GenPro has released its second sustainability report identifying significant progress and the successful implementation of ESG strategies across all aspects of the business.
The report follows on from its inaugural report released last year, considered to be the first sustainability report to be published by an independent maritime procurement company.
GenPro provides procurement services by negotiating framework supply agreements with international suppliers for and on behalf of its members. Its vision is to become the socially and environmentally responsible leading procurement partner of choice in the marine and trading ecosystem.
GenPro’s sustainability goals are shaped by a multitude of factors, including worldwide efforts to promote environmental responsibility, governmental policies and guidelines at various levels, the existing and future sustainability plans of its members (both current and prospective), and the sustainability initiatives undertaken by their supply chain partners.
Through its ‘Procurement with Purpose’ ethos, GenPro integrates ESG (Environment, Social, Governance) strategies into every facet of its operations. Across organisational structures, processes, and action plans, the company actively manages material sustainability matters.
As a result, this year’s report highlights significant performance improvements such as including all contracted suppliers in all categories within two-year Compliance & Sustainability audit cycles, underscoring the company’s commitment to advancing sustainability.
In 2023 GenPro had agreements in place with over 280 suppliers within the maritime industry. The company’s objectives are to enhance efficiencies and efficacies in the procurement process and drive corresponding efficiencies and efficacies for its members in their vessels’ operational costs, and additionally to return real value to the vessel owner by way of volume related discounts in a fully transparent and auditable manner.
Maria Theodosiou, Managing Director of GenPro comments: “Our focus on long term value, adaptability and enhanced responsibility ensures that we not only meet the demands of today but also anticipate and meet the challenges of tomorrow. We see that the future of sustainable progress lies in collaborations and partnerships.”
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