmentally responsible manner.  Our operations are mandated to ensure their adherence in meeting relevant permits or authorizations.  In the event of any equipment failures or operational errors, operations are required to immediately take corrective actions, and to promptly report.
• Robust security: We are dedicated to strengthening our defenses against both physical and technological threats.  Protecting our business, employees, external stakeholders and the wider community from such threats requires constant and appropriate vigilance.

Mercuria is dedicated to fulfilling its legal and social obligations when it comes to tax. We consistently strive for best practices in accuracy and timeliness, across the thousands of tax returns filed by our finance team each year.

Beyond simply complying with regulations, Mercuria ensures its operations in low-tax jurisdictions are firmly grounded in legitimate commercial substance and economic activity. When navigating complex tax matters or encountering significant uncertainties, we leverage the expertise of external advisors to ensure responsible and transparent actions. 

We value open and trust-based relationships with tax authorities across all our operating jurisdictions. This commitment manifests through various actions: 

• Diligent Compliance: We diligently adhere to all relevant tax legislation, regulations and obligations in each jurisdiction. 
• Prompt and Accurate Filings: We meet all tax filing, return and payment deadlines accurately and on time. 
• Responsible Tax Contribution: We consistently pay the correct amount of tax in a timely manner. 
• Collaborative Approach: We proactively work with tax authorities to address material uncertainties and seek early agreement wherever possible. 
• Zero Tolerance for Evasion: We firmly oppose and do not tolerate any form of tax evasion, including by individuals employed or contracted by or on behalf of Mercuria. 

New employees are guided through the Code of Conduct with particular attention given to certain aspects, such as the Whistle-blower policy. Mercuria requires certain of its business partners to review and attest to compliance with its Code of Conduct. The company has implemented procedures to ensure that its business partners are aware of Mercuria’s Business Principles and the expectations it has for the way they conduct business. Mercuria’s Code of Conduct is published digitally on our website, our internal intranet site, and is available in hard copy in our offices around the world.