CSR Mercuria 2018 - Flipbook - Page 22
TRANSPARENCY
Mercuria is committed to providing transparency to shareholders in relation to its activities and as such
we publish the payments that we make to governments in relation to our extraction related activities.
Our 2018 payments to governments are shown below:
Table below shows the relevant payments made by Mercuria Energy Group in the year ended 31 Dec 2018
Countries and authorities
Production
Entitlements
Romania
State Budget
National Agency for Mineral Resources
Forestry National Authority - Romsilva
United States of America
North Dakota State administration
Netherlands
State Tax department
Indonesia
Directorate General Budget
Directorate General Mineral & Coal
TOTAL
Taxes
Royalties
4,157,204
3,955,647
270,391
112,102
1,960,772
10,794,112
129,020
702,525
10,794,112
7,219,912
License Fees
Bonuses
TOTAL
8,112,851
533,021
176,389
533,021
176,389
382,493
194,825
2,155,597
129,020
11,496,638
4,067,749
904,235
-
22,986,009
Additionally Mercuria is working as part of the “Extractive Industry Transparency Initiative” EITI Commodity Trading Working Group to try and establish some global industry standards for the reporting of
payments to governments in respect of “first trade”.
SUPPLY CHAIN AND RESPONSIBLE SOURCING
As one of the world’s largest commodity trading companies, Mercuria recognizes that it can play a key
role in the promotion of social and environmental best practice when extracting, handling, processing
and transporting commodities.
Mercuria’s relationships with suppliers and customers plays a key role in achieving that aim and in
minimizing adverse social and environmental impacts. Mercuria is focused on building long-term commercial relationships that will benefit the communities in which we operate and the markets in which
we trade.
Mercuria believes that all suppliers in our supply chains should adopt and implement principles that
ensure the highest standards of business and personal ethics. We will work closely with all suppliers
to ensure that this commitment is fulfilled. In this regard, this year Mercuria has launched its policy on
Supply Chains and Responsible Sourcing.
DIGITALIZATION AND BLOCKCHAIN
At Mercuria we are big believers that our industry is ripe for disruption. We believe that modern technologies offer a huge opportunity for the markets to change the way that we do business and mean
that quick access to accurate information can be greatly improved. Technological advances offer the
potential for our industry to improve security, efficiency and sustainability. Our industry is very focused
on cost reduction given the narrowing margins and we think that as an industry we can make tremendous advances if we work together to enhance processes. It is for this reason that Mercuria has
pioneered industry consortium projects working with other market participants to shape the industry`s
digital revolution.
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