Governance
ADVANCING BUSINESS RESPONSIBLY
Introduction
Mercuria’s approach to responsible business extends beyond compliance. We work to promote transparency, strengthen standards and support fair and efficient markets, recognising that responsible practices are essential to long-term value creation and resilient energy and commodities systems.
Collaboration is central to this approach. By working with partners, industry peers and stakeholders, we aim to translate shared commitments into practical action—supporting positive environmental, social and market outcomes across the ecosystems in which we operate.
Our objective is to contribute to sustainable growth while delivering meaningful impact for the communities, markets and systems that underpin our business.
Transparency and Cooperation
At Mercuria, transparency and collaboration are key enablers of progress. We actively engage with a wide range of stakeholders to promote open dialogue, share knowledge and support the development of consistent standards across the industry.
We recognise that improving transparency and strengthening cooperation helps address complex challenges across environmental, social, market and governance dimensions. By connecting different perspectives and areas of expertise, we contribute to more informed decision-making and more effective outcomes.
These principles guide our participation in external initiatives and partnerships, where collective action plays a critical role in driving meaningful and scalable change.
World Economic Forum (WEF)
Mercuria has joined a coalition of global companies committed to the Stakeholder Capitalism Metrics, developed by the WEF and its International Business Council. These metrics provide a consistent framework for measuring and reporting progress across economic, environmental and social dimensions.
Our ESG-related disclosures are aligned with these metrics where relevant, and we continue to expand our data collection and reporting capabilities in line with evolving standards.
We also engage with UpLink, the World Economic Forum’s open innovation platform, which connects entrepreneurs, investors and partners to scale solutions addressing global challenges. Through this collaboration, we support the development of innovative approaches across areas such as energy, climate and nature, helping to bridge the gap between early-stage ideas and real-world implementation.
Learn more: https://www.weforum.org/
Maritime anti-corruption network (MACN)
Mercuria Energy Group and Minerva Bunkering are members of the Maritime Anti-Corruption Network (MACN), a global business network working to eliminate corruption in the maritime industry and enable fair trade.
Through MACN, we collaborate with industry peers, governments and civil society to:
- Raise awareness of corruption risks
- Implement anti-corruption principles and share best practices
- Address the root causes of corruption through collective action
This engagement supports our broader commitment to integrity, transparency and responsible business conduct across global supply chains.
Learn more: https://macn.dk/
Institute for Human Rights and Business (IHRB)
Mercuria has developed an ongoing partnership with the Institute for Human Rights and Business (IHRB), through which we actively follow its work and participate in roundtables, forums, and other stakeholder discussions. This engagement has been particularly valuable in relation to issues surrounding a just energy transition, including the human rights risks affecting communities and seafarers.
Through this collaboration, we exchange practical insights, contribute to dialogue on emerging challenges, and deepen our understanding of evolving practices in responsible business conduct. Participating in these discussions helps us stay informed of current and emerging human rights issues, strengthen our external network of experts and practitioners, and benchmark our approach against broader industry thinking and practice.
This collaboration also supports our ability to identify, monitor, and respond to relevant risks across our operations and value chains. By drawing on these insights, we are better positioned to integrate appropriate mitigation measures into our policies, processes, and decision-making, and to strengthen our overall approach to responsible business conduct.
Material topics impacting stakeholders
Mercuria prioritises open dialogue with its stakeholders, including employees, to better understand the issues that matter most to them.
Through our annual materiality analysis, we gather feedback on a range of ESG topics aligned with our Agenda 2030 priorities. This process enables us to identify key areas of focus and assess how our performance aligns with stakeholder expectations.
Materiality Matrix 2025
Results from the latest survey can be found on the Governance page in the Progress in 2025 section
We analyse the results of our materiality assessment to identify any gaps between stakeholder perceptions and how Mercuria is currently addressing these topics. This allows us to prioritise areas for improvement and focus our efforts on enhancing performance where it matters most.
As part of this process, employees assess a range of ESG topics by assigning scores based on their relevance. These scores reflect how topics are perceived by employees, how they believe Mercuria views these topics, and how effectively Mercuria is addressing them. This structured approach provides valuable insight into both internal alignment and areas requiring further attention.
Building on this analysis, we define priority topics and integrate them into our broader CSR and business strategy, ensuring that our actions remain aligned with stakeholder expectations and evolving market requirements.
In addition to employee engagement, we incorporate input from external stakeholders, including banks, suppliers and customers. This is achieved through the analysis of due diligence requests, questionnaires and ongoing engagement, enabling us to identify the issues that external stakeholders consider most material to Mercuria.
This combined approach ensures that our materiality assessment reflects a comprehensive view of stakeholder priorities, supporting informed decision-making and continuous improvement across our ESG performance.
Results from the latest annual assessment are available in the Governance section of the annual progress reporting.
Payments to governments
Mercuria is committed to operating with the highest standards of integrity, supported by a robust anti-bribery and anti-corruption framework. This includes a strict prohibition on improper payments, including facilitation payments. We support transparency in our interactions with public authorities and report our payments to governments to provide clear, accountable disclosure of these activities.
Payments to governments 2025
The latest report of payments to governments for the financial year 2025 can be found in the Governance in 2025 section.
Facilitation payments, intended to expedite routine government actions, are illegal in many jurisdictions and can expose Mercuria to significant legal, regulatory and reputational risk.
Where such requests arise, employees are required to escalate immediately to the Corporate Responsibility & Compliance (CR&C) team. CR&C, in collaboration with the Legal function, reviews each case in detail before any action is taken, ensuring that all decisions are consistent with Mercuria’s policies and applicable legal requirements.
Mercuria maintains a zero-tolerance approach to bribery and corruption. Any breach of this policy may result in disciplinary action, including termination of employment.
Transparency is a key component of this approach. By reporting payments to governments, Mercuria provides clear visibility on its interactions with public authorities and supports accountability across its operations. This reporting is aligned with applicable regulatory requirements, including obligations under the Swiss Code of Obligations relating to non-financial reporting, and reflects widely recognised principles of transparency and responsible engagement with governments.
This approach reinforces our commitment to ethical conduct and supports trust in the markets and jurisdictions in which we operate.
The latest report on payments to governments is available in the Governance section of the annual reporting.
Safety data sheets
Mercuria recognises that the safe handling of commodities is fundamental to protecting people, the environment and the integrity of operations across the value chain.
Providing clear, accurate and timely information is therefore essential to enabling our employees, customers and counterparties to manage product-related risks effectively and in line with applicable standards.
Accordingly, Mercuria provides Safety Data Sheets (SDSs) to customers and partners to support the safe handling, transport and use of products, particularly those classified as hazardous or dangerous goods.
Direct access to Mercuria SDS
These documents are prepared in accordance with the United Nations Globally Harmonized System of Classification and Labelling of Chemicals (GHS), which is widely adopted across jurisdictions to ensure consistency in hazard communication.
Safety Data Sheets fulfil two key functions:
- Enabling safe product handling: providing detailed health, safety and environmental information to support appropriate handling, storage and emergency response measures
- Consistent hazard communication: ensuring that risks associated with products are clearly and consistently communicated across supply chains
We make Safety Data Sheets readily accessible both on Mercuria’s website and directly accompanying product deliveries, providing immediate access to essential safety information for all relevant stakeholders.
Through this approach, Mercuria supports safe operations across the value chain and reinforces its commitment to responsible and transparent product stewardship.
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