Governance

ADVANCING BUSINESS RESPONSIBLY

Mercuria is committed to promoting transparency, standardization, and a level playing field in the industry. We are eager to support initiatives, both internally and externally, that enable positive environmental, market, and technological transformation.

We are constantly looking for new opportunities to work with our stakeholders and industry peers who share our interest in advancing the commodity trading industry and growing our business responsibly and effectively. We are eager to make a positive contribution to the communities where we operate and the broader global macro ecosystem.

Transparency

We fully believe that transparency and co-operation are important factors to aid communication between different stakeholders and to progress our commitments and goals. 

Knowledge and understanding are very powerful tools and are vital to making any progress and enhancements to social, environmental, market and governance change.

For this reason, we actively participate in, and engage with, many external stakeholders. We believe that multi-stakeholder efforts will always be a more effective and efficient way of achieving change and evolution.

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

Learn more: https://macn.dk/

SuisseNégoce

Mercuria is a member of SuisseNégoce (previously called the Swiss Trading & Shipping Association or STSA). SuisseNégoce is a non-profit, non-political Swiss association representing companies active in commodity trading and shipping activities, trade finance and related services. Since its creation in 2014 it acts as the umbrella organisation for the sector in Switzerland, bringing together the 3 regional associations (Geneva, Zug, Lugano), 180 members and institutions, and over 100 professionals participating in SuisseNégoce Committees and expert Working Groups.

As a national umbrella association, SuisseNégoce’s mission is to provide an inclusive platform of exchange for all companies active in the commodity trading with the aim to support their activities, to represent its members’ interests in Switzerland, to train young graduates and professionals, and to promote the understanding of the activity within the general public.

Learn more: https://www.suissenegoce.ch/

World Economic Forum (WEF)

Mercuria is proud to work with the World Economic Forum. The WEF is the International Organization for Public-Private cooperation.  The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.  It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.  It is independent, impartial and not tied to any special interests.  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.

Learn more: https://www.weforum.org/

Material topics impacting stakeholders

Each year, Mercuria gathers feedback for the company’s Materiality Analysis through a questionnaire where employees remained anonymous in providing their input on a range of Agenda 2030 related ESG topics that are then correlated in a scatter plot.

Employees give weighted scores for a range of topics ranging from zero, as not at all important, to 10 as being the singularly most important.  For each topic, a score was given both to the value an employee felt a topic should be given, as well as the value that the topic actually was perceived as being given.

As can be seen in the chart, across multiple years, the results consistently indicate that our employees judge that Mercuria is managing issues effectively in that the emphasis placed on all topics is at least as strong, if not stronger than is felt to be warranted by the topic. This is indicated by the data points falling above the inclined 45-degree trendline. The cluster of points is increasing each year from 2020 in purple to 2021 in green and the latest 2022 results in blue.

As our organization continues on its journey of development along with our place in society, we will also continue to reflect upon the feedback from our stakeholders for ways we can further improve.

Materiality Matrix 2022

Results from the latest survey can be found on the Governance page in the Progress in 2022 section

Payments to governments

Mercuria is committed to conducting business in an ethical and transparent manner. As part of this commitment, Mercuria has a strict anti-bribery and anti-corruption policy. This policy prohibits all employees from making or receiving any bribes or improper payments, including facilitation payments.

A facilitation payment is a payment made to a government official in order to expedite or secure a routine government action. Facilitation payments are illegal in many countries, and they can also damage Mercuria’s reputation and business interests.

If an employee is asked to make a facilitation payment, they must immediately escalate the request to the Corporate responsibility & Compliance team for review. The payment should not be made until approved by the Corporate responsibility & Compliance team. Corporate responsibility & Compliance will also liaise with the Legal Group to assess the validity of the payment.

Mercuria has a zero-tolerance policy for bribery and corruption. Any employee who engages in these activities will be subject to disciplinary action, up to and including termination of employment.

Mercuria takes its anti-bribery and anti-corruption policy very seriously. We believe that it is important to conduct business in an ethical and transparent manner, and we are committed to creating a culture where bribery and corruption are not tolerated.

Payments to governments 2022

The latest report of payments to governments for the calendar year 2022 can be found in the Governance in 2022 section.

Safety data sheets

In addition to providing a safe working environment for its employees and contractors, Mercuria is committed to helping its customers and counterparties safely manage commodities.

Clear and timely communication of accurate information is critical for handling all commodities, especially dangerous goods.

As part of this effort, Mercuria provides Safety Data Sheets (SDSs) to its customers and counterparties. Mercuria’s SDSs comply with the United Nations Globally Harmonized System (GHS), which is adopted by almost all nations worldwide.

The purpose of these documents is to provide important health and safety information about Mercuria’s products and to serve as an effective and consistent way to communicate relevant and necessary hazard information about the commodities being supplied.

These documents are publicly available on Mercuria’s website as well being offered directly with product deliveries.

Direct access to Mercuria SDS

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