Governance
ADVANCING BUSINESS RESPONSIBLY
At Mercuria, responsible business goes beyond solely compliance. We actively promote transparency, standardization, and a level playing field within the industry, readily supporting initiatives, both internally and externally, that drive positive environmental, market, and technological transformation.
We value collaboration and seek out partnerships with stakeholders and industry peers who share our commitment to advancing the commodity trading sector and fostering responsible and effective growth.
Our mission is to leave a positive impact on the communities where we operate and contribute meaningfully to the global macro ecosystem.
Transparency and Cooperation
At Mercuria, we strongly believe in the transformative power of transparency and collaboration. We proactively bridge communication gaps between diverse stakeholders, fostering open dialogue that drives progress towards our shared goals.
We recognize that knowledge and understanding are powerful tools. They are essential to driving advancements in social, environmental, market, and governance spheres.
These principles guide our engagement with a wide range of external stakeholders in the belief that collaborative efforts are the most effective and efficient enablers for change and evolution.
World Economic Forum (WEF)
Mercuria is proud to work with the World Economic Forum (WEF). The WEF is the International Organization for Public-Private cooperation. “The Forum convenes top political, business, cultural, and societal leaders to influence and shape global, regional, and sectoral agendas. It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It maintains independence and impartiality, with no affiliation to special interest groups. The Forum strives in all its efforts to demonstrate entrepreneurship in the global public interest whilst upholding the highest standards of governance.
Mercuria has joined a coalition of top business leaders across industries to announce a commitment to the Stakeholder Capitalism Metrics. This set of ESG metrics and disclosures released by the WEF and its International Business Council (IBC) are designed to help companies more consistently measure and report progress towards shared economic, environmental and social objectives. Mercuria’s ESG related communications seek to align with these metrics where relevant.
Mercuria is already recording and disclosing several of the metrics suggested by the WEF and IBC and we are committed to further expanding our data collection in this area.
Maritime anti-corruption network (MACN)
Mercuria Energy Group and Minerva Bunkering are both full members of the Maritime Anti-Corruption Network (MACN). The MACN is a global business network working towards the vision of a maritime industry that is free of corruption and enables fair trade for the benefit of society at large. We are proud to work alongside other MACN members in the quest to eradicate all forms of maritime corruption. The overarching objective is to create a culture of integrity within the maritime community through the following activities:
- Raising awareness of the challenges faced
- Implementing the MACN Anti-Corruption Principles and co-developing and sharing best practices
- Collaborating with governments, non-governmental organizations, and civil society to identify and mitigate the root causes of corruption
Institute for Human Rights and Business (IHRB)
Mercuria has partnered with the Institute for Human Rights and Business (IHRB), actively following their work and participating in their events, particularly on issues related to a just energy transition and the human rights risks affecting communities and seafarers.
This engagement strengthens our network in responsible business practices and keeps us informed about emerging issues, enabling us to monitor risks and integrate effective mitigation strategies into our operations.
Material topics impacting stakeholders
Mercuria prioritizes open dialogue with our employees. Through an annual Materiality Analysis, we anonymously gather employee feedback on a range of Agenda 2030-aligned ESG topics. This transparent process empowers employees to voice their opinions and helps us identify the issues that matter most to them.
Employees weigh in on various ESG topics, assigning scores from 0 (not relevant) to 3 (highly relevant) for both perceived by the employees, perceived by Mercuria according to the employees, and how Mercuria is addressing those topics.
Materiality Matrix 2024
Results from the latest survey can be found on the Governance page in the Progress in 2024 section
We then analyze the results to identify the discrepancies between employees’ perceptions on topics and how they rate Mercuria’s views and work on these topics. Building on this analysis, we prioritize the key topics for enhancement, focusing our efforts on improving overall performance.
As a demonstration of our dedication to continuous improvement and learning from our stakeholders, we encourage employee feedback and actively seek ways to further enhance our ESG impact.
This year, we incorporated input from other stakeholders, including banks, suppliers, and customers into our materiality assessment by analysing their due diligence inquiries to us, allowing us to identify the topics they consider most material to Mercuria.
Payments to governments
Mercuria is committed to operating with the highest standards of integrity, as reflected in our robust anti-bribery and anti-corruption policy. This policy empowers every employee to uphold the highest ethical standards by prohibiting any form of improper payments, including facilitation payments.
Facilitation payments, intended to expedite routine government actions, are illegal in many countries and can be detrimental to Mercuria’s reputation and business interests.
Payments to governments 2024
The latest report of payments to governments for the financial year 2024 can be found in the Governance in 2024 section.
Should an employee encounter such a request, immediate escalation to the Corporate Responsibility & Compliance (CR&C) team is mandatory. CR&C, collaborating with the Legal Group, meticulously reviews the situation before any approval is granted.
At Mercuria, there is zero-tolerance for bribery and corruption. Engaging in such activities results in disciplinary action, including termination of employment.
Our commitment to this policy rests on a fundamental belief: ethical and transparent conduct is paramount. We actively foster a culture where such wrongdoing is never condoned or accepted.
Safety data sheets
Mercuria prioritizes not only the safety of its own employees and contractors, but also the well-being of its customers and counterparties. We acknowledge the critical role clear and timely communication plays in managing all commodities, particularly those classified as dangerous goods.
Therefore, Mercuria readily provides Safety Data Sheets (SDSs) to our customers and partners. These comprehensive documents, rigorously compliant with the UN’s Globally Harmonized System (adopted by most nations), fulfil a dual purpose:
- Enabling safe product handling: They provide essential health and safety information about Mercuria’s products, allowing informed handling procedures and risk mitigation strategies.
- Consistent hazard communication: They serve as a standardized and effective tool for communicating essential hazard information regarding the supplied commodities.
Furthermore, we make these SDSs readily accessible, available both on Mercuria’s website and directly accompanying product deliveries, ensuring immediate access to this vital safety information.
Direct access to Mercuria SDS
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