Bunker Holding Commits to ESG, Launches New Report

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by KnowESG
KnowESG_Bunker Holding Commits to ESG, Launches New Report
Image courtesy of Bunker Holding

Bunker Holding, the world's leading marine fuels supplier, has unveiled its second ESG report, highlighting its objectives and advancements in the realm of environmental, social, and governance (ESG) initiatives.

The latest report underscores the company's commitment to forging industry partnerships, knowledge enhancement, and robust systems as pivotal components in achieving a transparent and compliant future for the maritime industry.

A central focus of Bunker Holding's reporting is the long-term goal of transitioning towards low- and zero-carbon fuels, aligning with the revised 2023 IMO GHG strategy aimed at achieving net-zero greenhouse gas emissions from international shipping around 2050.

By steadfastly pursuing a decarbonisation strategy and substantial investments in novel fuels, Bunker Holding is optimistic about galvanising broader industry participation and heightened ambition to collectively reduce global shipping's carbon emissions.

Keld R. Demant, CEO of Bunker Holding, remarked, "The imperative for a sustainable shift towards a net-zero industry aligns perfectly with Bunker Holding's industry leadership. We continue to make substantial investments in knowledge acquisition, specialist expertise, and employee education regarding low- and zero-carbon fuels. Equally important is our commitment to sharing our insights with partners and clients to illuminate the path forward in our industry."

He added, "Many suppliers of emerging fuel types, whether methanol, ammonia, LNG, or other low- or zero-carbon alternatives, often lack extensive knowledge or industry networks. We aim to bridge the gap between producers and clients, and by already establishing sustainable infrastructure for alternative fuels in ports worldwide, we are achieving precisely that. This pioneering work remains one of our core strengths and underscores our ongoing contribution to the green transition."

With the ultimate 2050 goal of achieving net-zero GHG emissions, this year's ESG report from Bunker Holding emphasises short-term targets and measures that pave the way toward that objective. Among these targets is the commitment to facilitate the proliferation of very low-carbon fuels by 2030 and reduce the carbon intensity of the overall product portfolio.

In the past year, Bunker Holding has been deeply engaged in prioritising the safety and well-being of its employees based on global policies. Since assuming the role in 2022, Mette Østerskov, Head of ESG at Bunker Holding, has collaborated with the organisation's robust internal HR capabilities to develop and implement beneficial policies promoting diversity, equity, and inclusion throughout the company.

Mette Østerskov commented, "In late 2022, we updated our global Parental Leave Policy, followed by the introduction of a Senior Policy, a Stress Policy, and a Whistleblower Policy in early 2023. I am immensely proud of the positive response from our employees regarding these meaningful steps we have taken toward establishing a more inclusive workplace, implemented on a global scale."

In addition to social policies, Bunker Holding places a strong emphasis on a robust compliance framework to guide its operations. The monitoring and reporting of cybersecurity, misconduct, compliance, and adherence to a globally responsible tax policy form the bedrock of a more resilient and agile Bunker Holding.

Keld R. Demant remarked, "Over the past four decades, Bunker Holding has evolved alongside the industry. With ESG, we are once again setting industry-leading standards. Our global employee care policies represent an industry first, and I take great pride in that. Coupled with our investments in compliance and cybersecurity systems, as well as our commitment to knowledge-building and partnerships, we are diligently crafting a legacy we can be proud of for years to come."

While reinforcing Bunker Holding's corporate standards and systems for enhanced business practices, the company also remains committed to fostering mutual industry development. The aim is to have a minimum of 85 per cent of business partners adopt a Global Business Partner Responsibility Conduct (GBPRC) policy by 2027/28. This policy seeks to promote, safeguard, and evaluate the efforts of business partners in conducting and managing responsible business practices in line with internationally accepted principles for sustainable development.

For a more comprehensive look at the facts, targets, and in-depth insights, the complete Bunker Holding ESG Report for 2022–23 can be accessed here.

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To view and compare company ESG Ratings and Sustainability Reports, visit our Company ESG Profiles page.

Source: Bunker Holding

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