Gearbulk ESGreport 2024 Paperturn - Flipbook - Page 64
GEARBULK
ANTI-BRIBERY AND CORRUPTION
PROGRESS AND
PERFORMANCE
Our unwavering commitment to ethical conduct and transparency fuels
substantial e昀昀orts towards mitigating bribery and corruption risks. Stringent
policies, comprehensive training and ongoing vigilance exemplify our pledge
to uphold integrity and accountability across all areas of our operations.
Assessing operations for risks related to bribery and
Anti-corruption policies and procedures communication
corruption
and training per region
Gearbulk thoroughly and periodically evaluates the business risks embedded in all its operations, including but not
limited to bribery and corruption risks. Gearbulk identi昀椀es
SHORE EMPLOYEES
the probability and severability of the risk, existing control
Completed training
per employee
Average of
Completion
APAC
14
67%
Europe
31
53%
South America
13
100%
Total
58
63%
measures, e昀昀ectiveness of the existing control measures
Region
and planned strategies to enhance awareness and mitigation actions. Frequent collaboration with our operational
joint ventures though joint committees and a proactive
approach of the 昀氀eet management and other business
segments guarantees that all operations all fully and continuously assessed in terms of material compliance risks.
Identifying signi昀椀cant risks related to corruption
GOVERNANCE BODY MEMBERS (SENIOR MANAGEMENT)
through the risk assessment
Completed training
per Management
Average of
Completion
Gearbulk operates in several countries which have
Region
an increased risk to bribery and corruption such as China,
APAC
1
0%
Europe
4
90%
South America
1
100%
Total
6
63%
Argentina, Brazil, India, Pakistan, Indonesia, Papua New
Guinea and Turkey. This increases the risk of potential
bribery and corruption incidents that may lead to 昀椀nancial
losses, reputational damages, possibles 昀椀nes and penalties, and even halting or obstructing local operations.
ACTIVE VENDORS BOUND TO SUPPLIER CODE OF CONDUCT
Region
No. of active vendors
% of representation
within Gearbulk’s universe
of active vendors
Rate of adherence to
Gearbulk’s Supplier
Code of Conduct
Africa
6
1%
100%
APAC
299
33%
100%
Europe
465
52%
100%
Middle East
29
3%
100%
North America
75
8%
100%
Central America
7
1%
100%
South America
20
2%
100%
Total
901
100%
100%
64
PART 4 – GOVERNANCE
