Gearbulk Integrated Report 2023 - Report - Page 116
GEARBULK
SOCIAL AND RELATIONSHIP CAPITAL
YEAR
IN REVIEW
Enhancing ethical awareness among Gearbulk’s stake-
Dealing with stakeholder grievances
holders
Gearbulk is committed to providing a fair and transparent
Gearbulk maintains a steadfast commitment to ethical busi-
process for resolving grievances and disputes that may arise
ness practices, with a zero-tolerance policy towards unethical
from its operations and activities. Gearbulk has established a
behaviour. Through a series of initiatives, we strive to raise
grievance mechanism that allows any stakeholder, including
awareness among stakeholders to align with our targets,
employees, customers, suppliers, contractors, communi-
ensuring no material 昀椀ndings impact our operations. Notably,
ties, and civil society organisations, to raise their concerns
Gearbulk has joined the Maritime Anti-Corruption Network
and complaints in a con昀椀dential and respectful manner. The
(MACN), fostering awareness among our crew and providing
mechanism follows principles of accessibility, timeliness,
a safe platform to report any potential incidents. Our supplier
impartiality, transparency, e昀昀ectiveness, and learning. The
code of conduct further reinforces our e昀昀orts to mitigate risks
mechanism aims to address the root causes of grievances
associated with unethical conduct. All employees undergo
and provide appropriate remedies and actions.
mandatory training, underscoring our mission to minimise
the potential impacts of unethical behaviour. In 2023, no
Memberships and associations
material 昀椀ndings were observed, marking progress towards
As a responsible and reputable company, Gearbulk is a
our ethical objectives.
member of several industry associations and organizations that
promote high standards of safety, quality, and sustainability
Collaborating with our supply chain to minimise impacts
in the maritime sector. Some of these memberships include:
Our objective is to continue reducing both potential and actual
adverse e昀昀ects stemming from our operations. In pursuit
• The Baltic and International Maritime Council (BIMCO), the
of this goal, we have forged close partnerships within our
world’s largest international shipping association, repre-
supply chain to curtail environmental and societal drawbacks
senting around 60% of the world’s merchant 昀氀eet.
through innovative measures and strict adherence to legal
frameworks. Rigorous risk assessments are conducted across
• The International Chamber of Shipping (ICS), the principal
our supply chain, with concerted e昀昀orts to implement miti-
international trade association for merchant ship operators,
gation strategies aimed at reducing potential risks. In 2023,
representing over 80% of the world’s merchant tonnage.
our procurement e昀昀orts successfully secured sustainable
goods and services, while ensuring compliance with laws and
• The Clean Shipping Alliance 2020 (CSA 2020), a group of
regulations governing our supply activities, thereby re昀氀ecting
leading companies from the commercial shipping and cruise
our commitment to minimising negative impacts.
industries that are committed to complying with the International Maritime Organization’s (IMO) 2020 regulation for
Emphasising the importance of employee feedback
low-sulphur marine fuel.
At Gearbulk, we prioritise the voices of our employees. Annually, we administer an employee survey to foster engagement
• The Maritime Anti-Corruption Network (MACN), a global
and address areas in need of improvement. This platform
business network of over 140 companies working together
allows our employees to voice their opinions, providing valu-
to tackle corruption in the maritime industry.
able insights into organisational priorities and opportunities
to enhance working conditions. In 2023, our commitment to
• The Norwegian Maritime Cyber Resilience Centre (Norma-
employee satisfaction was rea昀케rmed, with 94% of respond-
Cyber), a non-pro昀椀t organization that aims to enhance the
ents expressing contentment with their employment at Gear-
cyber security and resilience of the Norwegian maritime
bulk, underscoring our dedication to supporting our workforce.
sector.
116
PART 4 – HOW WE CREATE VALUE
