Gearbulk ESG Report 2023 - Report - Page 75
ESG REPORT 2023
POTENTIAL AND ACTUAL IMPACTS
Gearbulk’s impact on supply chain management
extends far beyond mere 昀椀nancial transactions;
it profoundly in昀氀uences both economic dynamics
and environmental considerations within the
local communities where it operates. Through its
procurement activities, Gearbulk engages with a
OUR ONGOING EFFORTS TO MANAGE THE IMPACT
diverse array of suppliers worldwide, contributing
At Gearbulk, e昀昀ective supply chain management
to their 昀椀nancial stability and growth. This ripple
utmost important. We meticulously assess both
e昀昀ect encompasses various facets, including job
actual and potential impacts across the economy,
creation, economic development, and tax contri-
environment, and people, including human rights
butions, which play pivotal roles in shaping the
considerations, ensuring transparency by reporting
socioeconomic landscape of these communities.
any involvement in negative impacts arising from
Additionally, Gearbulk’s operations leave a tangible
our activities or business relationships. Our supply
environmental footprint, encompassing aspects
chain management policies prioritise respon-
such as pollution and resource consumption. For
sible sourcing, environmental stewardship, and
instance, the transportation of goods via Gearbulk’s
upholding human rights. Proactively, we imple-
vessels may result in emissions and other environ-
ment a supplier code of conduct, conduct regular
mental impacts, a昀昀ecting air and water quality.
audits, and swiftly address any negative impacts
Therefore, Gearbulk acknowledges its responsibility
in collaboration with stakeholders. Furthermore,
to manage these impacts responsibly, striving to
we actively manage positive impacts by engaging
minimize environmental harm through sustainable
with local communities, promoting sustainable
practices and continuous improvement initiatives
practices, and continuously tracking progress using
within its supply chain management framework.
de昀椀ned processes and indicators. Through stake-
By addressing both economic and environmental
holder engagement, we ensure our actions align
aspects, Gearbulk aims to foster positive outcomes
with expectations, aiming for e昀昀ective supply chain
for both its suppliers and the communities in which
management that mitigates risks and maximizes
they operate, re昀氀ecting its commitment to ethical
positive impact, re昀氀ecting our commitment to
and sustainable supply chain practices.
responsible and sustainable practices at Gearbulk.
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