Welcome

We are pleased to present Mercuria’s 2025 Corporate Social Responsibility (CSR) Report. Mercuria has transformed from a traditional energy company into a leader in sustainable investments, advancing low-carbon solutions across power, carbon, nature, biodiversity, and critical metals.

In 2025, Mercuria continued to diversify its trading portfolio to strengthen energy supply reliability. We established a physical uranium trading capability to meet growing market demand. Building on our expansion into critical minerals in 2024, we scaled our metals activities by expanding into new geographies and deploying innovative business models to support growth.

As we continue to grow, we continue to learn and build on experience, strengthening our approach to responsible sourcing and ethical trading in our new business activities. We are committed to setting high standards and keeping our policies aligned with the most current regulatory requirements and leading standards.

Through the continued development of our trading, asset management and financing capabilities, Mercuria supports a balanced energy transition that addresses the interconnected imperatives of energy security, equity and sustainability — the three pillars of the Energy Trilemma — while contributing to improved quality of life across the communities and markets we serve.

We build partnerships with a wide range of stakeholders to grow our business while advancing responsible practices and positive social and environmental outcomes.

To lead its next phase, Silvania appointed Eelco Hoekstra as CEO, leveraging decades of global experience in energy, infrastructure, and sustainability. Under his leadership, Silvania has deepened partnerships, including a landmark collaboration with Conservation International, announced during London Climate Week, to ensure scientific rigor, community engagement, and effective capital deployment. These efforts place biodiversity conservation at the core of Silvania’s mission, ensuring that ecosystem restoration delivers measurable ecological and social benefits.

Silvania’s Race to Belém initiative, launched in 2025, committed $100M in upfront capital to jurisdictional REDD+ programs in Brazil’s forests. This program addresses biodiversity loss and climate mitigation while ensuring Indigenous and forest communities benefit from carbon finance. Strategic alliances with Brazilian states, including Maranhão’s Floresta Viva program and initiatives in Tocantins, focus on restoring 28 million hectares of biodiverse ecosystems in the Cerrado and Amazon.

Mercuria’s commitment to biodiversity extends beyond land to ocean ecosystems, aligning with the Ocean 30×30 goal to protect 30% of the world’s oceans by 2030. Mercuria and the Villars Institute launched the Ocean & Poles Day, convening scientists, entrepreneurs, explorers, oceanographers, and storytellers to strengthen understanding of ocean science and accelerate practical solutions for ocean sustainability. In 2025, our ocean partnerships included support for Friends of Ocean Action’s 30×30 Ocean Action Plan, a global initiative advancing the protection of 30% of the ocean by 2030.

As we scale our critical minerals supply chains, we continue to strengthen supply-chain robustness and traceability to identify and address a broad range of risks, including human rights impacts. In 2025, we began collaborating with the University of Geneva’s (UNIGE’s) Geneva Business and Human Rights Center (GBHRC) through its Business and Human Rights Clinic. Working with emerging talent and leading researchers to develop practical, solutions-oriented outcomes that drive meaningful improvements on the ground.

Responsible sourcing and trading are central to how we operate. This report highlights how Mercuria turns that commitment into action through clear frameworks, robust implementation, and ongoing improvement to help drive ethical and responsible trading practices.

To complement this report, we invite you to watch a short film highlighting key initiatives from 2025, bringing to life our work across nature and biodiversity, ocean sustainability, polar research, and human rights. The film offers a closer look at how these efforts translate into real-world impact.