Gearbulk ESGreport 2024 Paperturn - Flipbook - Page 79
ESG REPORT 2024
FUTURE ACTIONS
Third-Party Risk Management Policy and Procedures
Gearbulk will continue to conduct assessments of all suppliers, both newly onboarded and existing, with a strong focus
on evaluating their environmental and social impacts. In
2024, no vendor accounts were put on hold, nor were any
suppliers terminated due to non-compliance, re昀氀ecting our
commitment to proactive risk management and supplier
engagement.
We maintain continuous dialogue with our suppliers to
ensure that any identi昀椀ed risks are e昀昀ectively mitigated,
strengthening collaboration and driving responsible procurement practices. These assessments remain integral to
re昀椀ning Gearbulk’s strategic procurement approach, ensuring alignment with our Environmental, Social, and Governance (ESG) objectives. Through consistent engagement and
a proactive stance on sustainability and ethical sourcing,
we reinforce our dedication to fostering positive environmental and social outcomes while adapting to the evolving
dynamics of our industry
Expand our commitment to sustainable procurement
Gearbulk is actively enhancing its sustainable procurement
network by conducting continuous supplier assessments to
ensure that the goods and services we acquire align with
our environmental and social responsibility objectives. We
prioritise responsible waste disposal and collaborate with
both current and prospective vendors to advance circular
economy initiatives. By developing and reinforcing these
partnerships, we aim to proactively identify and implement
solutions that reduce waste, encourage recycling, and maximise resource e昀케ciency throughout our supply chain, all
while upholding our strong ethical values.
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