Gearbulk Integrated Report 2023 - Report - Page 118
GEARBULK
LOOKING BEYOND
Introduce our Supply Chain Management strategy
Adopt a Corporate Social Resposibility strategy
Gearbulk recognizes the imperative of a robust supply
As we look ahead, our corporate social responsibility
chain management strategy to not only ensure regu-
(CSR) strategy must evolve to re昀氀ect our commitment
latory compliance but also proactively mitigate poten-
to community-centric growth and progress. While our
tial negative impacts on the Environment, Social, and
current initiatives, particularly through the GBSF compo-
Governance (ESG) fronts, including Human Rights.
nent, have made modest contributions, our future CSR
Looking ahead, this strategy will serve as a catalyst for
strategy will prioritise meaningful engagement with the
identifying strategic opportunities that align with our
communities where we operate.
organisational objectives.
A forward-looking approach demands that our CSR
We are in the process of analysing and categorizing
strategy be tailored to the specific needs of these
our supplier universe based on risk assessment, with
communities. We will adopt a demand-driven model
tailored due diligence procedures established for high
that facilitates continuous dialogue and collaboration to
and medium-risk suppliers. Additionally, we are lever-
identify areas where our contributions can have the most
aging a contracted risk management system to stream-
signi昀椀cant impact. By actively listening to community
line third-party risk assessments, while concurrently
feedback and assessing their evolving needs, we can
updating documentation to fortify our due diligence
uncover innovative solutions that drive positive change
e昀昀orts.
and advancement.
In our pursuit of sustainability, we are intensifying our
Our future contributions to these communities will
focus on sourcing sustainable products and services,
extend beyond mere donations, encompassing both
with a commitment to exploring alternative providers.
monetary and non-monetary support. Emphasising
Furthermore, we are embarking on concluding assess-
areas such as skills development, social advancement,
ments of Supplier Emission Contributions (Scope 3) and
and environmental awareness, our e昀昀orts will aim to
initiating carbon o昀昀setting measures to curtail emis-
create lasting bene昀椀ts for the communities we serve.
sions.
Through these forward-thinking initiatives, we will reinforce our commitment to corporate social responsibility
Looking forward, we aim to optimise our supply
and foster sustainable growth for both our business and
contracts to ensure both cost e昀케ciency and alignment
the communities we engage with.
with our sustainability goals. Through these forwardlooking initiatives, Gearbulk endeavours to fortify its
supply chain management practices, fostering resilience
and sustainability across our operations.
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PART 4 – HOW WE CREATE VALUE
