Statement of Support
Engagement with the EITI
Gunvor Group has expressed support for the EITI to establish a consistent means to reliably report on its payments to governments, with the aim to improve transparency and reduce the potential for corruption in cooperation with these governments.
Gunvor’s reporting includes purchases of crude oil and refined oil products acquired from state-owned enterprises (SOEs) in EITI implementing countries. Given the complexity of transaction types and variety of data involved in these purchases, Gunvor intends to work closely with the EITI, relevant trading peers and other transparency-related organisations to improve disclosures going forward.
Gunvor’s payments to governments report fulfils commitments related to the company’s innovative sustainability-linked financing. For Gunvor’s 2019 disclosure of payments to governments see here.
The company's goal is to maintain the highest ethical standards and comply with all relevant rules and regulations wherever it operates. During the last decade, Gunvor has spent millions of dollars building an industry-leading Compliance & Ethics Department. Gunvor’s teams work to improve company procedures to mitigate and anticipate risks that exist within the commodities trading sector. More information on Gunvor’s Compliance, Ethics and Transparency can be found here.
Link to the statement of support on Gunvor Group's website