Sustainability
Bunkeroil's Commitment to Sustainability
Bunkeroil recognizes its crucial role in the maritime energy sector and is committed to being a leader in efficient, safe, and increasingly sustainable bunkering. The company is actively focusing on environmental, social, and governance (ESG) issues to strengthen its business model. This commitment is not just a response to new regulations, but a strategic effort to lead the energy transition in the maritime sector and create shared value for all stakeholders, including clients, suppliers, employees, and the local community.
Environmental Responsibility
GHG Emissions Management: Bunkeroil measures its Greenhouse Gas (GHG) emissions, focusing on Scope 1 (direct emissions from its operations, like its barge and company cars) and Scope 2 (indirect emissions from purchased electricity). In 2024, the company's total emissions decreased by up to 8% compared to the previous year. The company plans to start measuring its Scope 3 emissions in the coming years.
Air and Water Pollution Control: Bunkeroil recognizes the potential for pollution from its activities, such as naval bunkering and the movement and storage of petroleum products.
- Air: Since 2020, Bunkeroil has offered low-sulfur fuel oil (VLSFO) to comply with IMO regulations, significantly reducing SOx emissions from the ships it supplies. The company is also preparing to meet the stricter SOx limits for the Mediterranean in 2025.
- Water: The company uses strict safety procedures, onboard safety equipment, and pollution prevention systems to minimize the risk of accidental hydrocarbon spills.
Circular Economy: Bunkeroil is making strategic investments to build a more sustainable and circular supply chain. A key initiative is a plan to convert some storage silos in the port of Livorno to handle biofuels, particularly those made from used cooking oils (UCO). This will make biofuels a more viable alternative to fossil fuels by overcoming logistical and contamination challenges. Bunkeroil will begin supplying biofuel blends (B24), which can reduce ship CO2 emissions by up to 20-25%.
Social Responsibility
Employee Population: Bunkeroil has a stable and compact workforce which helps retain technical expertise and fosters long-term relationships with colleagues and clients. The company's turnover rate is very low.
Human Resources Management: The company operates with a lean organizational structure where roles are designed to be versatile, allowing for quick coordination and agile adaptation to changes in the market. Bunkeroil promotes equal opportunity and a work environment free of discrimination.
Health and Safety: Bunkeroil prioritizes employee health and safety, using a constantly updated Risk Assessment Document (DVR). All employees are covered by a health surveillance program that includes pre-employment check-ups and regular monitoring.
Training and Development: The company is committed to continuous learning, increasing its total training hours by 35% in 2024 compared to 2023. Training topics include safety, regulatory updates, and IT, with a growing focus on sustainability and energy transition.
Governance
Corporate Conduct: Bunkeroil is led by a Board of Directors that balances family tradition with independent oversight. The company has a strong commitment to ethical conduct and transparency at all its levels.
Supplier Relations: Bunkeroil maintains a long-term, trust-based approach with all its suppliers. The company ensures prompt and reliable payments to reinforce these relationships.
Risk Management: The company uses established control systems to manage legal and reputational risks. It is currently working to expand its risk mapping to include ESG factors. In 2024, no legal violations or penalties were recorded.
