Gunvor’s support for the EITI includes a new policy that will establish the voluntary disclosure of information that aligns with EITI principles and transparency requirements. 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.
The company's goal is to maintain the highest ethical standards and comply with all relevant rules and regulations wherever it operates. Gunvor’s teams work to improve company procedures to mitigate and anticipate risks that exist within the commodities trading sector. Read more about Gunvor’s Compliance, Ethics and Transparency approach on Gunvor's website.
Link to the statement of support on Gunvor's website.