GenPro releases its first sustainability report in accordance with the updated GRI Universal Standards

GP General Procurement Company Limited (GENPRO) has released its first sustainability report in accordance with the updated Global Reporting Initiative (GRI) Universal Standards.

Sustainability Report 2022

From its inception, GenPro has been fully committed to its Sustainability Strategy and its defined four pillars of sustainability – Planet, People, Peace and Partnership. GenPro’s Sustainability Mission is to drive sustainability throughout the procurement process and generate viable efficiencies and efficacies for its members and suppliers in a fully transparent, measurable and sustainable manner.

By undertaking a Materiality Analysis and Climate Socio-economic Risk Assessment, the company has been able to demonstrate that it effectively manages the social, environmental, and economic impacts of its operations. Furthermore, it has enabled the company to identify and prioritise the sustainability issues that are most relevant to its business and stakeholders, ensuring that GenPro’s sustainability initiatives align with the needs and expectations of its stakeholders.

The Climate Socio-economic Risk Assessment allowed the company to assess its business operations and supply chains. Corporate supply chains are critical in achieving sustainable development goals, as reflected in the evolving global regulatory framework.

The sustainability report serves as a comprehensive record of the company’s actions throughout 2022, holding it accountable in accordance with the updated GRI universal standards. Since its inception, GenPro has endeavoured not only to drive sustainability throughout its procurement processes but actively advocate and educate on the importance of the same.

GenPro places sustainability values at the core of its business strategy, as demonstrated by its strategic recruitment initiative in 2022 to onboard two additional experts in Waste Management, Sustainability/CSR Strategy & Reporting and Value Chain Sustainability Management. All members of its Compliance and Sustainability team have obtained relevant certifications aligned with the most recent updates from the Global Reporting Initiative (GRI). This certification empowers them to proficiently conduct assessments and materiality analyses.

The company chosen to support in the preparation of the report was Grow Sustainability Consulting. Maria Theodosiou, GenPro’s Managing Director, said: “Our collaboration with Grow Sustainability Consulting dates back to 2020, and we have cultivated a strong rapport with them. This partnership is characterised by a shared passion and commitment to driving meaningful change. As a consultancy, they possess a comprehensive understanding of the vast responsibilities encompassed by Environmental, Social, and Governance (ESG) considerations and wholeheartedly contribute to our sustainability endeavours.”

GenPro firmly believes that the future of sustainable progress lies in fostering collaborations and partnerships across various domains, even embracing unexpected alliances. Ms Theodosiou added: “Corporate Responsibility is no longer a choice – it’s a business imperative, without which one cannot remain profitable, relevant, or reliable. Our hope is that all companies in the maritime procurement sector release sustainability reports. Clients can then choose the right procurement partner by comparing companies on the basis of ESG performance.”