Gearbulk ESG Report 2023 - Report - Page 64
GEARBULK
ANTI-BRIBERY AND CORRUPTION
PROGRESS AND
PERFORMANCE
Our unwavering commitment to ethical conduct and transparency fuels substantial e昀昀orts towards mitigating bribery and
corruption risks. Stringent policies, comprehensive training and
ongoing vigilance exemplify our pledge to uphold integrity and
accountability across all areas of our operations.
Assessing operations for risks related to bribery and
Anti-corruption policies and procedures communication
corruption
and training be region
Gearbulk thoroughly and periodically evaluates the business risks embedded in all its operations, including but not
limited to bribery and corruption risks. Gearbulk identi昀椀es
SHORE EMPLOYEES
the probability and severability of the risk, existing control
Completed training
per employee
Average of
Completion
APAC
12
100%
Europe
53
94%
measures, e昀昀ectiveness of the existing control measures
Region
and planned strategies to enhance awareness and mitigation actions. Frequent collaboration with our operational
joint ventures though joint committees and a proactive
approach of the 昀氀eet management, ship owning, and terminals business segments guarantees that all operations
all fully and continuously assessed in terms of material
Middle East
4
100%
South America
12
92%
Total
81
96.5%
compliance risks.
GOVERNANCE BODY MEMBERS (SENIOR MANAGEMENT)
Identifying signi昀椀cant risks related to corruption
through the risk assessment
Region
Gearbulk operates in several countries which have an
APAC
increased risk to bribery and corruption such as China,
Argentina, Brazil, India, Pakistan, Indonesia, Papua New
Guinea and Turkey. This leads to the risk of potential
bribery and corruption incidents that may lead to 昀椀nancial
Completed training
per Management
Average of
Completion
1
100%
Europe
South America
Total
15
80%
1
100%
17
93.33%
losses, reputational damages, possibles 昀椀nes and penalties
and even halting or obstructing local operations.
ACTIVE VENDORS BOUND TO SUPPLIER’S CODE OF
CONDUCT
Region
7
0.81%
APAC
373
43.27%
Europe
362
42.00%
Middle East
28
3.25%
North America
47
5.45%
3
0.35%
42
4.87%
862
100%
South America
Total
PART 4 – GOVERNANCE
Average of Completion
Africa
Central America
64
Number
