Gearbulk IntegratedReport 2024 Paperturn - Flipbook - Page 116
GEARBULK
SOCIAL AND RELATIONSHIP CAPITAL
YEAR
IN REVIEW
Collaborating with our supply chain to minimise impacts
Dealing with stakeholder grievances
We are committed to continuously reduce both potential
Gearbulk is committed to providing a fair and transparent
and actual adverse e昀昀ects stemming from our operations.
process for resolving grievances and disputes that may arise
To achieve this, we have further strengthened partnerships
from its operations and activities. Gearbulk has established a
within our supply chain, leveraging innovative solutions and
grievance mechanism that allows any stakeholder, including
strict compliance measures to mitigate environmental and
employees, customers, suppliers, contractors, communi-
societal risks. With the implementation of new software in
ties, and civil society organizations, to raise their concerns
2024, we can now better positioned to identify strategic
and complaints in a con昀椀dential and respectful manner. The
partnerships that further reduce negative impacts through
mechanism follows principles of accessibility, timeliness,
enhanced risk assessments and optimization of mitigation
impartiality, transparency, e昀昀ectiveness, and learning. The
strategies. In 2024, our procurement e昀昀orts successfully
mechanism aims to address the root causes of grievances
contributed to the sourcing of sustainable goods and services
and provide appropriate remedies and actions.
while ensuring compliance with relevant laws and regulations,
reinforcing our commitment to responsible sourcing and
Memberships and associations
minimsed environmental impact.
As a responsible and reputable company, Gearbulk is a
member of several industry associations and organizations that
Emphasising the importance of employee feedback
promote high standards of safety, quality, and sustainability
At Gearbulk, we conduct an annual employee satisfaction
in the maritime sector. Some of these memberships include:
survey to gauge engagement and identify areas for improvement. This survey provides employees with a platform to
• The Baltic and International Maritime Council (BIMCO), the
share their opinions and o昀昀ers insights into organisational
world’s largest international shipping association, repre-
priorities and ways to enhance working conditions. Our
senting around 60% of the world’s merchant 昀氀eet.
work environment’s e昀昀ectiveness and the development of
both employees and the organization are supported by our
• The International Chamber of Shipping (ICS) affiliate
training programs, promotions, and HR actions aimed at
through the Bahamas Shipowners Association, an organi-
developing human capital. In 2024, 88% of survey respondents
sation which collaborates with global regulating bodies to
expressed satisfaction with their employment at Gearbulk,
safeguard its members’ interests, providing active support
demonstrating our focus on supporting our workforce.
for safe and e昀케cient marine transportation.
Enhancing ethical awareness and addressing concerns at
• The Maritime Anti-Corruption Network (MACN), a global
Gearbulk is dedicated to maintaining ethical business prac-
business network of over 140 companies working together
tices with zero tolerance for unethical behavior. We actively
to tackle corruption in the maritime industry.
raise awareness among stakeholders, aligning them with our
ethical targets and mitigating operational risks.
• The Norwegian Maritime Cyber Resilience Centre (NormaCyber), a non-pro昀椀t organization that aims to enhance the
As a member of the Maritime Anti-Corruption Network
cyber security and resilience of the Norwegian maritime
(MACN), we provide our crew with a safe platform to report
sector.
any incidents and enforce a strict supplier code of conduct. All
employees undergo mandatory training to minimize unethical
behavior. In 2024, there were no material 昀椀ndings, marking
signi昀椀cant progress toward our goals.
Gearbulk o昀昀ers a transparent process for addressing ethical
concerns. An independent reporting channel allows stakeholders to con昀椀dentially report issues, which are then impartially investigated by a dedicated committee.
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PART 4 – HOW WE CREATE VALUE
