CSR Mercuria 2019 - Flipbook - Page 51
• The contractor’s HSE training program for their
employees and,
• The contractor’s program to equip and train
their employees with any PPE (Personal Protective Equipment) required for their assigned duties.
• For Rail transloaders (service companies transferring goods onto or off of railcars) we conducted due diligence into both the facilities where
those operations would occur, as well as the 3rd
party companies providing those services
• For those companies providing crude oil trucking services to us, we utilize an independent service (ISNetworld) to help us with ongoing performance monitoring. This addresses issues of
those company’s policies / procedures, training
and their ongoing safety statistics.
looking forecasts as compared with those which
record our achievements.
As we evaluate our performance alongside that
of some of our peers, we also found differing
points of interpretation. We anticipate working
through industry associations or other similar
vehicles to offer suggestions for greater consistency concerning how various metrics are calculated to help enhance the transparency of our
industry’s reporting to its shareholders.
Relative to all of our metrics, as we present
baseline values we must also hold for ourselves
those standards which we constantly seek to
achieve, and the step-by-step measures we may
employ in their constant pursuit.
Due Diligence Process
• We have specific requirements and a vetting proceFact Box
dure for all vessels / barge
4500+ KYC
operators with whom we
Checks
might contract to move our
completed
commodities.
in 2019
• We evaluate storage facilities to confirm their ability to
manage any products we might store with them,
prior to engaging with them.
• We utilize independent laboratories and surveyors
We continuously update and review our KYC
procedures in conformity with ever developing
international standards. We use Dow Jones Risk
and Compliance (Risk Center) to identify, prevent, mitigate and monitor potentially high-risk
counterparties.
MEASURING AND REPORTING ON
PROGRESS (KPIs)
In this report Mercuria is pleased to be able to
present updated indicators to inform our stakeholders of our most recent year’s performance,
in many instances further comparing to other
previous year’s activities. Looking forward we
intend to build upon the metrics we currently
maintain, making the gathering processes within our organization more robust and accessible
throughout. In addition we will look to expand
our program to emphasize points guiding our
business decisions by offering more forward
Technology, Research and
Development
INTRODUCTION: OUR STRATEGY TO MODERNIZE THE SUPPLY CHAIN
Mercuria is not just satisfied with having leading
and profitable positions in the diversified industry sectors and products in which it competes.
The Group also has ambitions to transform for
the better how the industry operates. In particular, bringing cutting-edge technology into the
industry to advance the way participants communicate, track, log, process and finance commodity transactions.
FINDING INNOVATIVE WAYS TO
MODERNIZE THE SUPPLY CHAIN: THE
CURL INITIATIVE
Mercuria is collaborating with an innovative FinTech start-up to trial combining Optical Character Recognition (OCR) and Machine Learning
capabilities to assist in increasing the accuracy
and speed of verifying a range of documents
used across the back office.
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